Media

In Brief: July Edition  

Do you have a good advice story?

Are you an adviser with a customer who'd like to tell their story how your advice helped them?

Are you a customer with a good story about how advice has added value to your life?

Tell us about it

Advice fees stabilise amid political noise on cost

« back to media

26 July 2023 by Chris Dastoor, Professional Planner

Article link: https://www.professionalplanner.com.au/2023/07/advice-fees-stabilise-amid-political-noise-on-cost/

Research from two separate financial advice software providers has found fees have not materially increased over the last year.

Despite fees largely stabilising this year, a poll from Adviser Ratings released last year found advice practices anticipated increasing their fees this year.

The same survey found one in 20 Australians were willing to pay $2500-5000 a year for advice, while one –in 10 would pay up to $2500 a year.

The exodus of advisers since the Hayne royal commission has led to the supply of advice being outweighed by demand.

The Adviser Ratings ‘Landscape Report’ in April found one-third of practices were willing to take on more clients, but at the expense of less profitable ones.

However, whether average fees have gone up because lower balance clients have dropped off is a matter of debate.





Comments

No comments added.


Add comment

Name

Email

Comments

Enter code:*

Add comment


« back to media