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Goals-based advice

Podcast

With Fraser Jack

Episode 123, Season 2

What does the Financial Advice Landscape look like with Angus Woods

April 22, 2020
Episode 123 Angus Woods-Final

Podcast

Duration: 51 min

In a time of immense industry change, it is easy to get caught up in the whirlwind of breaking news headlines and numbers that flood through your email inbox each morning. Thankfully, the team at Adviser Ratings have put in the work to pull together a comprehensive report which crunches the numbers on the new financial planning landscape.

 

In this episode, we speak to Angus Woods, founder of Adviser Ratings, to talk about the most interesting outcomes of the extensive and insightful report. We go into detail on what today's average adviser looks like, including age and income, what the average financial planning client looks like, how many advisers are entering vs exiting the industry, and what the adviser of the future should be doing. Angus also provides insight into what projects are next in store for Adviser Ratings, including some exciting new developments with David Koch. 

 

This episode is all about putting the microscope on the advice industry, and getting an accurate look at the landscape. This insightful research is a great baseline to look at when considering how to shape the financial planning business of the future. 

 

Resources:

To reach out to Angus Woods, please contact him via angus@adviserratings.com.au.

What You'll Learn From This Episode:

  • Why a 4.7 star rating is better than 5 star rating
  • What does the average adviser look like in 2020?
  • How many clients does the average adviser have?
  • What does the average financial advice client look like?
  • What are clients paying their advisers on average?
  • What is the average adviser earning?
  • How many advisers have left vs entered the industry in the last 12 months?
  • What does the future of licensing look like?
  • How many advisers are firing their clients?
  • How can you cater for low-profit clients?
  • What does it mean to be a modern hybrid adviser?

About Our Guest:




Angus Woods is the founder of Adviser Ratings, an online financial adviser review site for consumers. An accountant by trade, Angus has enjoyed roles at companies such as Macquaire and Virgin Money, developing a taste for entrepreneurialism. Writing a business case for a consumer review website for financial advisers, the idea was parked in the bedside table for a number of years before being turned into a reality in 2014. Understanding the value of good financial advice, and the ramifications of poor advice, Angus set out to build a central repository for consumers to find their perfect adviser. Thus, adviser ratings was born. 

 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page

 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at fraser.jack@adviceintelligence.com.  

 

Thanks for tuning in!