Demand for advice on super growing, says BT

In a statement yesterday, BT said it has seen a 50 per cent surge in queries relating to superannuation matters since this time last year.

BT Financial Group’s head of financial literacy and advocacy, Bryan Ashenden, said there have been more enquiries than ever before concerning superannuation. This increase can be attributed, in part, to changes contained in the federal budget, he said.

“A confluence of factors, including the budget super changes, the maturation of our super system, our ageing demographic and ever increasing life expectancy, have brought superannuation advice and specialisation to the fore,” Mr Ashenden said.

“More advisers are seeking support around super and more advisers are providing super expertise generally.”

BT also reported that superannuation was the leading area for advisers seeking technical, legislative and strategic support in the June 2016 quarter.

“The spike in adviser inquiries around super, and specifically the budget changes, shows two things. First, advisers are acutely aware of what the pending changes are. Secondly, advisers are keen to engage with their clients around the coming legislative change to strategic advice, and how their clients will be impacted,” Mr Ashenden said.

“It’s certainly worthwhile to assess what strategies can be put in place now, prior to the changes taking effect, and also, to look at the longer term to ensure these changes are factored into your clients’ plans,” he said.