Research done in Australia shows that “2019 saw the industry shed a huge 4,378 advisers (15.6 percent) throughout the year.” Other key points the report highlighted are:
- Three out of five advisers are now privately (meaning individually) licensed
- ‘Micro-licensees’ (10 advisers or less) have grown to more than 21 percent of the market
- 30 percent of the entire industry has been on the move (ceased or switched) in some form or another in 2019
It looks like Australia has come around to the idea of flexibility in licensing. Click here to read more.