Financial Adviser Insights To June 15, 2023
Adviser Numbers This Week Decreased By (-15) From 15,813 To 15,798
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Key Adviser Movements This Week:
Net Change of advisers, down by (-15)
Net Change of (-5) for 2023 Calendar YTD
15 Licensee Owners had net gains for 17 advisers
20 Licensee Owners had net losses for (-33) advisers
0 New licensees and 2 ceased
1 New entrant
Number of advisers active this week, appointed / resigned: 59.
Summary
A slower week of adviser movement, with 59 advisers either resigning or being appointed. We also saw the calendar YTD growth drop into the red for the first time in 2023 at (-5). While this is disappointing, at this stage last year we were down by (-755).
Growth This Week
NTAA via SMSF Advisers Network gained 2 advisers. One from Politis and the other returning to the licensee after a break
Collins SBA up by 2, one adviser from TPT Wealth and one from Cobalt Advisers
13 licensee owners up net 1 each including Viridian, Shartru, Count Group, and Centrepoint hired two advisers who had commenced elsewhere this year and lost one adviser.
Losses This Week
MWL group down by (-8) advisers. At this stage all are showing as ceased
WT Financial Group, down by (-6). It looks like one practice has left and will soon reappear under a new licensee. Another adviser has moved to Affinia.
Alteris down by (-2) who have had a small reshuffle across their licensees.
17 licensee owners down (-1) each including Castleguard Trust (Lifespan), Diverger, Janus and Insignia who hired 3 including one new entrant and lost 4.
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Do We Have Enough Financial Advisers?
With significant announcements this week with the end goal of making sure all Australians can get access to advice, we ask whether we have enough financial advisers today.
We have analysed the number of Australians who may need advice, how many appointments this could generate, and then calculate how many appointments this would be on a per-adviser basis.
There are a couple of general assumptions in the post - Members can access the data and enter their own inputs - Dashboard 7 of Adviser Fast Facts. Click on the link below to see the post.
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