IFA business reconstruction from an Australian vantage point

Not only do they have a practical imperative to control the direction and quality of their distribution, they also have a greater anxiety than any of their competitors to do so as they are usually reliant on intermediated sales for most of their volumes. And, of course, they have access to more capital than most others to play with in pursuit of that goal. As Australia has had almost twenty years of wrap development it is useful to take a snapshot of the current state of play here. Financial institutions now employ or franchise over 70% of Australia’s financial planners. In addition, insti...