Benefits of Financial Advice

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7 Researched Benefits of Financial Advice

By Andrew Newman

People who received financial advice saved $2,457 more each year than those who had not received financial advice, according to a recent KPMG Econtech research report.

This suggests that people receiving financial advice
could be $49,140 better off over 20 years.


The report, conducted on behalf of the Investment and Financial Services Association, also estimated how the prospect of more Australians receiving financial advice could benefit the wider economy.

The 7 benefits of financial advice from the report are summarised below:

  • Provision of an individual wealth management strategy.
  • A reduction in risk through diversification.
  • A better match between an individual's risk profile and asset selection.

  • Financial discipline.
  • An average increase in personal savings on average of $2,457 per annum.
  • At a national level, the ability to reduce the dependence on foreign financing of domestic capital, could lower the risk premium for investment in Australia.
  • At a national level, increased national savings has the potential to reduce the current account deficit. Remaining finances mean higher investment and capital stock gains, in turn supporting gains in GDP. 
Sourced from Investment and Financial Services Association ‘Value Proposition of Financial Advisory Networks'.

Great Reading,
Great Services

Technocash Limited is pleased to provide access to a collection of useful articles on benefits of financial advice, business, finance and money transfers.


Technocash provides a range of accounts to facilitate international payment processing without using credit cards. Our accounts online hold all major currencies such as USD, EUR, GBP, YEN, CAD, NZD, AUD, PHP, BRL etc in the one account. You can easily and immediately do a currency exchange from one currency to another.


In Australia and New Zealand most financial transactions are made via online bank account transfers. Technocash assists our clients with this process by providing access to these types of transfers.


Read more about our business accounts here.


If you would like to recommend or submit an article please contact Technocash Limited at info@technocash.com. Please enjoy these articles.

"There is a very easy way to return from a casino with a small fortune: go there with a large one."

— Jack Yelton
"My problem lies in reconciling my gross habits with my net income."

— Errol Flynn
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