CFA Institute member poll finds credit crisis impact pervasive
A poll of 1,700 members of the CFA Institute, the global association for investment professionals, has found that only 3 per cent of them have not been affected by the credit crisis.
The poll, which measured the impact the current credit crisis had on respondents’ individual careers and/or their firms, found 71 per cent of respondents said their bonus “had been or might be reduced or eliminated”.
A total of 39 per cent of members said their firm had or might lay off staff, while 57 per cent said their workload had or was likely to increase.
Of the 220 Asia-Pacific members polled, 73 per cent said their bonus had been or might be reduced or eliminated, 32 per cent said their firm had or might lay off staff, and 48 per cent said their workload had or was likely to increase.
“Undoubtedly this is a tough period” for industry, according to Olivia Engel, CFA Sydney president. “Career opportunities cannot be compared with those in the past.”
“This means that investment professionals will need to stay competitive and adapt to changes, including keeping abreast of current issues and maintaining a high skill set.”
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
