Data from Adviser Ratings found the extension wasn’t a popular move with 60 per cent of advisers believing those unable to pass before the 31 December, 2021 deadline should not be able to provide advice in 2022.
The median cost of financial advice services rose by $270 last year to $3529, pushing the number of professionally advised Australians below 2 million and many consumers into the hands of unlicensed social media influencers, according to a...
Over 60 per cent of advisers think candidates who have failed the FASEA exam twice should not be allowed to provide advice in 2022, according to research from ARdata. The firm’s ‘Musical Chairs’ report for Q4 noted that legislators recogni...
Many people would benefit from receiving financial advice, and the need is likely to increase as the population ages and more people approach retirement with a hefty superannuation balance.
A new Labor policy to let experienced financial planners and stockbrokers practice without a university degree would provide a lifeline to some veteran advisers in the regions, but has been slammed by the industry’s advocates of higher pro...
The corporate regulator and consumer advocates support making financial advice less complex to provide and receive, adding their voices to the growing alarm that professional guidance is unaffordable for most Australians as millions of Bab...
Financial advice fees are soaring as planners abandon the profession because of higher educational standards and increased costs of regulatory compliance, leaving those who remain in the industry able to charge more. Adviser Ratings’ esti...
The numbers of financial advisers working across the advice sector continued to decline during the third quarter of this year, dipping just below 19,000, and is likely to reach 16,500 by year end, according to research firm Adviser Ratings.
Much has been written about the decreasing adviser numbers due to this perfect storm. According to Adviser Ratings, adviser numbers have fallen below 19,000 in 2021 from a peak of over 28,000 in 2018. Our great resignation, it seems, has b...