Based on news from Australia that there is a declining number of specialist risk advisers, do you think the same trend will be seen in New Zealand?
- Yes (87%)
- No (8%)
- Not sure (5%)
Loading ...A report out of Australia reveals that specialist risk adviser numbers are dropping as the cost of doing business becomes prohibitive.
Adviser Ratings‘ Landscape Report says the 2021 year closed a with 609 specialist risk advisers (pure risk or mostly risk) exiting the sector, and at a rate of almost 2.5 times greater than their non-risk counterparts, they are leaving a high proportion of orphaned clients.
Among the conclusions of the report are that 100,000 clients either ceased receiving advice or were orphaned by their adviser, and that there are 5.6 million unadvised Australians looking for professional advice.
Is this trend something that could be repeated in New Zealand?
Read our story: Specialist Risk Adviser Numbers Drop in Australia