Financial Planning

Adviser Ratings unveils ASX adviser tool

Adviser Ratings ASX

Adviser Ratings has launched a new Find An Adviser tool to help consumers find financial advisers who are ASX trading participants.

Financial advice data and ratings agency Adviser Ratings has launched a new service on the Australian Securities Exchange (ASX) to help consumers find financial advisers who are ASX trading participants.

The company’s new ASX Find An Adviser tool, currently containing over 200 financial advisers and with the potential to hold over 2000 advisers working at ASX trading participants, intends to build on the increasing demand for professional advice among investors.

“We are delighted to welcome ASX as a client of our white-label service and applaud their commitment to creating better connections between investors and advisers,” Adviser Ratings chief executive Mark Hoven said.

“White-labelling is integral to our mission to improve advice affordability and accessibility for consumers. The ASX solution launches at a time of increased interest in direct investing, including exposure to exchange-traded funds and international equities, and ongoing product innovation from fund managers supported by ASX.

“Financial advisers working for trading participants and other licensees are also accommodating this demand through changing investment portfolio strategies and execution channels.”

The ASX launch is the third Find An Adviser product launch for the ratings agency, following previous launches in conjunction with a large super fund and a national small business directory.

“As organisations increasingly recognise the power of financial advice to improve financial well-being for their clients, members, investors, policyholders or employees, we expect to see more demand for our white-label service,” Hoven said.

The service allowed wealth firms like fund managers to connect their end clients to different third-party advisers “without running the legal risk and moral hazard of making an explicit recommendation”, he pointed out.

“Our service removes this business risk by allowing consumers to self-select from a custom list of advisers matched to the geographic and demographic span of the audience.”

Last year, Adviser Ratings established an external governance committee to oversee a new rating system in light of recommendations made by the banking and financial services royal commission.

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