Who is making money post Royal Commission

Vanessa Stoykov,  creator,  No More Practice

It’s a question I have been asking people in our industry for a while now. Obviously, some business models have been relatively uninterrupted, while others have been totally ripped apart. But the question of who is making money has had mixed response.

For advisers, the cost of compliance, education and complying with all the new regulations is proving to be a massive financial burden. Many I talk to are struggling to do it all - service clients, take care of staff, and simply keep changing their model all at the same time. Others tell me they started the process long ago, as they saw the writing on the wall. The cost then has been stretched out over a longer period, but still affected profitability.

Fund managers have acknowledged that funds flow has slowed - across the board in retail. Those with institutional businesses haven’t seen

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