IFAs benefiting from RC fallout
The Royal Commission has seen a distinct shift from bank-aligned financial planners towards independents, according to Adviser Ratings managing director, Angus Woods.
Speaking on a panel at the Association of Superannuation Funds of Australia (ASFA) conference in Adelaide, Woods said that his company had noted an upturn in inquiries about financial planners, with activity doubling since the beginning of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
“There has been an increase in the independent space away from the banking aligned type of adviser,” he said.
Woods’ comments came as Link Advice managing director, Duncan McPherson said his company had noted the continuing strength of superannuation brands amid the fallout from the Royal Commission and the level of interest in advice from members.
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