Over 2,000 More Advisers Predicted To Exit Industry In 2022
26 April, 2022 by Neil Griffiths, Independent Financial Adviser
Following the release of its Landscape Report, technology and ratings business – Adviser Ratings – has predicted that a further 2,387 advisers will depart in the industry in 2022. Only 1,200 risk specialist advisers currently remain.
6:1 Ratio Of Departing Advisers Versus New Entrants
26 April, 2022 by Chris Dastoor, Professional Planner
The ratio of advisers that leave the industry versus replacements is six-to-one, with the sector likely to reach 14,964 planners by the end of the year according to research group Adviser Ratings. 4,103 advisers ceased in 2021, with only 2...
SMSF Advisers More Likely To Use ETF's Than DIY Investors
26 April, 2022 by Lucy Dean, Australian Financial Review
Financial advisers are more likely to use exchange-traded funds for their self-managed super fund clients than self-directed investors, a new study has found, with advisers’ understanding of the diversification benefits of ETFs propelling ...
Specialist Risk Adviser Numbers Revealed
26 April, 2022 by Risk Info
There are now only approximately 1,200 risk specialist advisers in Australia, according to the Adviser Ratings’ Landscape Report. The comprehensive, 230 page report says the 2021 year closed a with further 609 specialist risk advisers (pur...
Advisers Told 'Biggest Shake-Up' May Result From Advice Review
26 April, 2022 by Insurance News
The Treasury-led Quality of Advice review may lead to the “biggest shake-up” seen in years for the advice industry, Adviser Ratings says, as efforts to reverse the sector’s decline continue. Adviser Ratings made the prediction in a new rep...
Meet The Under-45s Dubbed The 'Emerging Affluent'
22 April, 2022 by Aleks Vickovich, Australian Financial Review
New data suggests 1.9 million Australians under the age of 45 have an average portfolio value of $700,000 and are collectively worth about $1.5 trillion even though the generational wealth transfer from Baby Boomers to beneficiaries is sti...
Wealth Platforms Claw $3.3b as Wexit Frees Up Market
19 April, 2022 by Aleks Vickovich, Australian Financial Review
ASX-listed fintechs Hub24 and Praemium experienced net investor inflows of $2.6 billion and $725 million to their wealth management platform products respectively in the three months to March 31, as the big banks’ exit from the sector cont...
'Think Like ASIC' to Pass Adviser Exam
19 April, 2022 by Chris Dastoor, Professional Planner
Data from Adviser Ratings found the extension wasn’t a popular move with 60 per cent of advisers believing those unable to pass before the 31 December, 2021 deadline should not be able to provide advice in 2022.
100,000 Quit Financial Advice As Fees Jump Another 8pc
18 April, 2022 by Aleks Vickovich, Australian Financial Review
The median cost of financial advice services rose by $270 last year to $3529, pushing the number of professionally advised Australians below 2 million and many consumers into the hands of unlicensed social media influencers, according to a...