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Major banks slammed for abandoning wealth

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2 January 2020 by Aleks Vickovich, AFR

Article link: https://www.afr.com/companies/financial-services/major-banks-slammed-for-abandoning-wealth-20200106-p53p90

Data released by research house Adviser Ratings in December showed that financial advisers raised their fees by an average of 12 per cent to $2800 per client in 2019 in response to dwindling margin pressure as commissions are switched off and regulators expect to see the industry move to a more professional fee-for-service model.


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