Men are more likely to seek financial advice but women are more satisfied with the experience, new research suggests.
Women are trailing behind men in seeking financial advice, with 31 per cent of men using a professional financial adviser compared to 25 per cent of women, according to the results of a nationwide survey by industry research group Brandmanagement.
"Females are still less inclined to seek advice," Brandmanagement head of market intelligence Craig Phillips said.
"Perhaps there's a challenge for the industry to try and make its services more attractive to females."
The survey of 4,271 people found 75 per cent of respondents who currently use an adviser describe their experience as 'good' or 'very good', with a higher number of women than men saying they are very happy with their financial adviser.
"Females are having a better experience with their planners," Phillips said.
He added that both genders are generally happy with the financial advice they receive due to favourable market conditions.
"When markets are booming everyone's happy and has a good time," he said.
The online survey was conducted over December 2006 and January 2007 for the company's soon to be released CoreData Australian Consumer Finance Report. Respondents were classed as affluent and mainly well educated.
Brandmanagement surveyed 1000 women last year and found less than a quarter of women rated their financial knowledge as strong, compared to nearly half the male respondents.
