Hungry Advisers

The vast majority of Australia’s financial planners are pursuing aggressive business expansion plans, or at least wanting to, with four out of five seeking significant growth in their levels of funds under advice (FUA).

77.5% of the nation’s professional planners are presently trying increase their fund flows and profitability according to new segmentation research conducted by CoreData.

However this doesn’t mean the same proportion of planners are not content with the existing size of their respective client books and businesses.

Australian advisers can be split into two distinct groups when it comes to revenue generation and profitability. Two in five are not satisfied with the revenue generating levels of their client base/businesses, while a similar number note to being satisfied.

40.4% sat on the side of discontent, with 4.8% strongly disagreeing and 35.7% disagreeing.

Practice principals are slightly more inclined to be less satisfied with the size of the business compared to advisers who work inside businesses, with two in five of the former disagreeing to being content compared to one in three of the latter.

I am happy with the revenue generating levels of my client base/business

n=815 Source: CoreData-brandmanagement

Meanwhile 38.7% – 35.1% agree and 3.6% strongly agree – that they are satisfied with the revenue generating levels of their client base/businesses.

In terms of behaviour the segmentation study has identified four notably different groups of adviser, for example, adviser who adopt different approaches towards client service, the delivery of financial advice and longer-term succession strategies.