The (new) Future of Financial Advice
16 August 2019 by Annelise Nielsen
While we wait to see if our political leaders have the wherewithal to force real change in the sector, we can be sure we are going to see much more sceptical consumers. Websites like Adviser Ratings, which posts reviews of financial advise...
'Get over it, go broke, move on': Financial planners rocked by banks' exit
10 August 2019 by Stephen Miles and John Collett, SMH
"The number of financial advisers is shrinking, with limited new entrants and a constant trend of leaving advisers,” said Mark Hoven, chief executive wealth of Adviser Ratings, a service that rates financial advisers. "There are about 25,0...
Advisers Consider the Next Chapter
2 August 2019 by Professional Planner
A 20 per cent to 30 per cent exodus of the 25,000 or so authorised representatives currently on ASIC’s register is the more common prediction that’s being bandied around, but even this more conservative estimation represents in excess of 7...
Adviser Numbers Drop for Second Quarter in a Row
29 July 2019 by Eliot Hastie, SMSFAdviser
While there was a spike in adviser numbers in December last year, thousands of advisers have departed the industry in the first six months of this year, according to a new report. The Adviser Ratings Musical Chairs report found that 1,750 ...
Financial Advisers Call Time on their Careers as Tougher Rules Bite
27 July 2019 by John Collett, WA Today
Financial planners are leaving the industry in unprecedented numbers as tougher rules for those giving advice come into effect. “The number of financial advisers is shrinking, with limited new entrants and a constant trend of leaving advis...
Thousands Leave Financial Advice Industry
26 July 2019 by Eliot Hastie, IFA
The Adviser Ratings Musical Chairs report found that 1,750 advisers left the industry in the June quarter, leaving just 25,470 advisers across Australia. This equates to a 6.4 per cent decline in total adviser numbers for the quarter and i...
Australia Loses 2,825 Advisers in Only Six Months
26 July 2019 by Pedro Gonçalves, International Investment
Australia has seen 2,825 advisers cease operation in the first six months of the year, with only 19 new entrants a report shows. The Adviser Ratings Musical Chairs report found that 1,750 advisers left the industry in the June quarter, ecl...
Adviser Numbers Head South
26 July 2019 by Risk Info
A comprehensive analysis compiled by Adviser Ratings has confirmed the number of authorised representatives in Australia is shrinking. The financial advice data and rating agency has utilised data from ASIC’s Financial Advisers Register to...
Financial Advisers Quit Industry After Hayne Shake-up
25 July 2019 by Tim Boyd, Australian Financial Review
The number of licensed financial advisers dropped by 1750 people to a total of 25,470 in the June quarter, according to a quarterly report from Adviser Ratings. Adviser Ratings chief executive Mark Hoven said the 6.4 per cent fall was due...