Here’s what you need to know this week:
1. Advisers may be exiting the industry but demand for financial advice is still strong. Over the three months to June 30, the adviser population dipped to about 21,600 – almost 1200 less than the previous quarter, when their numbers fell by 670, Adviser Ratings figures show. More here.
2. Setting up your firm for success doesn’t just happen – you have to be deliberate about the type of work you take on and how you position yourself. There are some key key questions to ask yourself here so you can set the right value proposition for your firm.
3. Is there more regulation and costs coming for advisors? The Financial Planning Association has expressed concern that together with needing to be registered with ASIC and the Tax Practitioners Board (TPB), advisers may need to be registered with the ACCC. More here.
5. A little self care. The connection betwen financial wellbeing and mental health is strong. By looking after your finances, you’re looking after yourself. More here.