Culture is king: Retaining PY talent in advice
4 March 2024 by Jasmine Siljic, Money Management
Retaining new entrants in the advice industry as they complete their Professional Year is a key focus for advice firms in 2024, while younger generations increasingly value workplace culture more than ever. Adviser Ratings’ Musical Chairs...
Managed accounts see 50% rise in adviser usage
27 February 2024 by Laura Dew, Money Management
More advisers than ever are using managed accounts with their clients, according to Adviser Ratings, with the sum rising to 54 per cent last year. In 2023, 54 per cent of advisers surveyed said they were using managed accounts for all or ...
Gap in advisers writing life insurance growing
14 February 2024 by Keith Ford, Independent Financial Adviser
In its latest edition of the Adviser Musical Chairs Report, Adviser Ratings found that just 480 advisers were responsible for writing half of the new business during 2023. The reason for this, according to Adviser Ratings, is the Life Ins...
Resumption of advice licensees on the rise
12 February 2024 by Independent Financial Adviser
Last week, Adviser Rating’s new report revealed that there were three departures for every new adviser in the last quarter of 2023. Namely, 264 exits were recorded in the period between October and December, suggesting that correcting the...
Self-licensing to remain strong trend in 2024
9 February 2024 by Laura Dew, Money Management
There remains a “strong appetite” for solo operators in the financial advice space, according to the latest quarterly Adviser Ratings’ Musical Chairs Report. In its latest report, the firm said 57 per cent of new Australian financial ser...
Smaller, privately-owned licensees dominate in numbers but not advisers
9 February 2024 by Chris Dastoor, Professional Planner
Just over four out five Australian financial services licensees permitted to give personal advice to retail clients have fewer than 10 advisers, illustrating how disjointed the licensee landscape has become. The latest quarterly Adviser R...
Threefold departures challenge profession’s stability
9 February 2024 by Maja Garaca Djurdjevic, Independent Financial Adviser
The latest quarterly Adviser Ratings’ Musical Chairs Report has painted a sombre picture of the profession’s ability to recoup its numbers, revealing that while a few dozen advisers entered the profession in the last three months, departur...
Advice sector ‘thriving’: Practice revenue up more than 5%
2 February 2024 by Keith Ford, Independent Financial Adviser
According to early data from the Adviser Ratings Advice Landscape study, the financial advice sector is “thriving”. The average increase in advice practice revenue is more than 5 per cent, Adviser Ratings said, while 35 per cent of practi...
Adviser Salary Increases Expected
2 February 2024 by Risk Info
Increased revenues, stable operational costs, and improved insurance terms are culminating in higher salaries for advisers, according to Adviser Ratings. The research firm says that early data from its ongoing Adviser Ratings Landscape St...