Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Business
Factors Affecting The Growth Of Small Privately-Owned Financial Planning Businesses, Darren A. Pawski, Robert J. Powell, Anna Golab
Factors Affecting The Growth Of Small Privately-Owned Financial Planning Businesses, Darren A. Pawski, Robert J. Powell, Anna Golab
Research outputs 2022 to 2026
Over the past 10 years, there have been many financial scandals in the financial advice industry, which has caused substantial losses for investors. Large wealth institutions controlled by major Australian banks have significantly contributed to investor losses by promoting their products which were not always in the best interests of clients. The aim of this study was to explore the factors affecting the current and future growth of small privately-owned financial planning businesses as a competitive marketplace provides better consumer outcomes. The study undertook a qualitative approach using an exploratory research design which involved the recruitment of 51 privately-owned financial …
An Analysis Of Whether Privately Owned Financial Planning Practices Are Transitioning To Fully Independent Advice Providers, Darren Pawski, Robert Powell, Anna Golab
An Analysis Of Whether Privately Owned Financial Planning Practices Are Transitioning To Fully Independent Advice Providers, Darren Pawski, Robert Powell, Anna Golab
Research outputs 2022 to 2026
In Australia, there are over 20,000 financial advisers, with only 1 % registered as independent financial advisers. This study investigates why there has been no significant transition to independent advising. The importance of the study is underlined by the substantial losses suffered by thousands of consumers from advice that has been found to be influenced by conflicts of interest. Using a qualitative technique, the study undertook exploratory semi-structured interviews among financial advisers. The study found that over 90% of privately owned advisers will not be transitioning to independent advising due to the belief that clients will not pay fees for …