Risk-focused financial advisers 'moderately optimistic'
Risk-focused financial advisers remain optimistic about the outlook for themselves and their practices despite the changes facing the industry, according to a Zurich Financial Services Australia survey.
Overall risk adviser sentiment was calculated at 4.5 out of 7, or 'moderately positive', according to the survey of 300 risk advisers conducted by Beaton Research and Consulting.
Respondents were asked to rate their sentiment out of seven across five key areas: consumer demand for advised life insurance; the financial adviser's current sales volume; the regulatory environment; likely sales volume for next quarter; and the long-term viability of their practice.
Colin Morgan, chief executive of Zurich's Australian Life and Investments business, said the results show that: "despite facing stagnant financial markets, low consumer sentiment and remaining uncertainty around [Future of Financial Advice reforms], risk advisers are looking forward with optimism to the opportunities that 2012 may bring.
"It's reassuring to know that with our underinsurance problem still so large, risk advisers remain enthusiastic and motivated to keep providing quality financial advice and insurance protection to Australian families" he said.
Dr Jelena Dodic, account director at Beaton Research and Consulting, said despite the overall negative sentiment in terms of the current regulatory environment, advisers are looking beyond the short-term and remain positive about the long-term viability of their practice.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
