07 September 2007
Demand for financial advisors with Australia visas
Increasing demand for financial advisors from Australians is coupled with a chronic skills shortage in the industry, government research has revealed. Investor Daily magazine reports that recent changes to Australia's superannuation system could be part of the surge in demand, creating an opportunity for Britons wanting to make a new life in Australia by applying for an Australian visa.
A recent survey of 7,500 Australians aged 12 to 75 showed that 54 per cent had used an advisor for financial information or advice. This is a big jump from a survey last year, which showed that less than 30 per cent of people had used a financial advisor. The survey was commissioned by the government's Financial Literary Foundation to raise awareness of managing money.
However, the financial planning industry is suffering from a severe shortage of advisors. Investment and Financial Services Association chief executive Richard Gilbert told a superannuation conference in March that a supply crisis was a major problem in delivering advice.
"My contacts with the major dealer groups repeatedly reveal that they need more planners than are available. Our inquiries reveal that for some of the bigger firms, although a client may be able to get an appointment to see a planner in around a week, it will take up to two months for them to actually receive a plan," he said.
Australia needs skilled financial advisors: Anyone applying for an Australian visa should begin by completing the Australian Visa Bureau's online Australian visa application to see if they meet the Australian visa requirements.