Development of the Industry

1073 Words4 Pages
This presence cannot be ignored and has led to the development of the industry. With new regulations being introduced, such as FoFA, threaten the same earnings as before but experts believe, from our interviews, will bring in large volumes of business to the industry. The industry would soon need to adjust to the newer conditions but is expected to develop around it given the opportunity the wealth pool has to offer. Further, the sophistication of the industry can be seen by the existence of over 200 Boutique Investment firms who provide expertise to their niche investors. There is an expectation of consolidation of these firms in view of the recent changes about slim margins but the market has seen disruptive firms booming without any old heritage and running successfully. More than 23 of Australian Investment firms are identified to be the World's Top 500 largest firms. The existence alone highlights the growth potential of the industry and the future of the industry. 3. Literature Review The future of the wealth management industry in Australia depends on the reasons that are leading to the growth of the industry such as superannuation pool, regulatory changes, digitalization, etc. There are also some challenges faced by the industry due to rising rates, higher contribution to superannuation, etc which hold back the development and with respect to that, policy makers have been making recommendations and suggestions which we look into to make a conclusion. So
Open Document