Would the hassle and fees of financial advisers have deterred you from getting advice? And should it be given away for free or should it be charged?
Consumer Group Adviser Ratings said the average cost of financial advice last year was $3529 and only 1.9 million people received it, which was a record low.
Now- the Treasury is conducting a national review to try to simplify the system and improve accessibility.
The language used in financial advice is often difficult for anyone to understand - let alone those whose English is not their first language.
University of Newcastle report found a third of all Australians are financially illiterate, meaning they lack the ability to understand and use a range of financial skills, including personal financial management, budgeting and investing.
AMES Australia provides English language training, employment services, community engagement and settlement support for migrants, refugees and asylum seekers.
