Posted by: Simon Hoyle, Professional Planner

Clients of financial planners are significantly better off and save more than people who are not clients, new analysis has found. The analysis, commissioned by the Investment and Financial Services Association of Australia (IFSA) and conducted by KPMG Econtech, has found that financial planners have a very strong positive influence on individuals' savings habits and patterns. People who are clients of financial planners save, on average, about $2500 a year more than people who are not clients.

In addition, the analysis has found that people who are clients of a financial planner have, on average, savings and investment account balances more than $8000 greater than people who are not clients.

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