{"id":6689,"date":"2010-06-15T17:57:36","date_gmt":"2010-06-15T07:57:36","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=6689"},"modified":"2020-02-06T08:10:35","modified_gmt":"2020-02-05T21:10:35","slug":"advisers-lack-confidence-in-industry","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2010\/06\/15\/advisers-lack-confidence-in-industry\/","title":{"rendered":"Reforms Impacting Adviser Confidence"},"content":{"rendered":"

A levelling off in share market returns, combined with the Government’s proposed changes for\u00a0adviser remuneration appear to have dented confidence in the financial planning industry, according to latest data released by Wealth Insights<\/a>.<\/p>\n

With\u00a0current sentiment trending down over recent months, the five year outlook is also trending lower.\u00a0 Wealth Insights says the Government’s proposed financial services reforms have clearly dented planners’ five year outlook.<\/p>\n

In a gloomy set of data, one third of advisers expect that the proposed reforms will have a negative effect on their businesses.<\/p>\n

… half of all advisers anticipate a decrease in revenue if the proposed\u00a0… reforms take effect in July 2012.<\/h6>\n

The researcher says older advisers and those who have been in the industry for more than ten years are more likely to anticipate business to be worse off,
\nas do advisers who have smaller-value clients, while just over half of all advisers anticipate a decrease in revenue if the proposed Future of Financial Advice reforms take effect as planned\u00a0in July 2012.<\/p>\n

While most advisers believe the enshrinement of Fiduciary Duty into law will have no impact on their revenue, they do have concerns about the impact of\u00a0the proposed annual opt-in arrangements.\u00a0 With the prospect of opt-in annual renewal of fees:<\/p>\n