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
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
