Almost 60 per cent of advice practices reported an uptick in profitability for the year to June 2017, 27 per cent were stable and close to 15 per cent recorded a decline in profitability, according to the 2017 Investment Trends Planner Risk Report. The research confirmed that life is challenging for advisers with insurance advice revenue down to 26 per cent of total revenue, compared to 32 per cent in 2015.

For the first time, many workers are now eligible to a claim tax deduction on personal concessional contributions made to their superannuation fund. An increasing number of Australians are using these contributions to pay for insurance premiums and boost their retirement savings, Jeffrey Scott writes.