YBR to hold consumer advice event

This year, the YBR team are expecting particular interest from older Australians after recent data released by the Australian Bureau of Statistics (ABS) showed the number of over-45s who say they will not retire before turning 70 has significantly increased from 8.0 per cent to 23 per cent in the past decade.

YBR executive chairman Mark Bouris said the ABS findings have sparked fresh concerns that a comfortable retirement is now “out of reach” for hundreds of thousands of Australians.

“Everyone deserves the chance to retire comfortably but people need to take action,” Mr Bouris said.

“Getting financial advice early in life allows you [to] take advantage of time and compound interest. These are a powerful pair when it comes to creating a comfortable life.

“Ask My Advice Day is an easy way to get started by just coming in and asking a qualified adviser any burning questions – whether it’s on your retirement, your home loan, superannuation, insurance or savings.”

This year’s event comes as recent YBR research showed the reasons people are not seeking advice from a financial adviser include the belief that they do not need one, cost, reputational worries, the perception that advisers are only for the wealthy, and embarrassment about the state of their finances.

[Related: Pepper Money announces national broker roadshow]