Netwealth, Hub24 face 'wave of disruption': UBS
4 December 2019 by AFR, Aleks Vickovich
Hub24 managing director Andrew Alcock said he welcomed more competition on financial services. "We believe our offer is truly market-leading in all respects," he added. The financial adviser market continued to fragment and contract over t...
Financial Advisers Leaving In Droves
13 November 2019 by FNArena
The recent trend of financial advisers leaving the industry continued in the September quarter, as noted in Adviser Ratings’ (ARdata) quarterly “Musical Chairs” report. The fallout from the banking Royal Commission impacted on financial ad...
ADVISER NUMBERS CONTINUE TO DECLINE: ADVISER RATINGS
5 November 2019 by Lachlan Maddock, IFA
The Adviser Musical Chairs Report noted an overall decline of almost 700 advisers around the country in Q3 2019, a contraction of almost 3 per cent. This continues the trend of advisers leaving the industry, albeit at a reduced rate from t...
Australia Loses 700 Advisers in Just One Quarter
5 November 2019 by Pedro Goncalves, International Investment
Australia has experienced an overall decline of almost 700 advisers around the country in Q3 2019, a contraction of almost 3%, according to a report. Having analysed data from the Australian Securities and Investments Commission and indust...
More Advisers on the Move
5 November 2019 by riskinfo
Adviser Ratings has reported a 70 percent increase in the number of advisers moving between licensees in the last quarter, as overall adviser numbers fell by another three percent. These are some of the key findings in the research firm’s...
Financial Adviser Movements Spike 70pc
4 November 2019 by Aleks Vickovich, AFR
The financial planning industry continued to fragment and contract over the September quarter as it pre-empts the partial exit of the big four banks from the wealth management sector. Having analysed data from the Australian Securities and...
Trusting Advisers More Than Instos is ‘Human Nature’: APN Group
30 October 2019 by Tahn Sharpe, Professional Planner
Last week Professional Planner reported that wealth outflows at AMP and IOOF – the last of the original ‘big 6’ that are still at least somewhat committed to advice – continued in the July quarter. AMP’s wealth business suffered outflows o...
IOOF Misses Bank Exodus Opportunity
24 October 2019 by Aleks Vickovich, Australian Financial Review
"However, we expected this would largely be offset by the opportunity for IOOF to potentially capture displaced bank-aligned advisers seeking new advice dealer groups." According to data from research house Adviser Ratings, IOOF has 1669 f...
ASIC’s Shipton Flags 2020 Advice Gap Project
17 October 2019 by Tahn Sharpe, Professional Planner
According to Adviser Ratings 2850 of the country’s 25,000 or so advisers left the industry in 2019 to August, with even the most conservative pundits predicting 20 per cent of advisers (ie 5,000) will move on before 2024. While this date w...