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CoreData research indicates major change coming from FoFA

CoreData recently released a White Paper called, "Fixing the Culture of Advice in Australia". It suggests the majority of financial advisers believe change is necessary in their industry, especially a change in fee structures.

Some interesting data in the paper:

  • 53% of financial planners say FoFA reforms will have a negative impact on them
  • 42% believe FoFA will be negative for their clients
  • 60% say FoFA will be adverse for their business
  • About 10% expect to leave the industry in the next 2 to 5 years.

 

  •   15 March 2013
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