Financial Adviser - Gross Revenue Fin Year 2022/23

We have reviewed the ASX financial statements and presentations from eight companies that provide financial adviser services. Our goal was to establish a benchmark for financial adviser gross revenue generated for the financial year 2022/23.

The chart below highlights that the range varies from $600,000 per adviser for one company, down to $236,550. The median number for the group is $393,050. The ‘average’, calculated as adding up all revenue and dividing by all advisers, came in at $463,258

Gross Revenue Generated Per Adviser At Eight ASX Listed Companies - Financial Year 2023/23

Notes To The Data
As some readers will know, not all companies provide actual revenue amounts for advisers. Some do, others have the data consolidated with other revenue lines. When the data has not been explicit, we have used our experience to delve into the revenues generated and expenses paid back to advisers.

We have cross-referenced each company’s data for the number of advisers with our data. For the purpose of this exercise, we have used the ‘average’ number of advisers, this being a simple calculation of adding the number of the advisers at the start and end of the financial year and dividing by two. We have also discounted the number of advisers on the ASIC FAR, to allow for the number of non client facing staff who may be on the FAR. Generally, this is only 5% unless we note a significant difference between our data and what was published to the ASX.

The total number of advisers, averaged over this period, was 3,856. The companies reviewed were; AMP, Insignia, Diverger, Sequoia, Centrepoint, Fiducian, Count and WT Financial Group.