Instos Abandoned in Droves as Adviser Numbers Slip Below 20k
2 July 2021 by Sarah Kendell, IFA
The latest Adviser Ratings data showed that 112 advisers left the industry in the week to 24 June, with total numbers on the adviser register now at 19,651. Comparing adviser numbers at the industry’s peak in December 2018, the biggest lo...
One In, Ten Our: Banks Lead Adviser Outflow
May 20, 2021 by Tahn Sharpe, Professional Planner
Bank licensees bore the brunt of adviser departures in the first quarter of 2021 according to research house Adviser Ratings, continuing the trend of advisers steering away from institutional groups for their licensing needs. Furthering a...
13,000 or 16,000? Industry Questions Adviser Low-point Estimate
April 29, 2021 by Tahn Sharpe, Professional Planner
While researchers and Professional Planner poll respondents predict adviser numbers will soon drop to 13,000 and below, many industry observers quietly predict the number will settle at a far more conservative 15,000 to 17,000. The numbers...
Which Licenses Are Shedding Advisers Fastest?
April 28, 2021 by Sarah Kendell, ifa
Adviser Ratings’ 2020 Advice Landscape Report surveyed advisers on their intentions to stay in the industry beyond 2021, and found that around 770 advisers from the aligned dealer groups were expected to exit, while more than 670 from larg...
Financial Advice Too Expensive For Many Consumers
April 27, 2021 by John Collett, The Sydney Morning Herald
In 2019, there were as many as 23,500 advisers, including stockbrokers who are licensed to give financial advice, figures from researcher Adviser Ratings’ 2020 industry report show.
Adviser numbers to plummet by 30%
23/04/2021 by Sarah Kendell, ifa
The Adviser Ratings’ Advice Landscape report predicted that given current exit rates from the sector, and the group’s data around how many practitioners were planning to stay in the industry, just 13,154 advisers would be left in four year...
How to get financial advice without forking out $3000
20/04/2021 by Aleks Vickovich, Australian Financial Review
While the median fees charged are now north of $3000, that is not to say that all advisers charge that much. The lowest rate card identified by Adviser Ratings in 2020 was the more affordable $750 per annum, which is less than you would p...
ASIC extends red tape rollback for financial advice
15/04/2021 by Aleks Vickovich, Australian Financial Review
The corporate regulator has granted financial advisers a six-month extension on a controversial coronavirus relief reducing paperwork for the troubled industry, as it mulls proposals to avert an affordability crisis.
Financial adviser workforce set to halve by 2023
April 12th 2021 by Aleks Vickovich
The supply of registered financial advisers is on track to be 50 per cent lower than before the Hayne royal commission in 2018, while the costs of quality advice for regular consumers have skyrocketed, new data shows. The data from resear...