Among the standout findings from Coredata's 2021 Licensee Research is that advisers at 'top tier' licensees are around 40 per cent less satisfied with their licensee leaders than those at 'medium' and 'large' licensees.
The individual experience of advisers going through the exam process varies wildly, reports CoreData's Simon Hoyle. That doesn’t make the experience wrong, or designed to suit some predetermined narrative about the impost of the industry exam. It’s just how it is.
Overall satisfaction with licensee support rebounded in 2020, after taking a big dip in 2019. It hasn’t returned to levels we saw in 2018, but it’s on its way – and the 2021 Licensee Research will show us where the number settles this year, Simon Hoyle writes.
It's still too easy for those who don't know the term 'financial adviser' is enshrined in law to bandy it around incorrectly, Simon Hoyle says. There’s no record of a financial adviser, current or ceased, called Melissa Caddick on ASIC's register, nor does she appear on the register of disqualified persons.
Not only does financial advice have clear, measurable value for consumers both young and old, rich or poor, but a new study from IOOF and CoreData Research shows the Advice Dividend is often greater for the younger cohort – bucking the traditional line of thought.
Advisers are generally more satisfied with how their licensees are supporting them this year according to CoreData, but there remain two key service offerings that – if another licensee could provide them better – are significantly more likely to prompt an adviser to change dealer groups.