Five ways the industry will change post Royal Commission

Vanessa Stoykov,  creator,  No More Practice

I have watched with interest the industry reaction to the Royal Commission, as we see banks start to divest of their wealth arms and distance themselves from advice and investing.

We will truly see a new landscape over the coming two to three years, with more change happening now than has happened in the last decade. While nobody can entirely predict the future, after talking to business leaders, researchers, and leading advisers, I think it’s clear things will look very different. I believe there are at least five key ways the industry will evolve. There are many who can gain from this change if they are ready and well positioned.


Distribution of investment products will be disrupted.

While advisers will still be a main component of the all-important relationship between end investor and fund manager, post Royal Commission there will be a bigger focus on fees and who investors are paying them

Continue Reading
Liked this article? Let us know

Want more of the latest in opinions, expert insights and training?

Subscribe to our free eNewsletter now

/ Related content

Giving advisers what they deserve

Your direct feedback has led us to develop further tools and insights t....

Talking strategy post Royal Commission

One thing I do see is a need for change in the way many of us communicat....

Why celebrating good leadership matters

As our industry rebuilds itself, putting these leaders in the spotlight ....

Russell McConachy

26/06/18

Vanessa, I am glad you are excited because no one else is! Firstly, after the Trowbridge report our income was cut in half, then I have the gov't telling me I am not qualified to give advice after 45 years of doing so! As about 15% of advisers have degrees, how many can afford the time or have the ability to complete a degree, especially as many are in their fifties? I wonder how many of the bank executives coming under the scrutiny of the royal commission, have degrees! Clearly, many need further training, particularly regarding ethics. Not all change is for the better and this is a perfect example. The "new world order" will be that of massive underinsurance and very expensive advice, if any.

Ian Hamilton Hamilton

26/06/18

45 yrs Russell, a remarkable time span, i have done only 27. and i too wont be qualified, but hopefully i have found a buyer so i will continue on with them for a couple of years and then who knows, a totally no responsibility / no ethnic / no constant worry employment might be found. ( I could have mentioned a couple )... I havent made any profit for years now, i live on my basic after tax income, pay the wages, rent , computers, software, insurances, licence fees, conference costs, education time, etc... It will be up to the new business to graft out the upfront and ongoing fee structure, and to be profitable. Its become a very sad, over compliant ( for the good people ) and painful environment for me,

Ian Hamilton Hamilton

26/06/18

And furthermore, as I open today's mail, i have insurance renewals from a large insurer i have preferred for many years. You see.... i have been a "big " level premium recommend 'er over the years, so today 4 clients with level get between 19 & 25% increases on there products in ONE year. .. level what ? In 2009 when changing from a large "in the s..t "group, part of the Big 5 ", i asked a question to the speaker on the dias .. So what is the most profitable business... adviser lines or Group Insurance...? his answer I will get back to you, great question he said ...that is now 9 years ago.. its pathetic.

Leave a comment /

Related content /

07 November, 2018

Vanessa Stoykov,creator,No More Practice

Giving advisers what they deserve

Your direct feedback has led us to develop further tools and insights to give advisers exactly what they deserve.

Read now

29 October, 2018

Vanessa Stoykov,creator,No More Practice

Talking strategy post Royal Commission

One thing I do see is a need for change in the way many of us communicate our strategy and purpose for our business. 

Read now

27 September, 2018

Vanessa Stoykov,creator,No More Practice

Why celebrating good leadership matters

As our industry rebuilds itself, putting these leaders in the spotlight is vital.

Read now

WordPress Lightbox Plugin