The Motley Fool

Australians wary of financial planners

Among the findings in the 2012 ASX Share Ownership Survey, which was released yesterday, was the revelation of the impact the financial crisis has had on our trust for financial planners.

The vocation where over a fifth of investors turned to for help in advice and information in 2010 took a slide in 2012 from 21% to 18%. This suggests investors are more cautious of taking advice from planners, some of whom were found to have pushed unsuitable and inappropriate investments on clients in return for large commissions in the years after the global financial crisis.

The decrease also coincides with the more than doubling of people who identified an online broker or trading platform as their go-to source of investment information from 5% to 11%. Many online brokers provide data on blue-chip companies like Woolworths (ASX: WOW), as well as banks like ANZ (ASX: ANZ) and Commonwealth Bank (ASX: CBA), which have been amongst the standout performers over the last 12 months.

If you’re in the market for high yielding ASX shares? Get “3 Stocks for the Great Dividend Boom” in our special FREE report. Click here now to find out the names, stock symbols, and full research for our three favourite income ideas, all completely free!

More reading

The Motley Fool’s purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead.  This article contains general investment advice only (under AFSL 400691). Motley Fool contributor Regan Pearson doesn’t own shares in any companies mentioned in this article.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now