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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ASIC cancels AFSL of Australian Fiduciaries
ASIC has cancelled the Australian financial services licence (AFSL) of Queensland-based Australian Fiduciaries, which is currently in liquidation.
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Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
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.