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In Brief: July Edition  

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Accountants lead mass adviser exit as FY20 wraps up

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13 July 2020 by Sarah Kendell, Accountants Daily

Article link: https://www.accountantsdaily.com.au/business/14597-accountants-lead-mass-adviser-exit-as-fy20-wraps-up

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 groups had settled transactions.

The data revealed that it was not just older, retiring advisers leading the exodus, with 48 per cent of those who left over the week having between zero and 10 years’ experience in the industry.


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