2018 Australian Financial Advice Landscape

Transcription

1 218 Australian Financial Advice Landscape

2 218 Australian Financial Advice Landscape Cntents Size Of The Cnsumer Advice Market 1 (The Cnsumer) Servicing The Australian Cnsumer 2 (The Adviser) Suppliers T The Advice Space 3 - Investment platfrms, penetratin rates and their rating - Insurance platfrms, penetratin rates and their rating - Sftware platfrms, penetratin rates and their rating - Research huses, penetratin rates and their rating - PI insurers and cverage rates Apprved Prduct Lists 4 - Cverage rates f death and TPD, incme prtectin and trauma insurance by adviser and licensee - Super funds cverage rates by adviser and licensee Retail Public sectr Industry Crprate - Prduct type cverage rates by adviser and licensee Direct shares Managed funds Structured prducts Managed accunts Mdel prtflis using managed funds Mdel prtflis using direct shares Client Analysis 5 - Average funds under advice by adviser - Average number f clients by adviser - Average age f clients by adviser - Types f clients by adviser - Average in-frce premiums by adviser Adviser Analysis 6 - Average Fee Types by adviser and licensee - Average minimum threshlds (incme and assets) by adviser and licensee - Average practice educatinal requirements when n-barding advisers SMSF Analysis 7 - Prprtin f advisers wh advise SMSF clients - Average funds under advice v split f SMSF Adviser Mvement Analysis 8 - Number f advisers wh have mved between independently wned, institutinally aligned and institutinally wned licensees - Trend analysis f mvements Sci-Ecnmic Snapsht 9 - Ecnmy - Ppulatin - Incme Survey Methd The 218 Australian Advice Landscape incrprates Adviser Ratings prprietary data, survey infrmatin and census data. The detailed analysis is based n an nline survey f financial advisers cnducted between 22 Nvember 217 and 13 December 217. The survey cvered a wide set f variable infrmatin. A ttal f 1,115 valid respnses t the survey were received acrss 285 licensees after data cleaning and de-duplicatin. The maximum sampling errr (centre f the range) at the 95% cnfidence interval fr this sample is +/-2.8%. Published March 218 Survey Survey was cnducted 22 Nvember t 13 December Authr Cntact Adviser Ratings Research Mark Hven mark@adviserratings.cm.au r

3 218 Australian Financial Advice Landscape Key Gegraphic Regins Adviser Ratings data supplied n the fllwing 59 regins, including ecnmy, ppulatin and incme snapsht f each regin. New Suth Wales - Capital Regin - Central Cast - Cffs Harbur-Graftn + Richmnd-Tweed - Far West and Orana + Central West - Hunter Valley exc Newcastle - Illawarra - Mid Nrth Cast - New England and Nrth West - Newcastle and Lake Macquarie - Riverina + Murray - Suthern Highlands and Shalhaven - Sydney-Baulkham Hills and Hawkesbury - Sydney-City and Inner Suth - Sydney-Eastern Suburbs - Sydney-Inner Suth West + Inner West - Sydney-Nrth Sydney and Hrnsby - Sydney-Nrthern Beaches - Sydney-Outer West and Blue Muntains + Outer Suth West + Suth West - Sydney-Parramatta - Sydney-Ryde - Sydney-Sutherland Queensland - Brisbane-East - Brisbane-Nrth - Brisbane-Suth - Brisbane-West - Brisbane Inner City - Cairns - Darling Dwns-Marana - Gld Cast - Ipswich - Mackay + Fitzry - Mretn Bay-(Nrth + Suth) - Sunshine Cast - Twnsville - Wide Bay Victria - Ballarat - Bendig - Geelng - Hume - Latrbe-Gippsland - Melburne-Inner - Melburne-Inner East - Melburne-Inner Suth - Melburne-(Nrth + Nrth East + Nrth West) - Melburne-Outer East - Melburne-Suth East + Mrningtn Peninsula - Melburne-West - Nrth West + Murray + Warrnambl and Suth West - Sheppartn (inc. Seymur) Western Australia - Bunbury + Mandurah - Perth-Inner - Perth-(Suth East + Suth West) - Western Australia-(Outback + Wheatbelt) Suth Australia - Adelaide-Central and Hills - Adelaide (Nrth + West + Suth) - Rest f Suth Australia Tasmania - Hbart - Rest f Tasmania Australian Capital Territry - Australian Capital Territry Australia regins determined accrding t ABS SA4 Categries + Where tw SA4 regins are cmbined

4 218 Australian Financial Advice Landscape An infgraphic shwcasing results fr Adelaide - Central & Hills. The full reprt spans 59 regins acrss Australia. SURVEY DEC ,115 Ttal Respndents T Survey 19,6 Ttal Active Advisers In Australia 92 1,3 1, ,6 3, , Adelaide - Central & Hills Advisers 7 1,227 Practices Licenses Survey Ttal Ppulatin The ttal number f active advisers is apprximate and runded fr each state Fllwing results refer t Adelaide - Central & Hills INVESTMENT PLATFORMS 4 The independent investment platfrms have grwing penetratin ff a lw base but exceptinal adviser satisfactin 22 41% 3% 26% 5 Usage Net Prmter Scre 16% 16% Detractrs Passive Prmter 13% 7% -3 Net Prmter Scre = % Prmters - % Detractrs Net Prmter Scre ADVISER MOVEMENT Number Of Advisers In Last 12 Mnths Institutinally Affiliated Independently Owned Only IOOF experienced net psitive inflws f advisers amngst the big Advisers Jining Institutinally Owned Advisers Leaving 8% f new advisers jined independently wned licensees Ttal Advisers 13% f advisers mved licensee in last 12 mnths

5 VENDOR NET PROMOTER SCORE Internal -5 Planning 5 Sftware -25 Investment 25 Research Life Insurance Platfrms * Wrap APPROVED PRODUCT LIST Funds 96% Shares Mdels (Funds) Managed Accunts Mdels (Shares) Structured Prduct Investments 83% 79% 74% 61% 43% Retail Crprate Industry Public Sectr Super Funds 8% 79% 76% 73% 69% 69% Life Insurers BUSINESS SIZE Funds Under Advice Average Per Adviser Per Practice CUSTOMER PROFILING Custmers Per Adviser 74% f advisers nw have managed accunts n their menu In Frce Premiums Annual Average Per Adviser Per Practice Adelaide Australia 18% Dn t advise n life insurance Demgraphics 8% <35 Age 25% % Accumulatin 22% Life Stage Small Business 33% Pst Retirement Ding Business With SMSF 74% <2% Of Clients With SMSF 9% N SMSF Clients >2% Clients With SMSF Near Retirement 23% Funds Under Advice Average per Adviser N SMSF Clients SMSF Clients >% Adviser Ratings is the trusted, independent surce f the mst cmprehensive and up-t-date infrmatin n the financial adviser cmmunity spanning 24, advisers, 8, practices and 1,6 licensees. The 218 Australian Financial Advice Landscape reprt draws frm ur rich database cmplemented by a survey f 1,115 advisers cnducted in December 217. Fr mre infrmatin n this reprt please cntact CEO Wealth Mark Hven mark@adviserratings.cm.au