Survey shows advisers optimistic on business growth
/Iress’s inaugural Advice Efficiency Survey shows financial advisory firms are optimistic about growth, despite ongoing challenges. Over 100 Australian financial advice practices took part in the survey.
Key findings of the survey include:
Seventy-two per cent of those surveyed forecast growth over the coming three years
Almost all advice businesses will need to change their operating models, with only six per cent saying they will be operating in the same way in three years
About 60 per cent say compliance and legislative requirements will be the greatest barrier to growth, along with finding good personnel and advisers (32 per cent)
Many advice firms are keen to focus on creating scale to achieve growth, but 57 per cent are frustrated by multiple technology platforms and manual entry of data
