Rethinking Financial Advice: The Shift to Episodic Engagement
Rethinking Financial Advice: The Shift to Episodic Engagement
2
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Amid evolving client expectations, the financial services sector is seeing a major shift in how Australians prefer to receive financial advice.
Emerging evidence suggests that episodic, one-time consultations are becoming more favored over traditional full-service options.
The 2024 edition of the Australian Financial Advice Report, spearheaded by Investment Trends, uncovers pivotal insights into consumer preferences. Out of the 21 million Australian adults assessed, nearly half-about 10.2 million-express their intent to consult financial advisors. Among them, the demand for episodic, issue-specific advice is on the rise, highlighting the importance of accessible and affordable financial counsel.
Interestingly, 22 percent of individuals (having no immediate plan to engage advisors and seemingly content with their current financial management), coexist with a significant 23 percent who face unresolved financial issues but are similarly not considering advice. In stark contrast, 1.5 million individuals currently receiving financial guidance reveal that more than 85 percent still encounter unmet advisory needs.
The widespread need for assistance spans various financial concerns. An impressive 16.4 million Australians voiced their interests in specific areas such as retirement finances (30 percent), structuring investments (30 percent), navigating tax concerns (27 percent), and home purchase strategies (25 percent).
As determined from the study, Australians value episodic financial advice, predominantly because it bears lower costs compared to comprehensive financial advisory services. Notably, financial guidance regarding inheritance and estate planning, home acquisition, and retirement strategies are top areas Aussies are willing to invest in, occasionally exceeding figures like $1,690, $1,270, and $970 respectively, for direct human advisory.
Olivia Beringer, Research Director at Investment Trends, underscores the shift, explaining: "It is abundantly clear that episodic financial advice-tailored to fit budgets and life circumstances-is what Australians want." She adds that as organizations adapt to this demand through innovative business strategies, the legislative alignment anticipated would further support this framework.
Moreover, Beringer highlights the crucial transition: "Australians are demanding advice that is both affordable and available when they need it. Our data highlights a clear opportunity to inject greater flexibility into the industry, enabling organisations to offer targeted services that directly address consumer needs."
This research further fortifies the concept of personalized financial planning, catering to unique life events instead of ongoing advisory relationships, as the newfound norm in the sector. The original insights and data were derived from the Australian Financial Advice Report presented by Investment Trends, which casts a spotlight on these evolving client paradigms.
Published:Monday, 9th Dec 2024 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
The recent collapse of luxury caravan manufacturer Zone RV has sent shockwaves through the Australian caravan industry. The company, based in Coolum on Queensland's Sunshine Coast, has entered voluntary administration, revealing debts amounting to approximately $40 million. This development has left around 240 employees unemployed and approximately 180 customers uncertain about the status of their purchases. - read more
Caravan parks in Western Australia's South West are grappling with the effects of a severe housing shortage, as an increasing number of individuals and families turn to these facilities for long-term accommodation. This shift is placing significant pressure on park owners, who traditionally cater to tourists and short-term visitors. - read more
The Australian caravan industry has recently faced significant upheaval with the voluntary administration of Zone RV, a prominent luxury off-road caravan manufacturer based on Queensland's Sunshine Coast. This development has left approximately 250 employees and numerous customers in a state of uncertainty, particularly as the holiday season approaches. - read more
Amidst economic uncertainties, the Australian caravan and camping sector has demonstrated remarkable resilience, with occupancy rates climbing across all accommodation types. In October 2025, cabin occupancy surged to 69% nationwide-a substantial four-point increase compared to October 2024. Powered sites saw a three-point rise to 52%, while unpowered sites reached 22% occupancy. - read more
The recent collapse of luxury caravan manufacturer Zone RV has sent shockwaves through the Australian caravan industry. The company, based in Coolum on Queensland's Sunshine Coast, has been revealed to owe approximately $40 million to creditors, leaving both customers and employees facing significant uncertainty. - read more
Caravan travel offers a unique opportunity to explore the great outdoors, providing the freedom and flexibility to discover some of the most breathtaking landscapes Australia has to offer. From the golden beaches of Queensland to the rugged beauty of the Outback, caravanning lets you take the road less travelled and create unforgettable memories. - read more
The humble caravan has become an emblem of exploration and freedom in Australia, capturing the hearts of countless adventurers. With the cultural fabric intertwined with the spirit of the great outdoors, it's no surprise that caravanning is experiencing a surge in popularity. Traveling with a home on wheels allows one to forge their path and make memories in the cozy nook of familiarity, no matter how far they roam. - read more
Traveling in a caravan offers an unparalleled sense of freedom and the thrill of exploring the open road. As more Australians embrace the joys of caravanning, the importance of finding the right financing solution becomes essential. A suitable caravan loan can turn your travel dreams into reality, enabling you to purchase the ideal home-on-wheels without financial strain. - read more
For many, the lure of the open road and the freedom to explore is synonymous with the dream of caravan ownership. It conjures images of spontaneous adventures, family bonding, and the simple joy of having a home on wheels. Caravan enthusiasts often speak of the unbeatable sense of community at caravan parks and the proximity to nature as key draws to this unique lifestyle. - read more
Caravan adventures are an exciting way to explore the expansive beauty of Australia. Whether you're planning a cross-country journey or a short getaway, hitting the road with your caravan promises freedom and exploration. - read more
Start Here
Get a free caravan finance eligibility assessment and compare options
tailored specifically to your circumstances.
Knowledgebase
Interest Rate: A rate which is charged or paid for the use of money. An interest rate is often expressed as an annual percentage of the principal. It is calculated by dividing the amount of interest by the amount of principal. Interest rates often change as a resul
