Robo-advice and boutique advisers to fill the void (The Aust 26/03/19)

The era of the big four banks providing financial advice is now effectively at an end.

The actions of the banks considered together with the Hayne royal commission affecting the ­advice industry, the educational and professional reforms arising from the Financial Adviser Standards and Ethics Authority (FASEA), and disruption being brought on by new technology reinforce a broader picture of seismic change.

Indeed, what is happening is both major disruption and rationalisation of Australia’s financial advice industry.