The Financial Planning and Investment Advice industry has undergone some fundamental changes over the past five years. The Future of Financial Advice (FOFA) legislation was introduced in July 2013 in response to a number of advisory firm disasters. The legislation aims to address conflicts of interest, transparency and look after the clients' best interests. The industry initially fought the new regulations, but was eventually forced to accept them. A number of larger groups adopted the regulations early, and implemented a fee-for-service remuneration model. Consequently, these groups now have more time to acclimatise and refine remuneration and pricing structures.
Establishments in this industry provide financial planning and advice to clients.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.