AMP, banks lead exodus as financial planners flee the changing industry
12 January 2021 by Glenda Korporaal, The Australian
Rainmaker’s figures show SMSF Advisers Network down by 91 over the year to 839, just behind AMP, but industry analyst Adviser Ratings puts SMSF Advisers ahead of AMP, estimating that the latter’s network was down to 820 by the end of 2020....
DATA REVEALS ‘BIG UPTICK’ IN ADVISER EXITS
11 January 2020 by Sarah Kendell, IFA
According to the group’s weekly adviser movements update, 78 advisers left the industry in the week to 24 December 2020, which was “a big uptick from prior weeks”, Adviser Ratings founder Angus Woods said. Including data from Adviser Rati...
Callaghan Hands Retirement Product Providers a Super Lifeline
23 November 2020 by Aleks Vickovich, AFR
There were 21,631 registered financial advisers in Australia as at the end of June, according to research house Adviser Ratings, a 21 per cent decline in the workforce year-on-year.
Accountants, not advisers, selling up amidst struggles
12 November 2020 by Tahn Sharpe, Professonal Planner
In contrast with accountants, the flow of advisers looking to leave the industry has slowed. According to research house Adviser Ratings the total adviser numbers only contracted 1.8 per cent in Q3 2020, “comfortably” the lowest quarterly ...
EXITS, SWITCHES PICK UP AS YEAR-END DRAWS NEAR
11 November 2020 by Sarah Kendell, IFA
More than 30 advisers left the industry in the first week of November, with licensee switching also on the rise as boutique and mid-tier players gained in numbers, according to new data from Adviser Ratings. The statistics revealed that 3...
The fee evolution: Time to put a real price on your advice
30 September 2020 by David Haintz, Professional Planner
According to the research group Adviser Ratings, the proportion of advisers charging fixed fees increased from 50 per cent of the industry in 2018 to 69 per cent last year, with another 24 per cent of advisers adopting a hybrid model.
How Aussie Advice Fees Compare to Global Markets
30 September 2020 by Sarah Kendell, IFA
In a recent blog post, Global Adviser Alpha founder David Haintz said Australian advisers remained “well ahead of the bunch” in terms of evolving to a more modern fee model, with 69 per cent of advice practitioners now charging fixed fees,...
Advice Industry Needs to Promote Itself: FASEA
29 October 2020 by Sarah Simpkins, IFA
As captured in FASEA chief executive Stephen Glenfield’s opening statement to a parliamentary committee, there were around 900 potential new advice entrants enrolled in bachelor degrees or higher at the of 2019. Around 200 had completed th...
How Financial Advice can add 5.2pc to your Bottom Line
14 October 2020 by Aleks Vickovich, AFR
According to research house Adviser Ratings, the median fees charged by advisers increased by almost 12 per cent to $2800 per client per annum in the 2019 calendar year.