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Covid Pressure Sees Boutique AFSLS Abandon ShipCovid Pressure Sees Boutique AFSLS Abandon ShipCovid Pressure Sees Boutique AFSLS Abandon Ship

20 August 2020 by Sarah Kendell, IFA

Adviser Ratings’ Musical Chairs Report for Q2 2020 found that 83 financial services licences had been discontinued in the three months to June, a significant rise on the 61 licences that had ceased in the first quarter of the year. The re...

Professionals exit but demand for financial advice still strongProfessionals exit but demand for financial advice still strongProfessionals exit but demand for financial advice still strong

18 August 2020 by John Collett, Brisbane Times

Mark Hoven, chief executive at Adviser Ratings, says the latest fall in numbers comes at a time when demand for financial advice is high because of severe financial distress being felt in the wake of the COVID-19-induced economic crisis. ...

Professionals exit but demand for financial advice still strong (1)Professionals exit but demand for financial advice still strong (1)Professionals exit but demand for financial advice still strong (1)

18 August 2020 by John Collett, SMH

Over the three months to June 30, the adviser population dipped to about 21,600 – almost 1200 less than the previous quarter, when their numbers fell by 670, Adviser Ratings figures show. Mark Hoven, chief executive at Adviser Ratings, say...

Professionals exit but demand for financial advice still strong (2)Professionals exit but demand for financial advice still strong (2)Professionals exit but demand for financial advice still strong (2)

18 August 2020 by John Collett, The World News

Mark Hoven, chief executive at Adviser Ratings, says the latest fall in numbers comes at a time when demand for financial advice is high because of severe financial distress being felt in the wake of the COVID-19-induced economic crisis. H...

Professionals exit but demand for financial advice still strong (3)Professionals exit but demand for financial advice still strong (3)Professionals exit but demand for financial advice still strong (3)

18 August 2020 by John Collett, The Age

Mark Hoven, chief executive at Adviser Ratings, says the latest fall in numbers comes at a time when demand for financial advice is high because of severe financial distress being felt in the wake of the COVID-19-induced economic crisis. H...

Less Than One in Three Advice Graduates Enter the IndustryLess Than One in Three Advice Graduates Enter the IndustryLess Than One in Three Advice Graduates Enter the Industry

14 August 2020 by Sarah Kendall, IFA

The research, conducted by Adviser Ratings, surveyed academics from nine universities offering financial planning courses and found that just 28 per cent of students were currently making their way into the advice industry after enrolling ...

$120BN in Client Money Abandoned as Advisers Walk Away$120BN in Client Money Abandoned as Advisers Walk Away$120BN in Client Money Abandoned as Advisers Walk Away

13 August 2020 by Sarah Kendell, IFA

Adviser Ratings’ Musical Chairs Report for the second quarter of 2020 revealed that 1,198 advisers left the industry in the three months to June, with most of the exodus coming from privately owned licensees. Adviser Ratings also flagged ‘...

Self-Licensing on the Rise as Dealer Group Fees SurgeSelf-Licensing on the Rise as Dealer Group Fees SurgeSelf-Licensing on the Rise as Dealer Group Fees Surge

11 August 2020 by Sarah Kendall, IFA

The Adviser Ratings statistics for the week to 6 August revealed that the advice sector had seen a net loss of 20 advisers, with a further 34 practitioners switching licensees over the period.

InFocus: Increasing access to simpler, specific advice on the issues that matter mostInFocus: Increasing access to simpler, specific advice on the issues that matter mostInFocus: Increasing access to simpler, specific advice on the issues that matter most

7 August 2020 by Money Management

The average financial advice fee per annum according to Adviser Ratings is $3,600 and the average age of a client is 55. This is because the requirements for producing comprehensive high-risk advice such as asset allocation or wealth strat...