Advice

During a recent presentation of Invesco Global Consulting’s program, Priceless, I asked a room full of advisers how many of them had changed the way they do their annual client review meetings in the last 5 years (COVID19 changes aside). 

Following on from last week’s article titled, ‘Ombudsman seeks to simplify complaint treatment,’ The Australian Financial Complaints Authority (AFCA) today confirmed it will put into place a ‘user-pays’ funding model that is fair, transparent and equitable.

The exodus of financial advisers from the industry is set to continue into 2022, according to research undertaken by Adviser Ratings, who in partnership with Vanguard Investments, released their Adviser Landscape report last week.

John Abernethy’s listed funds management firm, Clime Investment Management (CIW) purchased its second wealth management firm, Melbourne’s MTIS Wealth Management for $7 million last week.

Given the flood of changes and regulatory oversight that has resulted from the Royal Commission, it likely comes as a surprise to many that the impending Quality of Advice Review, was actually a recommendation of Commissioner Hayne.

After a tumultuous few years that have seen reporting, compliance and information gathering requirements reach extreme levels, ASIC appeared to offer some respite this week.

The last few years have seen both massive opportunities and challenges for ethical and ESG-focused investors.

Alternative investments are gaining popularity, mainly due to their low correlation to more traditional assets such as stocks and bonds.

Do you know the name of your number 1 client?  I am sure you do.  What about the name of your number 20 client? Or your number 43 client?  

“We are at a critical crossroad, with an aging population, and the “Great Australian Wealth Transfer” at our doorstep” explained Lifespan Financial Planning CEO Eugene Ardino in an open letter to Scott Morrison and Anthony Albanese on the eve of the Federal Election.

According to a new report from EY, How will you reframe the future of advice if today’s client is changing?, the global market for wealth advice is poised for transformation, with a blend of people and technology delivering financial advice, but technology must be targeted and explained to clients in order to be successfully introduced….

Key findings from the Australian Financial Advice Landscape Report 2022 have painted a grim picture for the financial advice industry, predicting higher client fees and dwindling adviser numbers. Without a doubt, the last few years have been tough on financial advisers. Increasing compliance burdens have gone through the roof, going back to university to sit…