Only 17% of investors confident without financial advice

Whilst 8 in 10 rely fully on their advisors.

Investors are searching for more trusted advice when it comes to financial security as only 17% of them are confident they do not need professional help, Natixis Global Asset Management revealed.

According to its study, 81% of investors put their trust in their financial advisor, and 38% do in social media groups.

Over half or 52% of investors in the country also think they need professional help in understanding risk, which is higher than the global rate of 47%.

Moreover, 37% said they need advice with long-term care planning.

Singaporean investors are less likely than global investors to think they need help with tax planning with 39% against 44% globally.

Only 20% think the same with debt management and use of credit.

Madeline Ho, executive managing director, head of Wholesale Fund Distribution, Asia Pacific at Natixis Global Asset Management, said, "Investors are acutely aware that financial advisors bring value to the table when looking to make investment decisions. The role of financial advisors is to put their insights into action and help investors as they build up strategic portfolios that are resilient to the volatility in today’s markets."