Advice fee rises on the horizon
8 December 2022 by Laura Dew, Money Management
Over 90% of advisers say they plan to increase their fees next year, according to Adviser Ratings.
The state of the adviser landscape
1 December 2022 by Rhea Nath, Money Management
Money Management has examined the current state of the adviser landscape ahead of the changes from adviser numbers to fees to licensees. 2021 saw the number of advised Australians drop below two million, as per the Adviser Ratings (AR) 2...
Busiest quarter for licensee switching seen in Q3
21 November 2022 by Laura Dew, Money Management
Some 650 advisers switched licensee in Q3, the busiest quarter for over a year. According to Adviser Ratings’ latest Musical Chairs report, the firm said the number of switches rose from 562 in Q2 to 650 in Q3.
Millions of Aussies don’t get financial advice
18 November 2022 by Tamika Seeto, Yahoo Finance
Millions of Australians don’t use a financial adviser, new research has found, and many are taking their finances into their own hands. The median ongoing fee for a financial adviser is about $3,529, according to Adviser Ratings. That’s a...
Which licensee segments have seen the biggest declines?
14 November 2022 by Laura Dew, Money Management
With adviser numbers having fallen below 16,000 for the first time this year, there has been a similar decline in the number of licensees. According to Adviser Ratings, there had been a move for advisers to opt for solo or boutique licens...
FPA and AFA confirm merger vote date
8 November 2022 by Laura Dew, Money Management
The Financial Planning Association of Australia (FPA) and Association of Financial Advisers (AFA) have confirmed the timing for a vote on a potential merger between the two parties. For the merger to succeed, 75% of members needed to appr...
VetPay named and shamed in Choice Shonky Awards
4 November 2022 by Nicola Field, Money Magazine
According to Adviser Ratings, in 2021 the median annual fee for advice jumped by 16% to $3,256. The rising cost reflects declining numbers of financial advisers, partly due to new educational requirements introduced following the banking ...
Industry backs AFA/FPA merger
2 November 2022 by Laura Dew, Money Management
Adviser Ratings has found more than 80% of advisers back the merger of the Financial Planning Association of Australia (FPA) and the Association of Financial Advisers (AFA) as most prefer to hold only one association membership. The FPA an...
CFS and XY team up to build PY community in new platform
20 October 2022 by Chris Dastoor, Professional Planner
CFS has joined up with XY Adviser to launch the Professional Year online community hub as part of its new people and culture platform Elevate. The firm said a major catalyst for developing the platform is the shrinking adviser base which i...