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BT sheds light on consumer age profiles

Consumers appear to develop an interest in financial advice in their mid-40s, according to BT Financial Group.

Data from BT’s recently launched Adviser View website shows 34% of the first 500 people seeking advice were aged 55-64.

Only 9% were aged 35-44, with 17% aged 45-54. Men were more likely to seek advice than women.

Consumers do not conduct specialty searches, suggesting they do not have a clear idea of the services financial advisers provide, BT says.

GM Advice Mark Spiers says the website provides an insight into consumers’ views of financial advice.

It provides “a forum to give honest feedback on their adviser and the value of their advice. Ensuring Australians can access financial advice how and when they want to, through sites such as Adviser View, means more Australians will have better financial outcomes.”

The website launched in October and has had more than 32,700 unique visits, with more than 21,150 searches for advisers.