RC doesn’t shake industry’s hiring intentions
The Royal Commission doesn’t seem to have dampened the industry’s hiring intentions, with the finance, insurance and real estate sector showing its highest employment intent since 3Q12.
ManpowerGroup’s Net Employment Outlook found that hiring intentions for the sector stood at +21 per cent for the fourth quarter of 2018, well ahead of the national average of +13 per cent.
“While many have expected the finance industry to have a more subdued outlook as it continues to process the findings of the Royal Commission, the data suggests the industry is preparing for significant changes that require an increase in headcount in order to manage new compliance obligations while maintaining a competitive position in a rapidly changing sector,” Manpower said.
Recommended for you
As the first quarter of 2024 comes to a close, Money Management looks back on the corporate regulator’s bans and AFSL cancellations in the financial advice sector.
Insignia Financial is holding ‘relatively steady’ onto its rank as Australia’s second-largest financial advice licensee after the Godfrey Pembroke exit but Count is hot on its heels.
Liberal senator Slade Brockman has said the government needs to have a “cold hard look” at the level of regulation in the financial advice space and the costs of running a business.
FAAA chief executive, Sarah Abood, has warned changes in the first tranche of the QAR legislation around advice fees documentation could create more work for advisers rather than less.