The ABCs of advice
During the banking royal commission’s public hearings, the damage caused by poor financial advice was there for us all to see. It did little to repair the trust gap between financial advisers and existing or prospective clients.
Trust is only one problem plaguing financial advisers. We’re increasingly savvy when it comes to managing money and more likely to manage our own affairs, which means advisers need to better demonstrate their value and do so quickly before advice becomes all too stale.
Jodie Hampshire, managing director of Russell Investments Australia, is concerned not as many of us will look for financial advice in the future because what an adviser has to offer – on the surface – will appear less appealing.
New adviser education standards
