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Covid Pressure Sees Boutique AFSLS Abandon Ship

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20 August 2020 by Sarah Kendell, IFA

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Adviser Ratings’ Musical Chairs Report for Q2 2020 found that 83 financial services licences had been discontinued in the three months to June, a significant rise on the 61 licences that had ceased in the first quarter of the year.

The report noted that “as more businesses struggle with the current economic conditions”, the ratio of licences ceasing versus forming had accelerated over the past 12 months, and was now almost 3:1 versus 1.5:1 in the second quarter of 2019.


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