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...
Dramatic Rise in Advice Fees as Planner Numbers Dive (1)
2 February 2021 by John Collett, Brisbane Times
The 2020 fees survey conducted by Adviser Ratings was completed by about1400 planners. Almost a fifth of their clients received “one-off” advice, with the remainder receiving ongoing advice. “I am not seeing a lot of appetite from adviser...
MID-TIER GROUPS BENEFIT AS INDUSTRY EXODUS CONTINUES
1 February 2021 by Sarah Kendell, IFA
More than 70 advisers have already left the industry in the first few weeks of 2021, but a number of mid-tier dealer groups are still posting solid gains in their adviser footprints, according to new data from Adviser Ratings.
AMP, banks lead exodus as financial planners flee the changing industry
12 January 2021 by Glenda Korporaal, The Australian
Rainmaker’s figures show SMSF Advisers Network down by 91 over the year to 839, just behind AMP, but industry analyst Adviser Ratings puts SMSF Advisers ahead of AMP, estimating that the latter’s network was down to 820 by the end of 2020....
DATA REVEALS ‘BIG UPTICK’ IN ADVISER EXITS
11 January 2020 by Sarah Kendell, IFA
According to the group’s weekly adviser movements update, 78 advisers left the industry in the week to 24 December 2020, which was “a big uptick from prior weeks”, Adviser Ratings founder Angus Woods said. Including data from Adviser Rati...
Callaghan Hands Retirement Product Providers a Super Lifeline
23 November 2020 by Aleks Vickovich, AFR
There were 21,631 registered financial advisers in Australia as at the end of June, according to research house Adviser Ratings, a 21 per cent decline in the workforce year-on-year.