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Wall Street licence exemption a double-edged sword Removing barriers to entry for global wealth managers could put downward pressure on investor fees, but undo hard-earned lifts in the quality of financial advice. Share A few years before the Hayne royal commission, a hot-shot wealth manager in a high-rise Manhattan boardroom was asked what it would take for him to bring his firm Down Under. “Those big banks of yours would need to make some space,” the Ivy-leaguer replied, demonstrating a surprisingly astute knowledge of the Australian market. “And some of your rules and regulations wou...

Among the standout findings from Coredata's 2021 Licensee Research is that advisers at 'top tier' licensees are around 40 per cent less satisfied with their licensee leaders than those at 'medium' and 'large' licensees.

It turns out that stockbrokers might not be as bad at ethics and incompetent at basic financial advice as they would have us believe. Claimed exam failure rates of as high as 100 per cent have been challenged, with suggestions the actual stockbroker failure rate is closer to around 15 per cent across all exam sittings to date. That puts them on a par with the financial advice industry more generally. Stockbrokers who are named on the ASIC financial adviser register are required, like all financial advisers on the register, to meet education, professional and ethical standards that come progre...

In a series of columns for Professional Planner, the AZ NGA CEO highlights the importance of practice wage bills as an indicator of value, the beauty of curves and what the data really means. “Wages are a proxy for size and at the smaller end of the scale, businesses struggle to leverage their fixed cost base effectively,” he says. Simon Hoyle, CoreData head of market insights Not only does financial advice have clear, measurable value for consumers both young and old, rich or poor, but a new study from IOOF and CoreData Research shows the Advice Dividend is often greater for the younger...