Survey: demand growing for adviser expertise on ethical investing

Meanwhile 56% of respondents to the annual survey on demand for ethical investing by RIAA (Responsible Investment Association Australasia) and Mindful Money expect advisers to be experts on lucrative financial options; a 4% increase.  Those expecting their KiwiSaver and other investments to be managed ethically rose to 77%, up 3%.

The survey of one thousand New Zealanders; 28% Baby Boomers (over 59), 26% both Gen X (44-58) and Millennials (29-43 years) and 20% Gen Z (18 to 28), asked extra questions on financial advice and advisers. More than half (51%) of respondents have had financial advice, but only 10% regularly.

Reasons given were needing professional specialist advice (39%), getting a mortgage (24%), putting money aside for children or grandchildren (14%), a life-changing event (13%) and looking for ethical/sustainable options (12%).

Relatively few had obtained financial advice from a robo-advice service (6%) or said they would consider it in future (15%). Of the others, 31% hadn’t  heard of robo-advice and 39% said they wouldn’t take it.