NAB slashes financial adviser licence fees to zero
31 March 2020 by Aleks Vickovich, AFR
The relief measures could make MLC lose fee revenue of about $9 million, based on the estimate of average licence fees of between $45,000 and $50,000 a year charged by the large bank-owned wealth managers, according to data from research h...
Ausbiz prepping for late March launch with all-star finance team
9 March 2020 by Mediaweek
There will be additional distribution of ausbiz content via IRESS terminals, 7news.com.au, 7plus and Adviser Ratings. The market open and daily start-up show will be live streamed on Twitter.
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...