New survey suggests Aussies opting for investment info online over advisers

ifa

A new survey has found that online trading sites now outrank advisers as the most popular source of information for Australian investors. Of the 752 investors surveyed by CoreData on behalf of online trading platform Moomoo, 38 per cent said that they sourced their investment information from online communities, ahead of traditional wealth advisers (29 per cent) as well as family and friends (32 per cent). Moomoo marketing director Andrew Rogan said that a shift in behaviour had been seen during the past year coinciding with a volatile period for stock markets and changing global market outlooks.

“These issues are regularly discussed in our community forums — people are sharing their experiences from around the world to help shape personal investment decisions,” he said. “There’s a wealth of information and experience available to investors willing to put the work into cultivating a strong community.” According to the survey, 47 per cent of investors aged over 60 now source their investment information online, overtaking the 38 per cent who said that they use traditional advisers.

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