Under-40s more likely to seek professional advice - Legg Mason 2016 Global Investment Survey

The Legg Mason 2016 Global Investment Survey has revealed that 33 per cent of Australian investors sought advice, an increase of six per cent on 2015. 

Legg Mason had over 4,000 high net worth investors aged 40 to 75 and over 1,000 18-39-year-olds asked about their investment goals, across 19 global markets. 

Key findings

  • Over 70 per cent of Australian investors said they had total trust in professional financial advisers
  • Total trust levels are higher for advisers than sources like family, financial news, forums, and online platforms
  • Over 60 per cent of Aussie investors agree that seeking the advice of an adviser it key to understanding superannuation
  • Over half of the Australian respondents lost confidence in our superannuation system as a result of government changes
  • Those aged under 40 were more likely to use advisers than older investors (80 per cent and 46 per cent respectively)
  • Female investors are more likely to trust family, friends, or co-workers for advice compared to men