No middle ground post-FoFABY LAURA MILLAN | MONDAY, 13 MAY 2013 12:20PMWill FoFA be the death-knell for mid-size financial services companies? Industry experts predict that some segments could lose out come July. |
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David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
Does Michael mean that bigger groups will be able to lower fees by hiding extra fees in the platform costs?
Just not sure how a larger group can help you lower your fees?
The disappearing middle ground has been a constant (and flawed) prediction since I joined the industry in 1987.
Looks to me that the advisory industry is forming into an oligopoly and that the toughest gig will be for the very small shops due to the cost of compliance and marketing. The middle raked orgs will just have to focus on a specialisation.