Financial Adviser Insights, Data to Jan 25, 2024.
Adviser Numbers Jan 25, 2024, Net Change of +18, Moving From 15,646 To 15,664
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Summary for the week
The net numbers were up by +18 which is very encouraging. Another busy week with 96 advisers affected by resignation / appointment, 16 of these advisers are ‘new entrants’.
SEE OUR SUMMARY OF 2023
For a summary of the key data points by adviser movement, change in licensee owners and new entrants, click on the button below.
Key Adviser Movements This Week:
Net change of advisers +18
Current number of advisers at 15,664
Net Change of +45 for Calendar 2024 YTD
Net Change Financial YTD +106
36 Licensee Owners had net gains of 45 advisers
25 Licensee Owners had net losses for (-34) advisers
4 New licensees and 3 ceased
16 New entrants.
Number of advisers active this week, appointed / resigned: 96.
Growth This Week - Licensee Owners
ASVW Holding up by 4 and now have a total of 48 advisers. 3 of the advisers came across from Consultum
Canaccord Group up by 3, with 2 of the advisers being new entrants
4 licensee owners up by 2:
Morgans Group, with one new entrant and the other from AMP Financial Planning
A new licensee commenced with 2 experienced advisers
Jason V Davis (Avana Financial Services) with advisers from different licensees
Fortnum with one experienced adviser and a new entrant.
A long tail of 30 licensee owners up by +1 each including AMP Group, Castleguard (Lifespan), and Findex.
Losses This Week - Licensee Owners
Crown Wealth Group down by (-6), all have been appointed elsewhere (some noted in earlier updates)
BLA Parker, lost 3 advisers and now down to zero. However, all 3 advisers are also authorised at Parker Wealth and remain current under that AFSL
EQT Holdings also down by 3 advisers, all currently ceased on the FAR
22 licensee owners down by (-1) each, including Centrepoint Group, Insignia and Ord Minnett.
The Last 12 Months
Regular readers would know, that we always recommend to look past the traditional start point for analysis, i.e. Jan 1 and July 1. That’s because we see a relatively high number of resignations at the end of each calendar and financial year, followed by a burst of new appointments.
The chart below, highlights the change over the last 12 months along with some insights to what happened in the previous 12 months.
The data shows that the adviser market is down by a net (-181) advisers. However, this holds up well to the previous 12 months of (-688), which was still reeling from the FASEA Exam.
The number of new licensees is at 166 and ceased at (-65), a net increase of 101. The previous 12 months showed a total of 142 licensees commencing with (-101) ceased, a net change of +41.
Licensee owners Sequoia had the best ‘organic’ growth at 29, followed by Shaw and Partners at 25. Insignia led the losses of (-140) (excludes any losses at Millennium 3), followed by WT Financial Group at (-63).
Last 12 Months - Adviser Fast Facts Dashboard 1
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