Adviser Numbers This Week, Net Change of (-24) Moving Down From 15,694 to 15,670

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In a notably busy week, the net adviser numbers experienced a decrease of (-24). Moreover, six licensees effectively closed their operations, resulting in zero advisers remaining under their banner. A total of 125 advisers were affected by these changes, including five new entrants.

One of the most significant developments occurred within our 'Investment Advice' business model. We observed exits at Macquarie last week and Morgan Stanley this week, with Shaw and Partners emerging as the major beneficiary of these departures.

Fortnum acquired Australian Unity's financial advice business. Please note, we do not treat acquisitions as ‘growth’. We treat such deals as a business buying a firm and, by default, the history of the licensee. However, it does propel Fortnum to become the 7th largest advice business in terms of the number of advisers. See more below.

Key Adviser Movements This Week:

• Net change of advisers (-24)

• Current number of advisers at 15,670

• Net Change of (-129) for Calendar YTD

• Net Change Financial YTD +111

• 28 Licensee Owners had net gains of 51 advisers

• 36 Licensee Owners had net losses for (-77) advisers

• 1 New licensee and 6 ceased

• 5 New entrants.

• Number of advisers active this week, appointed / resigned: 125

Growth This Week - Licensee Owners

• Shaw and Partners picked up 13 advisers, 11 from Morgan Stanley and 2 from Macquarie

• 4 Licensee owners up by plus 3:

  • Spark Partnership Group up by 3, with 2 advisers moving from Australian Investment and Insurance Group and 1 from Watershed Dealer Services

  • Castleguard Trust (Lifespan) picking up 2 advisers from Australian Unity and 1 from EP Financial Services

  • ASV Holdings with all 3 advisers coming across from Consultum

  • Alexander Euvrard (Havana Financial Services), picking up 4 advisers, 3 of which came from CIP Licensing and 1 adviser coming back after a gap. They also lost 1 adviser for the net +3

• 3 Licensee owners up by net 2 including UniSuper with one adviser from Guideway and the other from Mercer

• 20 Licensee owners up by net 1 each including Capstone, Sequoia and Roskow.

Losses This Week - Licensee Owners

• Morgan Stanley down by (-14), as mentioned earlier, most moving to Shaw and Partners

• Insignia down by (-11), this included 5 at Millennium 3 (3 being staff), 1 at RI Advice and 5 at Consultum.

• Fortnum down by (-6), 2 from Fortnum and 4 from their acquired Australian Unity licensee, ‘Personal Financial Services Ltd’.

• 3 licensee owners down by (-3):

  • AMP Group lost 4 and gained 1

  • Count Group, who lost 1 from Affinia and 3 from Count Financial. Count Financial also appointed 1 adviser from Bridges

  • Alteris Financial group (CIP Licensing) with advisers moving to Spark Partnership Group

• 8 Licensee owners down by (-2) each including Bell Financial, Shartru and PSK

• 21 licensee owners, down by (-1) each, including all 6 of the licensees that effectively closed.

Note: If you would like to access a list of closed licensees, please contact us.

Largest Licensee Owners
With Fortnum securing the Personal Financial Services licensee from Australian Unity, they have jumped from 14th position to 7th with 383 advisers. Leapfrogging major groups including Cstleguard Trust owners of Lifespan (276), Sequoia (349), and Count Group (370), who are aiming to more than double their size in the new year when they are expected to take over Diverger (387).

There is a lot of movement right now and in the next week or so, we may see Insignia drop from first position after the sale of Millennium 3 to WT Financial Group. On the assumption that happens by the end of the calendar year, AMP will once again be the largest group managing advisers, followed by Insignia and WT Financial Group.

Financial Adviser Client Segmentation Tool - Update
We recently launched our Financial Adviser Client Segmentation Tool that assists financial advisers to focus on a client base that will work in the current climate. With today’s announcement from Stephen Jones, Minister For Financial Services, of ‘free advice’ from ‘qualified advisers’, this will ultimately put pressure on current advice firms to fully understand which client segment they should focus on.

The client segmentation tool allows advisers to make data driven decisions to better understand the revenue by segments, impact on their time and breaks revenue to the hour.

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Click here To See the Client Segmentation Tool Blog Post

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