Is self-licensing right for your business?
30 January 2024 by Laura Dew, Money Management
Advisers may be contemplating the switch to running their own Australian financial services licence (AFSL) after the recent spike in micro-AFSLs, but commentators have warned it is not necessarily the right path for everyone. Research by...
Micro-AFSL trend to continue in 2024: Wealth Data
8 January 2024 by Jasmine Siljic, Money Management
The shift towards smaller advice practices obtaining their own Australian financial services licence (AFSL) will resume in 2024, according to Wealth Data’s Colin Williams. Money Management previously explored the reasons behind advisers c...
AMP doubles down on self-licensee support services
15 December 2023 by Jasmine Siljic, Money Management
AMP has revitalised its Jigsaw Advice Solutions business to provide expanded add-on services to self-licensed financial advisers. Earlier this year, Adviser Ratings found small licensee groups of one to 10 advisers have seen a 17 per cent...
Cost-of-living crisis sidelines ESG investment
11 December 2023 by Jasmine Siljic, Money Management
Investors are increasingly prioritising long-term financial stability over ESG investment as the cost of living bites, contrasting previous research. New research from Adviser Ratings has revealed that Australians are keeping their sights...
Declining profitability and the woes of risk advice
5 December 2023 by Zilla Efrat, Professional Planner
Holistic advisers are shying away from writing more risk, meaning that a mere 493 advisers wrote half of all life policies this year. But what’s behind this trend that could potentially lead to huge underinsurance among Australians? The 4...
Financial advice gap to remain despite government’s efforts to plug it
29 November 2023 by John Collett, The Sydney Morning Herald
The number of financial planners in Australia appears to have stabilised at almost 16,000, following a decline of about 12,000 since 2019’s peak, but changes underway by the federal government may only be partially successful in plugging t...
The two smaller platforms vying for advisers’ assets
27 November 2023 by Laura Dew, Money Management
Adviser Ratings has identified two smaller platforms, which are making inroads in challenging established players in the market, as switching movements heat up. “We are seeing intended flows still heading to HUB24 and Netwealth, with BT P...
WT Financial Group picks up Millennium3 for $2m
21 November 2023 by Simon Hoyle, Professional Planner
Listed licensee group WT Financial Group has acquired the Millennium3 Australian financial service licensee from Insignia for $2 million. WTFG chief executive Keith Cullen tells Professional Planner the deal was opportunistic after Insi...
Bridging the adviser shortage one entrant at a time
20 November 2023 by Jasmine Siljic, Money Management
Two industry professionals have shared the vital role of graduate programs in attracting new entrants into the financial advice profession. Earlier this month, Adviser Ratings’ research revealed signs that the advice industry is stabilisi...