ASIC slugs super funds, advisers, brokers with surprise levy blowout
15 January 2020 by Aleks Vickovich, AFR
In 2019, the median cost of financial advice increased by 12 per cent to $2800 per client per annum according to research house Adviser Ratings.
Super funds hold antidote to rising financial anxiety
14 January 2020 by Aleks Vickovich, AFR
Data released by research house Adviser Ratings in December found that more than 4000 professional financial advisers exited the industry in 2019 due to rising regulatory costs and minimum education standards, representing a 15 per cent re...
Adviser exodus stalls… for now
9 January 2020 by Tahn Sharpe, Professional Planner
“There was a marked slowdown in Q3 following the government’s announced extensions for advisers to meet the [Financial Adviser Standards and Ethics Authority] deadlines,” Adviser Ratings CEO, Mark Hoven, says. In a related study, the Q3 Ad...
Former AMP, NAB financial adviser banned
8 January 2020 by Aleks Vickovich, AFR
According to data released by research house Adviser Ratings in December, there is now a "new big six" in financial advice made up of AMP and NAB, as well as ASX-listed wealth giant IOOF and privately-owned groups SMSF Advisers Network, Ea...
Major banks slammed for abandoning wealth
2 January 2020 by Aleks Vickovich, AFR
Data released by research house Adviser Ratings in December showed that financial advisers raised their fees by an average of 12 per cent to $2800 per client in 2019 in response to dwindling margin pressure as commissions are switched off ...
Over 3,000 Advisers have left institutions, New Data Reveals
6 January 2020 by Adrian Flores, IFA
Further, 1,900 of those advisers primarily moved onto privately-owned licensees, according to the most recent Australian Financial Advice Landscape report from Adviser Ratings. “The advice industry is changing shape in the blinking of an e...
AMP and IOOF: Last men standing or dead men walking?
27 December 2019 by Aleks Vickovich, AFR
According to Adviser Ratings data, the control of the financial adviser market (ownership, employment, licensing) by the Big 4 Banks, Macquarie, IOOF & AMP has dropped to 40% from its peak in 2010 when it was over 80%.
Robo advisers over-confident of post-Hayne success
17 December 2017 by Aleks Vickovich
Research house Adviser Ratings took the pulse of 50 so-called robo advisers – fintech companies involved in automating elements of personal finance and investment management – and found 79 per cent were confident about the future of their ...
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...