ADVISERS RECONSIDER RETIREMENT AS EXODUS SLOWS
19 May 2020 by Sarah Kendall, IFA
Adviser Ratings’ Musical Chairs Report for Q1 2020 revealed that the industry experienced a net decline of just 678 advisers by the end of the March quarter, compared with 1,133 advisers leaving the industry in the last quarter of 2019. T...
Coronavirus delays standards regime changes for the financial advice sector
18 May 2020 by James Kirby, The Australian
The effective extension of the FASEA (Financial Adviser Standards and Ethics Authority) regime comes as the Adviser Ratings report reveals key changes occurring across the sector in recent months. In essence, the practice of offering full ...
16,000+ Advisers Still to Sit FASEA Exam
18 May 2020 by RiskInfo
To date only 6,408 advisers have passed the FASEA exam, leaving another 16,000 plus “to still complete and stay in the industry”, says Adviser Ratings in its report on adviser movements.
AMP adviser workforce drops below 2000
13 May 2020 by Aleks Vickovich
AMP subsidiaries Charter Financial Planning and AMP Financial Planning (AMPFP) were among the licensees hit hardest by net adviser outflows in the first quarter of 2020, losing 26 and 57 authorised representatives respectively, according t...
Robo-adviser waives fees to prevent market 'gambling'
8 May 2020 by Aleks Vickovich, AFR
Professional financial advisers play an important role in stopping consumers from engaging in this kind of reckless, short-term investing, but affordability of advice remains a major hurdle, Mr Garrett said. The average fees for profession...
How Westpac threw a spanner in the wealth-exit works
8 May 2020 by Aleks Vickovich, AFR
Panorama now sits just below Netwealth and Hub24 in third place for customer satisfaction in almost all categories, according to research house Adviser Ratings. It has performed even better in sentiment surveys by rival researcher Investme...
Beyond pricing: the real battle for platform supremacy
7 May 2020 by Tahn Sharpe, Professional Planner
“That was the next wave,” recalls Mark Hoven, chief executive at Adviser Ratings. “Having twin offerings based on functionality and price.” After BT moved on pricing its major competitors followed, including AMP’s MyNorth, MLC’s Masterkey ...
Advice fee capped at $300 for early super release
21 April 2020 by John Collett, Brisbane Times
Mark Hoven, chief executive of Adviser Ratings, which rates financial advisers, says some funds –including the country's largest, AustralianSuper, as well as CBUS and Sunsuper – have established relationships with financial planning firms,...
Inside H&R Block's plan to bring financial advice to the masses
17 April 2020 by Aleks Vickovich, AFR
For between $150 and $300, they can receive single-issue advice on topics such as retirement planning, life and risk insurance, superannuation or investing. Or they can access an 18-page retirement report, with no financial product recomme...