Millions of Aussies don’t get financial advice
18 November 2022 by Tamika Seeto, Yahoo Finance
Millions of Australians don’t use a financial adviser, new research has found, and many are taking their finances into their own hands. The median ongoing fee for a financial adviser is about $3,529, according to Adviser Ratings. That’s a...
Which licensee segments have seen the biggest declines?
14 November 2022 by Laura Dew, Money Management
With adviser numbers having fallen below 16,000 for the first time this year, there has been a similar decline in the number of licensees. According to Adviser Ratings, there had been a move for advisers to opt for solo or boutique licens...
FPA and AFA confirm merger vote date
8 November 2022 by Laura Dew, Money Management
The Financial Planning Association of Australia (FPA) and Association of Financial Advisers (AFA) have confirmed the timing for a vote on a potential merger between the two parties. For the merger to succeed, 75% of members needed to appr...
VetPay named and shamed in Choice Shonky Awards
4 November 2022 by Nicola Field, Money Magazine
According to Adviser Ratings, in 2021 the median annual fee for advice jumped by 16% to $3,256. The rising cost reflects declining numbers of financial advisers, partly due to new educational requirements introduced following the banking ...
Industry backs AFA/FPA merger
2 November 2022 by Laura Dew, Money Management
Adviser Ratings has found more than 80% of advisers back the merger of the Financial Planning Association of Australia (FPA) and the Association of Financial Advisers (AFA) as most prefer to hold only one association membership. The FPA an...
CFS and XY team up to build PY community in new platform
20 October 2022 by Chris Dastoor, Professional Planner
CFS has joined up with XY Adviser to launch the Professional Year online community hub as part of its new people and culture platform Elevate. The firm said a major catalyst for developing the platform is the shrinking adviser base which i...
Regions that have lost more than one in four advisers
17 October 2022 by Maja Garaca Djurdjevic, Independent Financial Adviser
New research has revealed that while adviser numbers have been plunging across the country, some geographical regions have suffered more than others. According to Adviser Ratings, while advisers used to be mostly clustered around the metr...
Advisers more influential amid changing distribution landscape
13 October 2022 by Chris Dastoor, Professional Planner
The shifting advice landscape has seen a change of behaviour in product distribution channels, according to research from Adviser Ratings. The ‘Australian Financial Advice Landscape’ report was released earlier this year which found almos...
An overhaul of financial advice aims to make it cheaper, but will it erode consumer pro...
12 October 2022 by Rhiana Whitson, ABC News
The draft Quality Advice Review released for consultation last month largely backs industry concerns that over-regulation has made financial advice too expensive for most Australians to access. Just over 10 per cent of consumers, or 1.9 m...