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Adviser numbers set to mourn more losses

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2 February 2023 by Jessica Penny, Independent Financial Adviser

Article link: https://www.ifa.com.au/news/32337-adviser-numbers-set-to-mourn-more-losses

After losing more than 12,000 advisers over four years, the industry needs to prepare for continued declines, according to Adviser Ratings.

As part of its annual Landscape Report, 11 per cent of advisers expressed their desire to leave, while 12 per cent were undecided.

Meanwhile, the remaining 77 per cent said they intended to remain in the profession.

Following rising compliance and insurance costs, in addition to general inflation, advisers have expressed frustration over maintaining and growing profitability. More than 90 per cent of practices told Adviser Ratings that they plan to lift their fees this year to stay afloat.

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