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The Financial Planning Association of Australia's (FPA) membership has fallen to 10,954 members from 11,811 last year, and the association has recorded a before-tax deficit of $1.2 million for the year ended June 30.
From the start of next month ANZ’s risk advice business will be re-launched as Zurich Assure. With the big four bank almost completely leaving advice, Zurich swooped in to take over the risk advice arm.
In May, the number of advisers on ASIC’s Financial Adviser Register sunk below 17,000 for the first time, with predictions now suggesting the industry will dip below 15,000 by the end of the year.
Australian team expansion Barrie Wilson.
The adviser shortage is tightening the industry's labour market, and presenting a challenge for those looking to hire.