Australians are twice as likely to turn to family and friends for financial advice (41%) than see a professional adviser (23%), new research shows.

The study of 19,092 consumers in 19 territories around the world was commissioned by the Financial Planning Standards Board and Australia’s Financial Planning Association (FPA), and conducted by GfK.

About 44% of respondents worldwide rely on friends and family for advice, while 41% turn to websites. In Australia, 30% rely on electronic advice platforms.

Some 70% of Australians do not know who to trust when seeking advice on financial matters, compared with 66% worldwide.

Trust is a priority for 64% of Australians seeking advice, compared with 68% globally.

FPA CEO Mark Rantall says the survey reaffirms the association’s own findings.

“It validates our strategy of lifting education and professional standards of professional financial advisers, to help earn the trust of more Australians,” he said.

“The FPA has an incredible opportunity to help Australians take control of their finances, be more confident and have greater financial wellbeing.”