A recent riskinfo poll has indicated that risk-based financial advisers have mixed feelings regarding the future of their advice businesses.
As at publication, 43 per cent believe risk specialist advice businesses will survive into the future, however almost as many disagree, with 21 per cent unsure. These results do tell us one story, but when compared with a previous poll from June, the story changes to one where risk advisers are more positive about their place in the industry.
There is a general trend towards thinking that risk-based financial advice businesses are going to be out of business in the nearish future due to regulatory changes that may make it untenable. The reign of commissions made the risk advice bracket very profitable over many decades, however legislative changes and in-depth reviews of practices have changed this landscape forever.