Continuing market volatility may force self-managed superannuation funds (SMSF) and industry fund members to turn to a financial adviser for assistance, according to the chief executive of a large dealer group.
"There are some obvious advice opportunities that the industry will benefit from as a result of ongoing market volatility," Financial Services Partners chief executive Geoff Rimmer said.
"Many self-managed superannuation fund members will realise that investment management requires specialist assistance from a qualified adviser with access to specialist research."
He said many super fund members, including industry fund members, will be looking for advice given this is the first time many of them will have experienced a negative return on their account.
"The feedback we are getting is that most industry fund members have access to partial or no advice," Rimmer said.
As well as the demand for advice set to be highlighted in 2009, as it was in 2008, he said the level of transparency of advice givers will also be in the spotlight.
"When markets are positive, it's harder to see the difference between good advice and a positive investment return as, generally, it is easier to get a good return when things are going well all round," Rimmer said.
"What we see now though is that the right advice strategy, regardless of investment choice, is really something consumers are looking for in these uncertain times.
"As consumers become more financially savvy, they are recognising the value of advice and strategy above and beyond investment returns."
