Top industry insights 2023

As this year comes to an end, check out 2023’s time capsule of opinion pieces that you engaged with the most.

5. Women’s football, the gender wage gap and financial advice

In this blog piece, PPS Mutual chief executive Michael Pillemer highlights how the Matildas’ FIFA Women’s World Cup performance is a powerful symbol of changing societal values.

“As the historic achievement of the Matildas punctuates the journey towards gender equity”, Mr Pillemer said, “let us hope that the trajectory of financial planning and risk management mirrors this victory.”

Read more here.

4. Shattered trust: The unmet expectations of QAR

Earlier this month ifa’s very own editor Maja Garaca Djurdjevic was “struggling to put into words where it all went wrong” after Financial Services Minister, Stephen Jones, announced the government’s policy stance on the second and third tranches of the Quality of Advice Review (QAR).

Sensing that trust within the industry has been “irreparably shattered”, Maja’s only hope was that this adversity prompts the profession to come together in unity, even if just for a little bit.

Read more here.

3. It’s worth remembering, QAR was never about helping advisers

ifa editor Maja Garaca Djurdjevic took pen to paper six months before “shattered trust” to remind everyone that QAR lead Michelle Levy openly confesses in the report that her goal was not to aid financial advisers, digital advice providers, or any other industry players.

Rather, her central focus was on the consumer and their need for accessible, affordable, and safe financial advice.

“Instead of questioning Michelle’s political affiliations and compensation, the industry should embrace the report as an opportunity for fundamental change,” Maja noted.

Read more here.

2. Evolution not revolution: How to scale your advice business responsibly

According to Umesh Banga from Practifi, sustainable growth is the “holy grail” of financial planning businesses looking to expand while realising economies of scale.

How can advice practices continue to expand without compromising on the quality of service provided? An important question, to be sure — and Mr Banga has a couple of tips.

Read more here.

1. Why red tape is tying up women in advice

Coming in first place for the professional insight that engaged you the most was from adviser and author Helen Baker. She believes that regulatory failures within advice are “locking out women” from progressing within the industry.

From CPD demands to gender pay gaps, Ms Baker breaks it all down.

“Of course, all advisers, regardless of their gender, are affected by these regulatory constraints. Yet women shoulder a greater degree of the burden,” she wrote.

Read more here.