advice business models

It’s been a tale of two models in advice, with the accountants that provide holistic advice services going one direction and those that provide SMSF advice another. Meanwhile, the pure financial planning business model has remained steady.

It’s a dire situation for consumers but a massive tailwind for financial advisers. More people and more capital in the superannuation coffers than ever, with a stubbornly small number of advisers to service them. 

There are untold benefits in shifting to a self-licensed advice model, but the move also comes with a host of dangers. Practice owners need to ask themselves some serious questions before taking the plunge.

“Fragmented” service models for advice groups will soon coalesce into three distinct business models according to KPMG’s Future of wealth management report.