ASIC To Focus on 50 Licensees?

The regulatory and compliance burden facing growing licensees is perhaps, the X-factor that should not be frivolously dismissed by anyone concerned with the future of the advice industry. With the big guys exiting advice, there will be a renewed focus by ASIC on smaller licensees. Adviser Ratings analysis shows that while there are over 2,200 licensees operating in Australia, around half of all advisers are authorised by just 48 mid to large sized licensees.