Question

There has been an increasing demand for financial planning advice across the Australian population over time because. Select one.
Select one:
a. An aging population has meant more Australians require advice with regard to their retirement needs.
b. All answers are correct
c. The ever-changing and increasing complexity of government rules around taxation, social security and superannuation.
d. The compulsory superannuation guarantee has meant more Australians have retirement savings that need to be properly managed to maximize the benefits in retirement.

Answer 1

The correct option is a.)An aging population has meant more Australians require advice with regard to their retirement needs. The Australian Government's intergenerational Report (IGR) projects that over the next years, the proportion of the population aged over 65 years will almost double to around 25 percent. Over time, the aging of population will result in a greater demand for Age Pensions and health and age care spending. The will also result in increasing demand for financial planning advice across the Australian population over time.