Survey results from the first 1,000 advisers who’ve joined Adviser Ratings show a national satisfaction level with their licensees/employers of 84%.
Other findings of the survey include:
- When asked if they would consider switching from their current licensees in the next six months 17%, or more than 170 advisers, said yes.
- Better technology, marketing support and communication were the top three asks advisers had of their licensees.
- IOOF-aligned licensees were the most sought after group amongst those considering a switch, closely followed by BT aligned licensees.
It’s four weeks after the launch of the consumer-led ratings and review site to help the public find advisers who fit criteria around competence, qualifications and compliance. More than 18,000 planners on the database have been invited to populate their profiles to help increase transparency and trust in the market.
Founder Angus Woods said the data which was provided by planners could help dealer groups improve their service and help lift standards.
“The key area that advisers felt licensees could improve under their support structure was overwhelmingly that of technology and innovation, with several advisers noting this could be a point of differentiation for their customers,” he said.
“Advisers also noted the need for increased marketing support and overall business development and training for their individual practices.”