Financial Adviser Insights, Nov 23, 2023
Adviser Numbers This Week, Net Change of (-12), Moving Down From 15,700 To 15,688
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The adviser count experienced a notable dip, influenced primarily by the Macquarie Group's releasing 9 advisers. This week also marked a low influx of new entrants, with only 2 joining the industry – one of the smallest numbers recorded this year.
Key Adviser Movements This Week:
Net change of advisers (-12)
Current number of advisers at 15,688
Net Change of (-111) for Calendar YTD
Net Change Financial YTD +129
24 Licensee Owners had net gains of 33 advisers
23 Licensee Owners had net losses for (-44) advisers
3 New licensee and 2 ceased
2 New entrants.
Number of advisers active this week, appointed / resigned: 75
Growth This Week - Licensee Owners
Centrepoint picked up 3 advisers at Alliance Wealth. Notably, 2 advisers were onboarded from a small 'Micro AFSL', Bough Financial, which has now ceased operations (down to zero advisers)
6 licensee owners were up by 2 each including:
WT Financial Group picking up 1 adviser at Sentry and Synchron, both advisers from different licensees
Spark Financial Group, picking up both advisers from Australian Investment and Insurance Group
Industry Super Holdings who picked up 3 advisers and lost 1
Diverger with one each at GPS Wealth and Paragem
Sentinel Wealth, who picked up 2 advisers from different licensees
A new licensee with advisers departing Reedy Capital
A tail of 17 licensee owners up net 1 each including Clime Group, Australian Retirement Trust, AMP Group who picked up 2 advisers from Capstone and lost 1 adviser. The remaining 2 new licensees started with one adviser each.
Losses This Week - Licensee Owners
Macquarie Group down by (-9). At the licensee level, Macquarie bank and Macquarie Equities lost 7 advisers each. However, most of the advisers were authorised at both licensees. A breakdown can be found at Dashboard 1b of Adviser Fast facts
Capstone down by (-4), bringing the losses to (-13) for the month and (-17) for the last 3 months. See dashboard 2B Adviser Fast Facts
Insignia down by (-3), all three are showing as ceased and are from 3 different licensees owned by Insignia
Mercer also down (-3), all advisers yet to be appointed elsewhere
6 licensee owners down (-2) each including Viridian, Picture Wealth and sequoia
A tail of 12 licensee owners down by (-1) each including Castleguard Trust (Lifespan), Shaw and Partners and Count Group.
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