Do you match the profile of the adviser industry?
The Skills Organisation, which offers qualifications for the industry, has issued a report based on a series of online interviews with industry participants.
It found that almost half of those surveyed were self-employed, although there was a lot of differentiation between subsets of the industry.
Most of the self-employed advisers were offering risk advice. More than two-thirds of advisers offering only investment advice were employees, and 66% of those offering services such as KiwiSaver, estate planning and fund management were employed.
It found 14% of authorised financial advisers (AFAs) were offering only insurance advice, for which they need only to be registered. Almost 40% of them received a salary and 37% earned commissions. Another 17% received a combination of the two methods combined.
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