How can we address the problem of advice affordability?
How can we address the problem of advice affordability?
ifa has surveyed some of the industry’s top advisers on the issues that truly matter to them when it comes to addressing the advice affordability challenge. Following ASIC’s release of the results of its consultation last week, we think there’s no better time to start a conversation about how we got here and what we can do to change things.
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Getting the cost of advice down to a reasonable level is one of the sector’s key challenges at the moment. It’s commonly accepted that most clients cannot be profitably serviced for less than $3,000 in annual fees, and consumer research shows that most do not see the value in advice delivered at that kind of price point.