$120BN in Client Money Abandoned as Advisers Walk Away
13 August 2020 by Sarah Kendell, IFA
Adviser Ratings’ Musical Chairs Report for the second quarter of 2020 revealed that 1,198 advisers left the industry in the three months to June, with most of the exodus coming from privately owned licensees. Adviser Ratings also flagged ‘...
Self-Licensing on the Rise as Dealer Group Fees Surge
11 August 2020 by Sarah Kendall, IFA
The Adviser Ratings statistics for the week to 6 August revealed that the advice sector had seen a net loss of 20 advisers, with a further 34 practitioners switching licensees over the period.
InFocus: Increasing access to simpler, specific advice on the issues that matter most
7 August 2020 by Money Management
The average financial advice fee per annum according to Adviser Ratings is $3,600 and the average age of a client is 55. This is because the requirements for producing comprehensive high-risk advice such as asset allocation or wealth strat...
Industry lags on pitching advice as a career
17 July 2020 by Tahn Sharpe, Professional Planner
With the current adviser exodus expected to bottom out at under 15,000 advisers in the next few years according to Adviser Ratings – down from 30,000 in late 2018 – marketing advice as a profession may prove to be just as big a challenge a...
HOW TO SPEED UP YOUR BUSINESS GROWTH WITH ONLINE REVIEWS
13 July 2020 by Michael Back, IFA
There are a number of ways that you can be managing your online reputation including your company website, LinkedIn profile and review sites such as Adviser Ratings who do an excellent job at capturing individual adviser reviews from verif...
Accountants lead mass adviser exit as FY20 wraps up
13 July 2020 by Sarah Kendell, Accountants Daily
According to data from Adviser Ratings, 354 advisers ceased operating in the seven days to 2 July, a number that excluded more than 70 authorised representatives who were mid-merger and likely to re-enter the industry once their respective...
MASS EXODUS OF ADVISERS AS FY20 WRAPS UP
10 July 2020 by Sarah Kendell, IFA
In a video presentation, Adviser Ratings founder Angus Wood said the numbers of advisers leaving was “significantly higher than previous weeks”, and that the industry was losing significant numbers of experienced practitioners. “Ten per c...
Super Funds to Pick Up Where Banks Left
9 July 2020 by Sarah Simpskin, IFA
Adviser Ratings founder Angus Woods told ifa that a “huge swathe” of advisers will be attracted to super funds during the next year or two. “We are seeing a lot more of those sorts of organisations starting to bring on Industry Fund Servi...
Clever Money: Save $10,000 without taking out your super
9 July 2020 by Illawarra Mercury
Hundreds of members are offering financial advice free for early release super and redundancy during the pandemic because we need to make advice simpler and less expensive if we are to help Australians through this crisis," says Angus Wood...