Revenue survey reveals both encouraging and worrying news

Recently we completed a search for the public disclosure documents of more than 1,000 Financial Advice Providers and did an in-depth analysis of the public disclosure documents. Results were both encouraging and worrying.The survey includes data on:

  • The scope of advice services offered
  • Sources of revenue
  • Revenue sources by advice services offered
  • Product providers advice can be provided on
  • Extent of use of fees
  • Fee types and amounts
  • Hourly rates chargeable

It was worrying some aspects of the disclosures were inadequate, some merely hard to find. It was encouraging to see a wider diversity of revenue sources and charging mechanisms than had been feared, indicating some awareness of the challenges possible in an environment where upfront commission may be under pressure. Highlights of the research will be available to subscribers to our quarterly life and health report, coming to corporate subscribers in the next few days. Full survey results will be available to subscribers to our quarterly remuneration survey.