Investors get advice, then make own purchases
The Australian Investors' Association says while investors often go to stockbrokers and financial planners for professional advice, they frequently then buy their shares via the Internet or through discounters.
The Association's survey found that investors get research and advice but only 27 per cent then go ahead and buy shares through the source of that advice.
A similar situation was found in the purchasing of managed funds: only about one-third go through their financial planners to place their investments. Over 35 per cent use the Internet or a discounter instead, and about 25 per cent go direct to the fund manager.