Orphan clients evolving into a consumer crisisBY PAUL TYNAN | THURSDAY, 16 FEB 2023 9:26PM The financial services industry dilemma of having sufficient resources and advice practitioners to service the needs of orphan customers is not a new story, it's a crisis ... Upgrade your subscription to access this article
Join the growing community of financial advisers
with unlimited access to our latest news, research and analysis of the industry.
Become a premium subscriber today. |
Latest News
Advisers should rethink portfolio construction: La Trobe
La Trobe Financial has urged advisers to broaden portfolio construction beyond traditional equity and bond allocations, arguing that slowing productivity, persistent inflation risks and changing market dynamics require greater focus on real assets and private credit.
Advice complaints see biggest increase in FY26: AFCA
Despite only accounting for less than 10% of the total complaints lodged, investment and advice complaints have seen the steepest increase in FY26, data from AFCA shows.
Acclime acquires Melbourne's Polar 993
Acclime, a provider of corporate, governance, advisory and fund services across Asia Pacific and global markets, has signed an agreement to acquire the independent trustee and fund administration business from Melbourne.
Platforms are not solution providers: AZ NGA
AZ NGA group chief executive Paul Barrett warned platforms should stay in their lane rather than overstep to improve financial adviser productivity, reiterating that it is the advice business' responsibility to do so.
Further Reading
Cover Story
Advice with soul
SACHA BURCHGART
FOUNDER AND FINANCIAL PLANNING SPECIALIST
BURCHEART
FOUNDER AND FINANCIAL PLANNING SPECIALIST
BURCHEART
Though she initially tried, Sacha Burchgart couldn't escape the call of a career in financial advice; it just took staring down her own mortality to see what's possible when you do things differently. Jamie Williamson writes.
Expert Feed
A never ending story of levies
The extensive processing period for Shield and First Guardian complaints means financial advisers will likely not be able to see an end to a series of ...
When 'diversification' stops being diversified
While many are worried about the dominance of US mega-cap companies, the same trend is also transpiring domestically, creating a concentration issue for ...
Secondaries: Handling a double-edged sword
Secondary transaction volume in private markets continue to hit new highs, as does fundraising for secondaries vehicles. Yet the market presents vulnerabilities ...
Operational alpha: How wealth tech is reshaping fund distribution in Australia
Innovative technology emerging across wealth management is transforming how funds are distributed among financial intermediaries, an expert says.
Perfectly explained.
Wow Paul, great read...thank you.
Unfortunately the industry failed themselves when the opportunity to stand up presented itself.
The abolition of commissions in the FP industry whilst maintaining them for mortgage brokers makes absolutely no sense, the only difference being that the mortgage broking industry stood up and fought for their industry.
Whilst Financial Planners and their pathetic associations (FPA particularly) just gave up.
And now as you highlight all the unintended consequences are playing out with the end consumer the ultimate loser.
Great article. So much harm done to a valuable service industry & so many people now unable to afford much needed advice. I am one of the Financial Planners who decided to leave after 20 years - a very tough decision.
great article Paul
Well explained. Such a shame common sense has never been applied to financial planning regulation!
What a pity you weren't part of the debacle called the Hayne RC...or the QAR.