Advice fees rise 40% in five years; Grattan’s plans to boost revenue

Financial advice fees have risen by close to 40 per cent over the last five years and the majority of advisers expect to hike fees further in the coming years, according to research.

Redesigning the Stage 3 tax cuts and increasing the age to access super by five years are among the suggestions from the Grattan Institute to boost revenue.

Equity funds saw outflows of more than $500 million in the first quarter of 2023, the highest proportion since the start of the pandemic.

With over 20 events to take place across Australia, the newly launched program aimed to attract and develop the next generation of financial advisers.

As younger Australians navigate their first period of rising inflation, almost half of Gen Z say they are unprepared and ill-equipped to make financial decisions amid the rising cost of living, according to Finder.

Shez Ford, former wealth and advice executive at CBA, has moved over to Allianz Australia as chief general manager, consumer.

Dealer groups that win the adviser relationship will be those that place digital at the centre of their adviser value proposition, according to Midwinter.