Make your fees more visible: Anderson

Financial advisers should make their fees more visible and use technology to strip administration out of their businesses as clients increasingly look for independent advice rather than investment products, Kernel founder and chief executive Dean Anderson says.

Anderson says trust in financial services is shifting away from large institutions and established brands towards platforms and advisers clients believe are working in their interests.

“Trust hasn’t disappeared. It’s moved – from the name on the fund, to the platform behind it, to the adviser who’s genuinely in their corner.”

That shift is being accelerated by better-informed clients who research financial decisions before approaching an adviser.