{"id":47187,"date":"2019-11-19T16:21:24","date_gmt":"2019-11-19T05:21:24","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=47187"},"modified":"2019-11-20T06:03:31","modified_gmt":"2019-11-19T19:03:31","slug":"specialist-risk-adviser-numbers-continue-to-decline","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2019\/11\/19\/specialist-risk-adviser-numbers-continue-to-decline\/","title":{"rendered":"Specialist Risk Adviser Numbers Continue to Decline"},"content":{"rendered":"

Risk specialist advisers are becoming an ‘industry niche’, according to latest research released by Investment Trends<\/a>.<\/p>\n

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Investment Trends Senior Analyst, King Loong Choi …the risk specialist planner has become an industry niche<\/figcaption><\/figure>\n

This is one of the key findings published in the research firm’s comprehensive 2019 Planner Risk Report, released this week.<\/p>\n

According to Investment Trends Senior Analyst, King Loong Choi<\/strong>, only 15% of planners derive over 50% of their total practice revenue from providing risk advice, down significantly from 34% five years ago. He maintains that financial planners continue to regard life insurance advice as a key component of their proposition but many are looking to broaden their advice services \u2013 as reflected in the dwindling number of those who he categorises as \u2018risk specialists\u2019:<\/p>\n

\u201cAs more planners seek to diversify their advice proposition, the risk specialist planner has become an industry niche,\u201d he said.<\/p>\n

He also noted that the top two challenges that prevent financial planners from growing their insurance advice services are:<\/p>\n