The Royal Commission has exposed a litany misconduct that has had a profound impact on advice businesses. Dover’s closure and the rethinking of wealth management business ownership by banks are two major developments that have affected adviser movements. Industry Outlook There are around 24.9k advisers on 1 July 2018 which is a 200 drop since...
Up to 70% of Australian financial advisers will need to start some form of further education that needs to be completed by 1 January 2024 if they want to continue giving advice to consumers thanks to new Commonwealth Government regulations. An astounding 48% of Australian financial advisers don’t have a degree, while another 20% don’t...
It is not uncommon for people to change firms within an industry. The real question is not who has changed jobs but why? Better career opportunity? Higher remuneration package? More exciting client base? Know the answer to these questions and you will be one step ahead of your competitors and be able to keep your...
For most investors deciding whom to invest with is perhaps the most difficult decision. Once a decision has been made the next step is who do they know, who do they trust and how much should they invest. It is quite common for everyday investors such as mums and dads to take the safety...
In this article (Updated 22-Feb-2018 to show rankings from 1 July 2015 for simplicity), we explore how the need to have scale but be independent is playing out in the financial planning industry by analysing ASIC’s Financial Advisers Dataset (1 July 2017). The six largest financial planning groups in Australia need no introduction but read...