My most likely response at the moment to the new adviser licensing regime will be to:
- Obtain my own licence and operate a small advice business (1-2 financial advisers) (54%)
- Obtain a licence for my advice business and engage multiple advisers (>2) (21%)
- Work for someone else’s business which holds a licence (16%)
- Retire from the industry (9%)
Loading ...The results of our latest poll suggest nothing much has changed for advisers over the last 12 months when it comes to their position on individual licensing.
As we go to press, the most popular choice among advisers, by far, when it comes to the soon-to-be-implemented adviser licensing regime, is to obtain their own licence and operate a small advice business comprising one to two advisers. 58 percent chose this option, which is slightly down on results from early 2018, where two thirds (67 percent) chose this path.
Slightly up was your preference to obtain a licence for your own business and engage more than two advisers to work within it (21 percent). This compares with 14 percent a year ago.
While we don’t pass scientific rigour in our poll methodology, we’re still encouraged by the result that fewer advisers are now considering departing the industry they have chosen (8 percent), compared with 11 percent in March 2018. This doesn’t represent a significant change, but there may be an inference to draw that developments in the last 12 months have failed to discourage advisers from continuing in their chosen field in future.
There’s a new advice environment just beyond the horizon for Kiwi advisers and we’ll stay in touch with you as events unfold over 2019 and beyond.
In the meantime, our poll remains open for another week, if you’d like to add your voice to the conversation…