Could the Adviser Exodus be Turning Around?
9 February 2021 by Sarah Kendell, IFA
Sharing the latest adviser movement statistics, Adviser Ratings founder Angus Wood noted that just two advisers had ceased their authorisations in the week to 25 February, while two had joined the industry. A further 18 had switched licens...
What's the Future for Financial Services?
1 March 2021 by Gary Anders, In the Black
Mark Hoven, CEO of financial advice data and ratings agency Adviser Ratings, agrees that cutting regulatory compliance is paramount. “We’re still looking at another 5000 advisers who are likely to leave the industry in the next year or so...
Hoven to Depart Adviser Ratings
22 February 2021 by Mike Taylor, Money Management
The departure of Hoven will see a number of internal movements at Adviser Ratings with Claire Virtue being promoted to Chief Operating Officer, (COO) and with Adviser Ratings founder and chairman, Angus Woods, returning to an executive rol...
Small business groups urge the federal government to offer $5,000 financial advice subs...
11 February 2021 by Lois Maskiell, Smart Company
The proposal for a financial advice subsidy comes after a recent study on the cost of advice fees revealed they’ve increased by 22% since 2018. The median fee charged by 1,500 advisors surveyed was $3,256 in 2020 as compared to $2,510 in 2...
Advice industry emerges from the fog
9 February 2020 by Tahn Sharpe, Professonal Planner
According to the Adviser Ratings Musical Chairs Q4 report there has also been a significant slowdown in adviser movement, with less advisers switching or ceasing licensees in the December quarter than any quarter stretching back to early 2...
ADVICE FEES JUMP OVER 20%
9 February 2021 by Sarah Kendell, IFA
Data from Adviser Ratings’ 2020 Financial Advice Benchmarking Study, which took in responses from around 1,500 advisers, revealed that median advice fees had risen to $3,256 in 2020. This was up 16 per cent from the median advice fee of $...
Adviser decline approaches crisis point
5 February 2021 by Greg Bright, Investor Strategy News
Mark Hoven, chief executive of Adviser Ratings, however, was able to see some silver linings in the data, with an expectation of an improved revenue environment ahead for the remaining adviser population and continued growth in the number ...
Adviser Outflows Slow, Zombie Licences Grow
4 February 2021 by Lachlan Maddock, IFA
Total adviser numbers contracted by 388 (1.8 per cent) for the quarter, leaving the total population at 21,146 – significantly better than previous quarters, according to the latest Adviser Ratings Musical Chairs report, suggesting that ad...
Dramatic Rise in Advice Fees as Planner Numbers Dive
2 February 2021 by John Collett, SMH
The median fee per client at the end of 2018 was about $2500, rising to about $2800 a year later, a rise of 12 per cent, according to a survey conducted by Adviser Ratings. Fees rose by a further 16 per cent in 2020 to about $3240. “Advise...