Wealth Advice Model Is ‘Broken’
22 November, 2021 by Aleks Vickovich
Wealth managers and the corporate regulator have warned that over-regulation has blocked ordinary Australians from getting advice about how to manage record superannuation and household wealth balances. The median price of professional fi...
Small Advice Firms Networking Is ‘Powder Keg Waiting To Explode’
22 November, 2021 by Liam Cormican, Money Management
As adviser numbers shrink and compliance costs increase, smaller advisories will form networked partnerships, sharing knowledge and technology to help them drive down costs, according to Viridian Advisory. According to data from research h...
Exodus Improving Adviser Quality: ARdata
29 October, 2021 by Tahn Sharpe, Professional Planner
The new face of advice looks markedly different to that of its predecessor, the group writes in its Q3 Musical Chairs report, with the remaining 18,901 registered advisers better educated, more qualified and more likely to “behave in ways ...
Private wealth enjoys its ‘best conditions in 30 years’
13 October, 2021 by Aleks Vickovich, Financial Review
Private wealth advisers are riding the $2.3 trillion green investing boom and bulging assets of Australia’s richest people to record revenues while advisers to mum-and-dad investors face a profitability crisis. The opportunity for private ...
Clock Ticks For Planners Yet To Pass Compulsory Test
12 October, 2021 by John Collett, Sydney Morning Herald & The Age
How many attempts did your financial planner take to pass a compulsory 3½-hour knowledge test that is part of a raft of regulations designed to weed out dud planners? Or is your planner yet to pass, despite the first exam session being he...
Financial Advice A Loss-making Business: KPMG
12 October, 2021 by Aleks Vickovich, Financial Review
Modelling by professional services giant KPMG has found the average cost to provide financial advice exceeds the price paid for that advice by 30 per cent, reigniting calls for red tape to be stripped from the troubled sector. The findings...
9 Questions To Ask A Financial Adviser (Before Hiring One)
23 September 2021 by Grace Oliver, Morningstar
Before you seek advice, consider these questions in order to make sure you get the right adviser for you. According to researcher Adviser Ratings, advice fees are on the rise, rocketing more than 28% in the last to years.
The ‘Pincer Movement’ For Financial Advisers
22 September, 2021 by Laura Dew, Money Management
Financial advisers are facing a “pincer movement” from compliance and educational requirements, with “deeply concerning” numbers of advisers leaving the market. Research by the AFA, IOOF and Adviser Ratings had found that Australians who r...
How Perpetual is Building The ‘Freehills’ Advice Model
13 September, 2021 by Aleks Vickovich, Australian Financial Review
The 135-year-old investment manager will buy more retail financial advice firms in an attempt to capitalise on the imminent generational wealth transfer. And there is no shortage of firms up for sale. Research house Adviser Ratings estim...