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Adviser numbers fall below 20kBY KARREN VERGARA | THURSDAY, 3 JUN 2021 12:34PM
The number of authorised financial advisers has officially dipped to 19,922, declining about 11% compared to this time last year.Read more: IOOF, Consultum Financial Planning, ASIC, AMP Financial Planning, Capstone Financial Planning, Charter Financial Planning, Financial Adviser Register, Interprac Financial Planning, Lifespan Financial Planning, Merit Wealth, Morgans Financial, SMSF Advisers Network, Synchronised Business Services
In a year the average fund posted over 18% in returns, CommBank's Essential Super was the top one-year performer.
Superannuation funds can expect their results in the first performance test by August 31 under the new Your Future, Your Super reforms, according to an APRA letter sent Friday.
The Federal Court found that RI Advice Group's failure to provide rigorous oversight over a former financial adviser resulted in bad advice to consumer detriment.
Member of Parliament Tim Wilson will lead the charge to determine if big super's domination over the Australian sharemarket is stifling competition.
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