Join Adviser Ratings' MD Angus Woods as he takes us through the latest adviser movements (ceased, switched in and new) up to September 17th. Check out the latest charts, insights and where advisers are leaving and heading, in this 3-minute video.
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"The numbers are still high, with 45 advisers leaving and only 2 new advisers joining, is a continuing theme. Even if the figures were reversed, it would not be sign that the tide has turned. Australians want to get advice from an experienced adviser who has lived through the ups and downs, who has been through the highs and lows, which can only come from the adviser actually doing over many years, what they espouse. Wisdom and wise decisions can not be learned from a book of theory. The thought process of increasing the numbers of new advisers to offset exiting experienced advisers, as a way forward, is the same analogy as saying experienced Engineers who keep the aircraft in the air, can be replaced with first year apprentices to cut costs and make tickets cheaper. To keep with the theme of full disclosure, all customers who board the aircraft, will be told that very exuberant first year apprentices have overhauled the engines and most importantly, we hope you enjoy every minute of your flight. The exodus of experienced advisers will accelerate next year unless there are some big changes made and bringing on the equivalent of first year apprentices, will not alleviate that."
Jeremy Wright 16:21 on 23 Sep 20
"Any patterns indicating when new entrants to the industry will exceed the outflow of advisers?"
Clint 15:27 on 23 Sep 20