A Top 100 listing with 108 names on it? What gives? A lot has changed since venerable US investing magazine Barron’s first joined with The Australian to publish financial adviser ratings in 2017.
Most obviously, and perhaps ominously, the number of licensed financial advisers has plummeted from more than 27,959 in 2018 to 16,356 as of the end of last month, according to data compiled by Adviser Ratings.
The exodus is largely the result of advisers failing to meet the more stringent professional requirements introduced in the wake of the Hayne royal commission into banking.
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