Financial Adviser Insights, Nov 16, 2023
Adviser Numbers This Week, Net Change of +18, Moving Up From 15,682 To 15,700
Click Here To Access Basic / Free Adviser Dashboard
Need More Data?
Join our Members Lounge - Click Here For Membership Information -
Enter promo code 50%MONTH1 for 50% discount on first month Selecting 'YEARLY' cost is only $950
This week saw the first double-digit increase since the end of September. Up a net 18 advisers, boosted by 9 new entrants and a low number of ceased advisers for the week.
Key Adviser Movements This Week:
Net change of advisers +18
Current number of advisers at 15,700
Net Change of (-99) for Calendar YTD
Net Change Financial YTD +140
32 Licensee Owners had net gains of 38 advisers
14 Licensee Owners had net losses for (-20) advisers, one of the lowest numbers in a while
1 New licensee and zero ceased
9 New entrants.
Number of advisers active this week, appointed / resigned: 65
Growth This Week - Licensee Owners
Lifestyle Asset Management picking up 3 advisers from Dirigere Advisory, the losses for Dirigre showed up last week
Four licensee owners up by net 2 each including:
United Super gaining 2 advisers from different licensees, with one adviser coming back after a few years out of advice
Trustee for Auriga (Capella), a recently formed licensee, gained advisers switching from Madison
Canaccord gaining 1 new entrant and an adviser from Morgan Stanley
Australian Administration Services (Link) picking up 2 advisers, one after a break from advice.
27 licensee owners up by net 1 each, including the one new licensee, Count Group, Fiducian and Castleguard (Lifespan).
Losses This Week - Licensee Owners
AMP Group down net (-3), losing 4 advisers and gaining 1 new entrant
Insignia also down (-3), losing 3 advisers, 1 adviser each from Bridges, Consultum and RI Advice
Clime Group down (-2) both advisers leaving to Capella as mentioned above
FSSSP Financial Services, (Aware Super), losing 2 advisers, neither showing as being appointed elsewhere
A short tail of just 10 licensee owners down by net 1 each including, Diverger, Fitzpatricks, Morgans and WT Financial Group.
Compare The Pair - Fortnum and Australian Unity
The announcement this week of the deal between Fortnum, AZ NGA and Australian Unity, will effectively see all of Australian Unity’s advisers come under a Fortnum AFSL. Fortnum run two AFSLs, Fortnum Private which currently has 213 advisers and Fortnum Advice which only has 10. Australian Unity has a total of 167 advisers.
We put Fortnum Private and Australian Unity (Aus Unity) side by side to compare some key data points, which are mostly created from the ASIC FAR. What is interesting, is that many of the numbers are very similar. See charts below. This is taken from Dashboard 3, Deep Dive Licensee Charts, which allows multiple licensees to be compared.
The key areas of difference is the growth YTD, Fortnum up by 2, Aus Unity are down by (-12). Aus Unity have slightly more advisers who commenced Pre 2012, but Fortnum have a higher Average Years of Experience. The percentage of advisers with a degree of some description is also very close. What each licensee authorises their advisers for the main product sets are again similar.
The data does not take into account other details such as revenues etc, but at least it does look like both businesses are a reasonable fit on the available data.
Fortnum Private and Australian Unity - Key Data Points
Have a great week and checkout the
Members Lounge for all of your data needs - Click on box below
