ANZ axes 230 jobs, guts wealth business
6 March 2020 by Aleks Vickovich, AFR
The bank had 410 advisers on staff across its retail bank branches and private banking business at December 2018, according to data from research house Adviser Ratings.
Deloitte executive jumps ship to lead wealth firm's accounting push
4 March 2020 by Aleks Vickovich, AFR
Research house Adviser Ratings has speculated that the $746 billion self-managed superannuation fund (SMSF) sector has been a major driver. "This market remains one of the greatest opportunities for advisers, given the stranglehold account...
Govt in denial re industry challenges including unaffordable advice & need for financia...
3 March 2020 by Paul Tynan, CEO Connect Financial Service Brokers
A year after the Hayne Royal Commission, advice industry commentators continue to debate what the advisory sector will look like going forward. As the debate rages surveys such as Adviser Ratings, reveal a downward spiral with adviser num...
Has CountPlus found the formula for profitable financial advice?
2 March 2020 by Aleks Vickovich, AFR
Count Financial's adviser force had diminished by a third under the bank's ownership, from 518 in 2015 to 313 at October 2019, according to data from research house Adviser Ratings.
Adviser Exodus To Worsen In 2020: Synchron
19 February 2020 by Sarah Kendall, IFA
Addressing a media conference in Sydney on Tuesday, Synchron executive director Don Trapnell said the licensee had lost approximately 10 per cent of its adviser force in 2019 primarily due to the demands of the new FASEA standards, and exp...
Clients left in limbo as financial advisers head for the exits
18 February 2020 by John Collett, SMH
A report by Adviser Ratings shows a 15 per cent decline in the number of financial advisers last year to about 23,000. That includes accountants and stockbrokers who are licensed to give financial advice – but the vast majority are regula...
Clients left in limbo as financial advisers head for the exits (1)
18 February 2020 by John Collett, The Age
This inexorable across-the-board decline is being driven by ... major banks exiting wealth, removal or reduction of commissions, higher educational standards and the challenges for many to restructure their advice businesses to remain prof...
Clients left in limbo as financial advisers head for the exits (2)
18 February 2020 by John Collett, Brisbane Times
Advisers have been leaving the major institutions in droves. While many have left the industry, others have switched to smaller firms. Adviser Ratings figures show smaller advice firms now authorise 58 per cent of advisers
Sharp drop in Australian adviser numbers: report
18 February 2020 by Christopher Cooper-Ind, International Investment
The report, published by Adviser Ratings, shows 4,378 left the profession in 2019, with 1,133 leaving in in 4Q2019 alone. The total number of active advisers at the end of 2019 fell to 23,639, which represents the lowest figure since 4Q201...