2020 concerns for increasing regulation

super-recruiters/regulation/

9 December 2019
| By Jassmyn |
image
image
expand image

Regulation, increasing competition, and market downturn are the issues wealth managers are expecting for 2020, according to a Super Recruiters survey.

The survey found that 37% of wealth managers were concerned about increasing regulation, 23% for increased competition, and 21% for a market downturn. For employees, 53% expected to feel more stressed next year.

Source: Super Recruiters

However, managers still expected to see improved, or at least stable, business conditions, which would lead to more opportunities for innovation and growth, both in terms of assets and business, according to Super Recruiter’s partner Matthew Coleman.

The survey also found that 63% of respondents expected 2020 to be a better year for the industry and their organisation, which was an increase from the year before. Another 26% expected it to be similar to 2019, and 5% expected it to be worse than last year.

“More respondents to this year’s annual outlook survey are more optimistic about the future than at any other time in the past five years,” Coleman said.

“This optimism is also despite the freeze in the increase of the superannuation guarantee levy. Most respondents support the lifting of the levy, though many believe it should be delayed further.”

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?...

2 months ago

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

2 months 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....

4 weeks 1 day 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...

3 weeks ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 6 days ago

TOP PERFORMING FUNDS