Post-Hayne chaos may yet sink financial advice industry
31 January 2020 by Aleks Vickovich, AFR
In the 12 months since Hayne, the cost barriers have only risen. According to data from research house Adviser Ratings, median fees charged by advisers increased by almost 12 per cent to $2800 per client per annum.
Why big banks’ private wealth advisers want to break free
24 January 2020 by Aleks Vickovich, AFR
According to data from research house Adviser Ratings, Commonwealth Private currently has 45 financial advisers operating under its licence, down from 62 advisers in September, representing a 27 per cent decline.
Bells and whistles: Macquarie to offload private wealth back-end
23 January 2020 by Sarah Thompson, Anthony Macdonald and Tim Boyd, AFR
The licensing entity Macquarie Equities had 144 advisers on its books at December 2019, down from 150 in September, 212 in December 2018 and 282 in December 2017, according to data from research house Adviser Ratings.
CBA mass exodus hits private bank
23 January 2020 by Aleks Vickovich, AFR
The Australian Financial Review can reveal that Commonwealth Private has 45 financial advisers operating under its licence. The figure is down from 62 advisers in September, according to data from research house Adviser Ratings, representi...
Aberdeen Standard, Hub24 target financial advice orphans
21 January 2020 by Aleks Vickovich, AFR
Data released by research house Adviser Ratings in December found that median fees charged by advisers increased by 12 per cent to $2800 per client per annum in 2019, further blocking low balance customers from accessing professional advic...
ASIC slugs super funds, advisers, brokers with surprise levy blowout
15 January 2020 by Aleks Vickovich, AFR
In 2019, the median cost of financial advice increased by 12 per cent to $2800 per client per annum according to research house Adviser Ratings.
Super funds hold antidote to rising financial anxiety
14 January 2020 by Aleks Vickovich, AFR
Data released by research house Adviser Ratings in December found that more than 4000 professional financial advisers exited the industry in 2019 due to rising regulatory costs and minimum education standards, representing a 15 per cent re...
Adviser exodus stalls… for now
9 January 2020 by Tahn Sharpe, Professional Planner
“There was a marked slowdown in Q3 following the government’s announced extensions for advisers to meet the [Financial Adviser Standards and Ethics Authority] deadlines,” Adviser Ratings CEO, Mark Hoven, says. In a related study, the Q3 Ad...
Former AMP, NAB financial adviser banned
8 January 2020 by Aleks Vickovich, AFR
According to data released by research house Adviser Ratings in December, there is now a "new big six" in financial advice made up of AMP and NAB, as well as ASX-listed wealth giant IOOF and privately-owned groups SMSF Advisers Network, Ea...