Weekly Adviser Movement October 15, 2020

The Financial Adviser Register (FAR) data from ASIC, released today shows only a small loss ‘week to week’ of 7 Adviser roles. For the Financial year to date (July 1 to October 15), the loss has been 257 roles or -1.18%. This is trending at a much lower rate than the first half of the calendar year. For example, from January 1 to April 15, the net loss was 821 or -3.4% Adviser roles.

Oreana Financial Services had the largest gain with 4 new Adviser roles being established. One practice, SFG Sinclair came across from Madison and they accounted for three of the Advisers. Genus Wealth a new AFSL established with 3 Advisers, all from Lonsdale. Genus Wealth appear to be embedded with Addison Partners, a full service accounting and business advisory group.

Losses for the week was again dominated by AMP Financial Planning with a further 8 Advisers existing. SMSF Adviser Network lost 6 advisers.

Looking at Financial Year to date, worth noting the losses at Clearview and Lonsdale. Both have lost 19 Advisers leaving Clearview with only 86 Advisers and Lonsdale with 169. On the positive side, Lifespan are continuing to push ahead growing by 30 Advisers.

Calendar year to date, Lifespan continue their dominance (discounting GWM Advisers that had 156 Advisers switch across from NAB) with a net growth of 56 Adviser roles. Interprac still in second with 45 and Sentry in third spot with 35.

Below is the link to the Weekly Adviser Movement Dashboards.