Adviser confidence on the rise as pandemic restrictions ease
A new survey has revealed that optimism for both financial advisers and investors is increasing as pandemic restrictions around Australia ease.
The findings, conducted by financial research consultancy CoreData as part of Colonial First State’s Advice Insights Report, surveyed over 200 advisers and 270 “mass affluent and high-net-worth individuals” to examine investor behaviour and sentiment.
The results showed that adviser sentiment was up in the December quarter for 2021 to 57 out of 100 (up from 51 in Q4 2020), and confidence also increased across measures like revenue expectations, business outlook and operating conditions.
Over 70 per cent of advisers expect their revenue to grow by 10 per cent or more over the next year.
“The Advice Insights Report paints a picture of an industry that has held up remarkably well given the challenges over the previous couple of years,” CFS chief distribution officer Bryce Quirk said.
“Adviser services are in demand which shows that many more Australians are looking for help with financial decisions. While there are challenges in the operating environment, advisers are optimistic about the opportunities for their businesses in the coming year.
“CFS is focused on supporting advisers by providing the tools they need to do business more efficiently and becoming easier to do business with in the future.”
The survey comes after CFS pledged to be an ally to the advice industry and “simplify” future regulation following the completion of the sale by CBA of a 55 per cent stake to global investment firm KKR last December.
Tony Zhang
Tony Zhang is a journalist at Accountants Daily, which is the leading source of news, strategy and educational content for professionals working in the accounting sector.
Since joining the Momentum Media team in 2020, Tony has written for a range of its publications including Lawyers Weekly, Adviser Innovation, ifa and SMSF Adviser. He has been full-time on Accountants Daily since September 2021.
