Latest research shows about two million Australians sought financial advice in the 12 months to May, accounting for more than 27% of the total wealth management market.
Financial advisers are losing clients and the ongoing financial services Royal Commission isn't helping. The good news is professional standards reform is helping restore the reputation of the industry, Investment Trends research reveals.
Ten years on, Australian seniors are living in fear of a repeat of the Global Financial Crisis with 25% unable to tolerate any annual loss on retirement savings.
About 20% of FINSIA's adviser members will leave the advice industry if they are forced to undertake additional postgraduate study.