The pace of change in Australia’s financial advice industry shows no signs of abating. New legislation enforcing the Hayne Royal Commission recommendations will be introduced in the first half of next year – just one of a number of challenges facing financial advisers. Preparing for change Adviser Ratings forecasts the number of active financial advisers will fall dramatically from 21,500 in 2018 to 15,000 in 2024. Some of the many catalysts include the new education standards, post-Royal Commission changes and the abolishion of grandfathered commissions, which is expected to reduce adviser revenue. Changing client expectations and competition from new technologies...