Don’t buy into the compliance failure myth
Advisers often buy into the misconception that a single compliance failure could be the end of their business and career. The reality is most regulatory action is reasonable and advisers have gotten considerably better at compliance.
July 14, 2022
Dunbar’s Number and Kitces’ Conjecture underline advice challenges
With declining adviser numbers, licensees are running out of ways to leverage scale and grow their business to a sustainable level. It's a tricky juxtaposition, says CoreData's Simon Hoyle, and one that will lead to the closure of more than a few dealer groups over the next two years.
July 13, 2022
Stakeholder-backed study proposes 3-pronged advice access solution
The study – funded by the FPA, Centrepoint, Magellan and FPEC – concludes that the high cost of financial advice is preventing lower socio-economic groups from improving their financial security. To combat this, the study suggests, three things must happen.
July 13, 2022
AFA flays wayward consumer group’s advice review submission
Choice's submission to the Quality of Advice review drew the ire of the Association of Financial Advisers, which pulled apart its "unfounded claims and inaccuracy" in a response this week.
July 12, 2022
‘Aggressive’ PY candidate recruitment key to adviser stocks
As the adviser pool shrinks inexorably, progressive advice groups are going on the front foot to recruit the next generation, getting a foothold in universities and funneling work experience trials into PY candidates that relish having a path to the profession.
July 12, 2022
Last chance to register for adviser exam before extension deadline
The corporate regulator is reminding advisers who are yet to pass the adviser exam that Tuesday night is the deadline to register for the last sitting before the 1 October deadline.
July 11, 2022
A sensible decision to review the YFYS performance test
The financial services minister has made a sensible decision to request a review of the Your Future, Your Super performance test. Now industry has its chance to provide constructive input into a solution which can improve consumer protections and enhance member outcomes.
July 08, 2022
Magellan earns $11m in performance fees amidst rough year
The once dominant fund manager has seen funds under management reduced from over $116 billion towards the end of last year to $61 billion at the end of the financial year. The $11 million it earned in performance fees for the financial year is a fraction of recent years.
July 08, 2022
Over 2.5k advisers depart during the last 12 months
The FY22 fallout for adviser departures has been 2,671 according to research from Wealth Data, with the FASEA exam deadline being the largest contributing factor.
July 07, 2022
