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Legal and regulatory update for the life and health insurance sector

Australia: adviser numbers heading further down

David Chaplin's Investment News has this piece on the adviser numbers in Australia after their recent regulatory changes. Numbers are almost a third down in 2018. Although the article quotes some slightly more upbeat news from those that are getting qualifications ahead of full implementation they make worrying reading for those that take a view more based on client access to advice and with half an eye on efficient markets. Advisers that choose to remain can look forward to a lot less competition due to reduced numbers - while clients will have to hunt around for advisers with the range of services to meet their needs, and those not able to pay the high fees becoming increasingly common will have to make do with DIY and direct. 


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