Financial advice rating and data company, Adviser Ratings, has launched a crowd funding campaign to the public to help improve institutional conduct and transparency in the wealth management industry.
The campaign would be also aimed at providing assistance around how the industry deals with new compliance and monitoring obligations and costs of distribution post the Royal Commission.
The firm’s founder and managing director, Angus Woods, said the campaign would also give every adviser in Australia an opportunity to participate in not only the ongoing success of Adviser Ratings, but to benefit the industry in general.
“The environment has never been more conducive for substantive reform. Our business is well positioned to help elevate this industry towards becoming a profession that the community trusts and respects, while at the same time reducing costs where Hayne and other regulations have increased costs or removed revenue streams,” he said.
“The crowd funding opportunity allows those that use us and benefit from our products to invest in us, making them a closer part of the family. Pleasingly, the demand for this raise has been strong with our minimum target of $350,000 achieved in the first four days.”