Declining profitability and the woes of risk advice
5 December 2023 by Zilla Efrat, Professional Planner
Holistic advisers are shying away from writing more risk, meaning that a mere 493 advisers wrote half of all life policies this year. But what’s behind this trend that could potentially lead to huge underinsurance among Australians? The 4...
Financial advice gap to remain despite government’s efforts to plug it
29 November 2023 by John Collett, The Sydney Morning Herald
The number of financial planners in Australia appears to have stabilised at almost 16,000, following a decline of about 12,000 since 2019’s peak, but changes underway by the federal government may only be partially successful in plugging t...
The two smaller platforms vying for advisers’ assets
27 November 2023 by Laura Dew, Money Management
Adviser Ratings has identified two smaller platforms, which are making inroads in challenging established players in the market, as switching movements heat up. “We are seeing intended flows still heading to HUB24 and Netwealth, with BT P...
WT Financial Group picks up Millennium3 for $2m
21 November 2023 by Simon Hoyle, Professional Planner
Listed licensee group WT Financial Group has acquired the Millennium3 Australian financial service licensee from Insignia for $2 million. WTFG chief executive Keith Cullen tells Professional Planner the deal was opportunistic after Insi...
Bridging the adviser shortage one entrant at a time
20 November 2023 by Jasmine Siljic, Money Management
Two industry professionals have shared the vital role of graduate programs in attracting new entrants into the financial advice profession. Earlier this month, Adviser Ratings’ research revealed signs that the advice industry is stabilisi...
COG pulls Diverger offer after lack of shareholder support
15 November 2023 by Simon Hoyle, Professional Planner
Conceding there is a lack of interest from key Diverger shareholders, COG has formally withdrawn its counteroffer for the listed licensee. After the Count takeover was announced in September, Diverger was punted squarely into play by the ...
Striver to expand recruitment drive after success with Brimstone
14 November 2023 by Chris Dastoor, Professional Planner
Following its inaugural Brimstone event in Sydney in September, Striver will expand interstate in 2024 with new dates after feedback from students at the event suggested 85 per cent would consider advice as a career path. Striver communit...
Q3 sees second-lowest adviser exits since 2018
9 November 2023 by Laura Dew, Money Management
There are signs the financial advice industry is stabilising as Q3 2023 demonstrated the second-lowest number of exits and the highest number of new entrants in five years. In the Adviser Ratings’ Musical Chairs report for the third quar...
Smart ways to grow your super
3 November 2023 by Money Magazine
Here's an amazing fact: 800 Australians will retire every day over the next decade. Many of them can expect to enjoy long and fulfilling lives, potentially well into their 90s - a welcome reward for the decades they spent in the workforce....