The FPA has urged the repeal of the best interest duty safe harbour provisions as part of a move to principles-based regulation in the advice industry. In its submission to ASIC s consultation on af
Data reveals ‘big uptick’ in adviser exits
Data reveals ‘big uptick’ in adviser exits
Almost 80 advisers left the industry in the last working week of 2020, with AMP finally losing its crown as the biggest licensee in Australia, according to new data from Adviser Ratings.
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According to the group’s weekly adviser movements update, 78 advisers left the industry in the week to 24 December 2020, which was “a big uptick from prior weeks”, Adviser Ratings founder Angus Woods said.
Including data from Adviser Ratings’ earlier adviser movements updates for the month, it’s estimated that almost 250 practitioners left in December, with the industry exodus continuing as many made the choice to retire at the end of the calendar year.
Accounting and advice group SMSF Advisers Network is now the biggest licensee in Australia, with AMP’s advice businesses seeing further reductions in adviser numbers, according to new data from Adviser Ratings.