Meet The Under-45s Dubbed The 'Emerging Affluent'
22 April, 2022 by Aleks Vickovich, Australian Financial Review
New data suggests 1.9 million Australians under the age of 45 have an average portfolio value of $700,000 and are collectively worth about $1.5 trillion even though the generational wealth transfer from Baby Boomers to beneficiaries is sti...
Wealth Platforms Claw $3.3b as Wexit Frees Up Market
19 April, 2022 by Aleks Vickovich, Australian Financial Review
ASX-listed fintechs Hub24 and Praemium experienced net investor inflows of $2.6 billion and $725 million to their wealth management platform products respectively in the three months to March 31, as the big banks’ exit from the sector cont...
'Think Like ASIC' to Pass Adviser Exam
19 April, 2022 by Chris Dastoor, Professional Planner
Data from Adviser Ratings found the extension wasn’t a popular move with 60 per cent of advisers believing those unable to pass before the 31 December, 2021 deadline should not be able to provide advice in 2022.
100,000 Quit Financial Advice As Fees Jump Another 8pc
18 April, 2022 by Aleks Vickovich, Australian Financial Review
The median cost of financial advice services rose by $270 last year to $3529, pushing the number of professionally advised Australians below 2 million and many consumers into the hands of unlicensed social media influencers, according to a...
Exam Extension Wasn't A Popular Move: ARdata
22 February, 2022 by Chris Dastoor, Professional Planner
Over 60 per cent of advisers think candidates who have failed the FASEA exam twice should not be allowed to provide advice in 2022, according to research from ARdata. The firm’s ‘Musical Chairs’ report for Q4 noted that legislators recogni...
Demand Fuels Super Fund Launch Of Robo-Advice
14 December, 2021 by Clancy Yeates, WA Today
Many people would benefit from receiving financial advice, and the need is likely to increase as the population ages and more people approach retirement with a hefty superannuation balance.
Rural Wealth Advisers Cheer Labor's Education Promise
9 December, 2021 by Aleks Vickovich, Australian Financial Review
A new Labor policy to let experienced financial planners and stockbrokers practice without a university degree would provide a lifeline to some veteran advisers in the regions, but has been slammed by the industry’s advocates of higher pro...
ASIC, Consumer Groups Back Efforts To Simplify Financial Advice
3 December, 2021 by Aleks Vickovich, Australian Financial Review
The corporate regulator and consumer advocates support making financial advice less complex to provide and receive, adding their voices to the growing alarm that professional guidance is unaffordable for most Australians as millions of Bab...
Robo Guidance Gathers Pace As Advice Fees Soar
30 November, 2021 by John Collett, Sydney Morning Herald
Financial advice fees are soaring as planners abandon the profession because of higher educational standards and increased costs of regulatory compliance, leaving those who remain in the industry able to charge more. Adviser Ratings’ esti...