One-third of advisers considering licensee change
Almost one third of financial advisers are considering switching licensees within the next five years, with a quarter of those looking to establish their own Australian Financial Services Licence (AFSL), according to new research.
The CoreData annual licensee survey of more than 1000 advisers found that in the short term, only 14.7 per cent of advisers are considering moving dealer group in the next 12 months.
However, licensees should be concerned that a total of 31.7 per cent of advisers are looking to make a switch in the next five years.
While dealer groups may view this as a recruitment opportunity, the survey goes on to show that of those looking to shift, more than a quarter said they would shift to their own AFSL.
According to the survey, this trend could be the result of advisers ‘rebelling’ against the growing market presence of and consolidation of institutionally owned dealer groups.
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