{"id":1301,"date":"2009-05-27T02:54:34","date_gmt":"2009-05-26T16:54:34","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=1301"},"modified":"2009-05-27T03:13:37","modified_gmt":"2009-05-26T17:13:37","slug":"latest-poll-will-boutique-advice-practices-survive-the-gfc","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2009\/05\/27\/latest-poll-will-boutique-advice-practices-survive-the-gfc\/","title":{"rendered":"Latest Poll &#8211; Will Boutique Advice Practices Survive the GFC?"},"content":{"rendered":"<p><a href=\"https:\/\/riskinfo.com.au\/polls\/impact-of-the-gfc-on-boutique-advice-practices\/\" target=\"_self\">Vote Now!<\/a><\/p>\n<p>As we place our cue in the rack (for the time being) on the issue of adviser remuneration, we now turn our attention to the impact of the Global Financial Crisis (GFC) on boutique advice practices.<\/p>\n<p><!--more-->Some industry commentators are suggesting that one of the outcomes of the GFC will be a consolidation of the number of financial advice businesses in Australia.\u00a0 The reasoning behind this point of view is that in times of economic uncertainty, consumers (and advisers) will seek safety and security in larger, more &#8216;visible&#8217; financial planning groups.<\/p>\n<p>In a recent article from <a href=\"http:\/\/news.efinancialcareers.com.au\/newsandviews_item\/newsItemId-18824\" target=\"_blank\">eFinancialCareers<\/a>&#8216; <strong>Simon Mortlock<\/strong>, the argument suggests that while the stock market was operating at record levels, financial planning revenues were also high, and few practice principals were considering the sale of their business.<\/p>\n<p>But with revenues sliding, in a lot of\u00a0cases substantially, anecdotal reports suggest that many smaller, boutique advice firms are either looking to merge with other practices or transfer\/sell their business into one of the larger financial planning groups that best reflect the culture of their business.<\/p>\n<p>But does having fewer boutique advice firms mean less choice and flexibility for the consumer?\u00a0 Or will the consumer continue to receive exactly the same level of service and insurance and investment advice from the same adviser who has now moved into a larger or top 30 dealer group?\u00a0 The answer to these questions may vary depending on the individual circumstances of the adviser and client and the policies of the dealer group.<\/p>\n<p>But for the purpose of this poll, we want to know whether or not you agree that the GFC will ultimately result in a consolidation of the number of financial advice practices in Australia, particularly as many advisers reading this poll article will have a strong opinion based on their own present circumstances.<\/p>\n<p>As well as casting your vote in the poll you are welcome to add your own opinion below in our Comments section.<\/p>\n<p><a href=\"https:\/\/riskinfo.com.au\/polls\/impact-of-the-gfc-on-boutique-advice-practices\/\" target=\"_self\">Vote Now!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vote Now! As we place our cue in the rack (for the time being) on the issue of adviser remuneration, we now turn our attention to the impact of the Global Financial Crisis (GFC) on boutique advice practices.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":["post-1301","post","type-post","status-publish","format-standard","category-polls"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/1301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=1301"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/1301\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=1301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=1301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=1301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}