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Savings and Investments in Australia 2009 - Part 2 The Consumer Survey

Datamonitor
May 7, 2009
107 Pages - SKU: DFMN2268783

Abstract Table of Contents Search inside this report Related Reports

Countries covered: Australia

Introduction

The Retail Savings and Investments in Australia 2009 - Part 2 report offers consumer analysis on the findings from the Australian Financial Services Survey. Topics of discussion include consumer confidence, investment product arrangement methods and financial planning.

Scope

Savings and investments consumer data from the Australian Financial Services Survey conducted in April 2009 with over 2300 respondents is provided.
Responses are proportionally split over six age bands to provide a glimpse of segmentation in the market.

Highlights

Tougher economic conditions are expected ahead by consumers and as such the majority will only deal with an established provider and are reluctant to invest in equities at least over the short-term.

Face-to-face in a branch and online are the top two methods for arranging investment products. The younger generation is more comfortable and willing to use the internet to arrangement investments as compared to the older generation.

Two-thirds of Australian investors manage their own portfolio as compared to having a financial planner. For various reasons, including the typical size of their asset base, the older generation is more likely to have a financial advisor as compared to the younger generation.

Reasons to Purchase

Access unique Australian consumer insight about how they would like to interact with their financial provider.
Discover how consumers feel about investing in the 12 months from April 2009.
Review the key reasons why investors picked their current financial planner and what improvements they would like to see.

Overview: Catalyst; Summary; Executive Summary; The majority of consumers believe there will be tough economic times ahead for 2009; Some Australian consumers are considering purchasing investments in 2009; Online investment arrangement is becoming fairly common with the younger generation; Younger consumers are more comfortable and happy to use the internet for product arrangement; Older consumers are much more likely to have a financial advisor as compared to their younger counterparts; Table of Contents; Table of figures; Table of tables
Chapter 1 Consumer Confidence: The majority of consumers believe there will be tough economic times ahead for 2009; As such, consumers are turning to more established financial providers; However, some Australian consumers are considering purchasing investments in 2009
Chapter 2 Financial Product Arrangement: Consumers have a preference for arranging their investments face-to-face in a branch; Online investment arrangement is becoming fairly common with the younger generation; Customers want to discuss their product options and as such this is hindering online product arrangement; Younger consumers are more comfortable and happy to use the internet for product arrangement; Consumers have a 'trust' factor with regards to online savings accounts
Chapter 3 Financial Planning: Two-thirds of respondents manage their own investments; Older consumers are much more likely to have a financial advisor as compared to their younger counterparts; Professional advice was the largest influencer for older consumers choosing their financial planner; The top two improvements that clients want from their financial planner is more regular information and more face-to-face contact
APPENDIX: Definitions; Investments; Older generation of respondents; Product arrangement; Younger generation of respondents; Data tables; Methodology; Further reading; Ask the analyst; Datamonitor consulting; Disclaimer
List of Tables: Table 1: Over the next 12 months how likely are the following in your view:; Table 2: Attitudes towards financial services:; Table 3: Do you currently have or plan on taking up investments including shares, mutual funds, bonds or investment property?; Table 4: Financial product arrangement preferences for those with investments:; Table 5: How did you arrange you investments?; Table 6: What are the obstacles for you arranging financial products over the internet?; Table 7: Who do you have as your main financial planner?; Table 8: With regards to your financial planner, why did you choose this provider?; Table 9: What improvements could your financial planner make regarding service?
List of Figures: Figure 1: Consumers feel that economic conditions will get worse over the 12 months from April 2009; Figure 2: Younger respondents are more likely to take up investments in the 12 months from April 2009; Figure 3: While face-to-face is the dominate method for investment arrangement across all ages, younger consumers are more likely to arrange investments over the internet than their older counterparts; Figure 4: The reasons slowing the uptake of financial product arrangement over the internet was fairly similar across all the age bands; Figure 5: The likelihood of having a financial planner increases with age; Figure 6: Consumers feel that economic conditions will get worse over the 12 months from April 2009; Figure 7: Consumers want to deal with a well-known financial services provider because of the uncertainty in the market; Figure 8: Younger respondents are more likely to take up investments in the next 12 months; Figure 9: Face-to-face in a branch is the leading method for investment product arrangement; Figure 10: While face-to-face is the dominate method across all ages, younger consumers are more likely to arrange investments over the internet than their older counterparts; Figure 11: More consumers were concerned with discussing their product options as compared to security when considering online product arrangement; Figure 12: The reasons slowing the uptake of financial product arrangement over the internet was fairly similar across all the age bands; Figure 13: Two-thirds of consumers claim they manage their own investments; Figure 14: The likelihood of having a financial planner increases with age; Figure 15: The main factor for the older generation choosing their financial planner was professional advice; Figure 16: Providing more regular information and updates is the top ranking improvement that financial planners can make

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Savings and Investments in Australia 2009 - Part 2 The Consumer Survey

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