CFA Institute member poll finds credit crisis impact pervasive
A poll of 1,700 members of the CFA Institute, the global association for investment professionals, has found that only 3 per cent of them have not been affected by the credit crisis.
The poll, which measured the impact the current credit crisis had on respondents’ individual careers and/or their firms, found 71 per cent of respondents said their bonus “had been or might be reduced or eliminated”.
A total of 39 per cent of members said their firm had or might lay off staff, while 57 per cent said their workload had or was likely to increase.
Of the 220 Asia-Pacific members polled, 73 per cent said their bonus had been or might be reduced or eliminated, 32 per cent said their firm had or might lay off staff, and 48 per cent said their workload had or was likely to increase.
“Undoubtedly this is a tough period” for industry, according to Olivia Engel, CFA Sydney president. “Career opportunities cannot be compared with those in the past.”
“This means that investment professionals will need to stay competitive and adapt to changes, including keeping abreast of current issues and maintaining a high skill set.”
Recommended for you
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
