Advisers ‘overwhelmingly positive’ about future
Majority of advisers polled at the Association of Financial Advisers (AFA) National Practitioner Roadshow voted themselves "overwhelmingly happy", while citing their interest in embracing peer-learning to help other advisers succeed.
A total of 93 per cent of the 1,600 advisers said they felt optimistic about their future in the industry, with Roadshow specialist speaker, Paul Kearney, encouraging attendees to adapt to marketplace shifts.
The major shifts in the advice landscape afoot, attending advisers were also quizzed on the future of the industry as a whole, with 59 per cent voting that political and legislative shifts had the greatest direct impact on the delivery of their work, ahead of technological shifts (22 per cent) and societal shifts (six per cent).
A further 84.7 per cent agreed that they would have to let go of certain beliefs, habits, and bias to move forward in the industry, with 31.6 per cent of advisers stating that additional money in their business would be spent on customer-centric technology enhancements.
"What was evident in our live poll, is that advisers need to invest in themselves to adapt," AFA general manager of member services, Nick Hakes, said.
"Advisers need to... collobrate with their peers and to cultivate a culture where they can gain fresh perspectives."
AUTHOR
Hope William-Smith
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
