Only 39% of Australians currently receive qualified financial advice, according to a Financial Planning Association (FPA) survey.

Of the 61% who do not, only 16% are considering it during the next year.

FPA CEO Mark Rantall says the research is worrying.

“The concern is that those who are in most need of advice, people in lower-income households approaching retirement, do not receive it. This will place a great strain on the entire economy and the pension system.”

Only 34% of respondents know a financial adviser they can trust, the study shows.

“The FPA community understands there is much progress to be made educating Australians about the benefits quality financial advice can make to their families’ lives,” Mr Rantall said.

“But we realise more needs to be done to improve access to qualified financial planners in an open forum.”

The FPA has invited consumers to meet advisers during a breakfast meeting at its Professionals’ Congress in Sydney on October 17.

“Despite the best efforts of the FPA community, clearly not enough Australians understand what a financial planner can do for them,” Mr Rantall said.

“In opening our Professionals’ Congress to consumers, we aim to demystify financial advice and empower everyone to improve their financial wellbeing.”