Is the advice industry on the precipice of more change?

On this episode, Scott discusses why the advice industry is on the precipice of even more change after the impacts of the COVID-19 pandemic and with a predicted exodus of advisers by 2026.

“But there’s also going to be a great opportunity,” Scott said.

“Now, what I mean by that is, planners will be able to access and service more clients as a result of the shrinking industry… one of the reasons I see planners changing as well, and the industry on change, is technology has become the forefront of everything right now.”

On this episode, Neil and Scott also talk about why it’s becoming more cost-effective to be an independent financial adviser, what licensees can be doing to support advisers though this change, and analyse the state of Australia’s technology ecosystem in 2022.