In our latest poll, we asked whether you intended to expand your team and bring onboard new advisers in 2020.
At the time of writing, more than half of voters (52 percent) said yes but 30 percent said they didn’t intend to expand their team. Meanwhile, 18 percent were undecided.
The sector expects 10 percent of advisers to leave financial services under the new regime with MBIE forecasting a drop in adviser numbers of 909 under the new regime (see: Licensing Fees Confirmed…).
However, TAP Managing Director, Ryan Edwards, says this provides an opportunity for advice businesses to fill the gap and grow their adviser team.
“The regulatory shift has provided a fantastic opportunity for well-run businesses who are confident in their systems and processes to expand and fill the gap left by the 10-20 percent of the market that is forecast to be downsizing or exiting the market,” he said.
Our poll still remains open for another week. Click here if you’d like to add your voice to the conversation…