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.

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.

Share this news item:

Finance News

Clear

Housing Shortage in WA's South West Strains Caravan Parks

27 Dec 2025: Paige Estritori

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

Zone RV's Administration Signals Industry Challenges

19 Dec 2025: Paige Estritori

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

Caravan Parks Thrive with Rising Occupancy Rates

19 Dec 2025: Paige Estritori

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

Zone RV's Financial Woes: $40 Million Debt Revealed

11 Dec 2025: Paige Estritori

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

Crusader Caravans and BIG4 Holiday Parks Join Forces

11 Dec 2025: Paige Estritori

In a strategic move to enhance the caravanning experience for Australians, Crusader Caravans has announced a partnership with BIG4 Holiday Parks. This collaboration aims to provide new caravan owners with a suite of exclusive benefits, enriching their travel adventures across the country. - read more

Click for more Finance News