Financial advice in Australia has become a regulated profession since the Banking Royal Commission. Advisers now need an approved degree, must pass the national adviser exam, complete a professional year and follow a legal best-interests duty. Adviser numbers have roughly halved as a result.

In this video, McKern financial adviser Kristian Tangan explains why the big banks' vertically integrated advice model led to reform, what the new education and ethics standards mean for the quality of advice, and why clients can have more confidence and transparency today.

In this video

0:00 Why has there been a huge shift in financial planning?

1:26 How does the quality compare to before?

1:59 Technical focus vs sales experience

2:40 Will service improve with the new compliance?

3:44 What it takes to become a financial adviser

General information only, not personal advice.