Focus on older men will kill financial planningBY ALEX BURKE | FRIDAY, 22 JUL 2016 9:46AMThe over-representation of over-50 men in financial advice spells doom for the industry, according to Affinia head Marcus O'Sullivan. Related News |
Editor's Choice
ASX profits slump as ASIC inquiry costs bite
|The ASX reported a fall in its statutory net profit driven by $51.1 million in legal costs and penalties as a result of settling legal proceedings with ASIC.
AI advice boom highlights urgent need for affordable advice: SMC
|Australians are increasingly turning to artificial intelligence to understand their superannuation and retirement options, but new research suggests many remain reluctant to rely on AI alone for major financial decisions.
Space, semiconductor ETFs worst performers in July
|Space-related and semiconductor exchange traded funds (ETFs) were among the worst performers in the month of July after delivering exceptional gains earlier in the year.
The SILC Group brings US wholesale fund Down Under
|The SILC Group has helped introduce a Denver-based investment manager to the local wholesale market with a new global equities fund.
Videos
Brought to you by ![]()
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Andrew Gregory
CHIEF ADVICE OFFICER
UNISUPER
UNISUPER
After 25 years, Andrew Gregory remains motivated by the impact financial advice can have on Australians' lives. As UniSuper's chief advice officer, he is not slowing down on any of his current ambitions. Matthew Wai writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
What can one expect, after the Industry funds have been allowed to demonise the profession for years with 24/7 TV advertising, designed to create a negative stereotype. Then you have the sensation seeking media who tend to blow the slightest scandal completely out of proportion and generalise like hell about all industry participants.
Like any other, this industry has had it's rogues but by-enlarge the majority are professionals seeking to do the right thing by their clients. Vested interests and an irresponsible media have damaged the profession's reputation almost beyond repair.
Is it therefore any wonder that not many young graduates are seeking a career in Financial Planning? Is it also any wonder that over the next five years you are likely to see a mass retirement of industry stalwarts, who are sick to death of endless inquiries, reforms and politicisation, leading to an over complication of the advice process? Anybody who hasn't seen this coming must have had their head buried in the sand. This story is no great revelation.