The number of financial advisers in Australia continues to fall. When combined with the limited supply of new advisers entering the industry and the uptick in demand for financial advice, this is a worrying trend for the industry.
The continued development of strategies to harvest factor returns in a low-cost manner has effectively raised the bar for many fundamental active managers who need to generate outperformance to justify their higher fees.
There's been a lot to reckon with so far in 2020. It has made us all a bit more aware of the impact our choices have on others, and the world at large, and helped drive a new wave of interest in ESG as an investment category.