According to Rainmaker Information’s Financial Adviser Report, in the 3 years since the 2019 peak, the financial planning industry has witnessed a 38% reduction in adviser numbers. Of those who remain in the industry, a high level of movement is evident. While some of these moves are driven by the changes that their dealer group are going through, most are driven by advisers seeking better value, and better support.
Not all AFSL licensees are created equal, of course. In the past, larger dealer groups were the go-to option for advisers looking for a licensee with full capabilities. Advisers looking for flexibility and freedom, would forgo some of those capabilities and choose for a smaller or a boutique licensee.
AIIG’s Business Development Manager Antonia Chao said “The boutiques are gaining popularity for their ability to be agile in the changing landscape, but the challenge that most boutique AFSLs face is the lack of ability to achieve scale, this in turn limits their capability to provide value for their advisers.”
“Despite this, trends in the recent years have shown a shift towards small to medium-sized licensees, as more self-employed financial advisers are moving away from larger licensees.”
AIIG has redefined their service proposition to enhance their AFSL’s capabilities to deliver value and scale to their adviser, while committing maintaining flexibility and adaptability in a dynamic environment.
‘We partner with our advisers, our philosophy is to put the pen back in the adviser’s hands, allowing them to write their own narrative, and make the best decisions for their clients and their business.”
“The ASFL Licensing structure is evolving, while it is uncertain how it will look in five years’ time, we want to empower our advisers by providing them with the tools and support they need to succeed in this rapidly changing industry. That is why we are positioning ourselves and our advisers to be ready for any change and to be able to adapt with minimum disruptions.”
Conclusion:
If you would like to find out more about AIIG and their offer, please contact Antonia for a confidential discussion.
Email: hello@aiig.com.au
Contact: Antonia Chao
Phone: +61 419 226 862
