Japanese Employees Prefer Face-To-Face Financial Advice: Study Reveals

December 11, 20158:40 am1385 views

A new study conducted by Ephraim Global, the Tokyo-based asset management company, reveals that 57% of employed Japanese citizens favour getting face-to-face financial advice from a financial advisor.

On the other hand 32% of the respondents replied that they periodically count on financial advice which they receive from their employers, which indicates that there are many opportunities for business owners and managers to assist busy workers with planning their financial futures.

“Availability, confidence and time are crucial in terms of receiving helpful financial advice. In this day and age being able to access financial advice at the same place where one is employed can help workers be more calculated regarding future plans and likewise be more confident about their retirement security,” said Hajime Fujiharu, Chief Operating Officer at Ephraim Global.

“Business owners and firm executives around Japan have the perfect opportunity to engage their employees regarding retirement savings and to encourage them to use all of the available resources within their workplace to their advantage.”

See: Japan’s Talent Mismatch Ranks the Most Severe in Asia Pacific

For individuals looking for financial advice insufficient confidence represents a hindrance. According to the study’s results more than 50% of the respondent employees have said that they find it difficult to know what sources and advisors are trustworthy enough for them to use.

Particularly, young professionals that are only just starting on their career path aren’t certain about where they should begin looking for advice: 29% of employees between the ages of 18 to 35 have replied that they have no knowledge regarding the questions they should ask a financial adviser.

By offering employees access to financial guidance throughout the entirety of their careers, from the moment of hire to nearing the age of retirement, employers stand to gain a superior level of confidence and reliability, retain skilled talent and emphasize the relevance of financial planning.

Also read: Number of job Advertisements in Japan Increased by 11%: Asia Job Index Q3 2015

Image credit: sociorocketnewsen

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