How would you cut advice costs?
Financial advisers have delivered a sceptical response to suggestions from the Government and the Australian Securities and Investments Commission (ASIC) that the cost of financial advice can be driven down via the increased use of technology and making access to scaled advice easier.
The suggestions, flowing from this week’s Financial Services Council (FSC) financial advice summit, were followed by strong calls from the Financial Planning Association for a pragmatic approach to reducing costs, including rolling the functions of the Financial Adviser Standards and Ethics Authority (FASEA) into the proposed new Financial Advice Single Disciplinary body.
A number of questions have been raised in the aftermath of the FSC summit prompting Money Management to survey its readers about their views on scaled advice and lower costs in the industry.
Recommended for you
With HNW investors representing the largest market for alternative assets, Praemium and CoreData research underscores why this presents a compelling opportunity for advisers.
Having completed the successful integration of Diverger, Count has upgraded its forecast for expected synergy benefits achieved by the acquisition by a third.
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.