Entering the industry while others exit

Royal-Commission/

10 June 2022
| By Liam Cormican |
image
image
expand image

There is much focus on the adviser exodus from the industry following the Royal Commission but there is room for optimism with new practices being set up.

While it’s accurate that the industry is not in a enviable position at the moment, with profitability in practices falling from 28.2%  to 24% over the last two years and the industry expected to fall to 14,000 advisers over the next couple of years, negative commentary is only one side of the coin.

For those who have passed their exams, the smaller volume of advisers in the market is presenting them with opportunities and some firms say they have never been busier.

As some of our readers tell us, there is still a lot to look forward to in this vital profession.

That’s why, starting next week, Money Management will bring you some much-needed positivity with regular profiles interviewing those entering the industry while others exit.

You will hear from those starting new practices who have optimistic views of the long-term health of the profession, those with fresh approaches to addressing the advice gap and those targeting a younger demographic, among others.

Watch this space!

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

1 month 4 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

3 weeks 3 days ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 2 days ago

The Federal Court has made interim orders to freeze the assets of a managed investment scheme, its responsible entity, and a director....

1 month ago

TOP PERFORMING FUNDS