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50% of Financial Advisers might leave the Industry

Friday 25 May 2018

Money Management

The Financial Adviser standards may push as many as 14,000 financial advisers out of the industry.
Money Management reports:
The Adviser Ratings analysis claimed that on top of the Royal Commission and the FASEA regime, fragmentation of the institutional distribution model was also accelerating, with advisers churning from the major banks in 2018 at 270 per cent of the historical rate, while establishment of self-licensed practices had driven a 33 per cent increase in licensees over the last three years.
According to the report, 7000 financial advisers have left the industry since 2015.