Adviser Numbers This Week, Net Change of +1 Moving Up From 15,700 to 15,701

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The number of advisers increased by 1. However, it was a very busy week with 115 advisers involved with movement on the ASIC FAR.

Key Adviser Movements This Week:

• Net Change of advisers +1

• Current number of advisers at 15,701

• Net Change of (-98) for Calendar YTD

• Net Change new Financial YTD +135

• 39 Licensee Owners had net gains for 63 advisers

• 37 Licensee Owners had net losses for (-65) advisers

• 4 New licensees and 1 ceased

• 6 New entrants

• Number of advisers active this week, appointed / resigned: 115.

Growth This Week - Licensee Owners
The growth for many licensees this week was dominated by appointing advisers from the licensee Nextgen Financial Group, owned by The Financial Link Group. Nextgen lost (-13) advisers this week and (-10) last week.

• LFG Financial Services, up by net 6 advisers, all advisers switching across from Nextgen

• Troy Mahoney, (Australia National Investment Group) up by 5 advisers. Four of the advisers from KDM Financial and the other from Picture Wealth Group (Insight Investment Services).

• Australian Mortgage and Financial Advisers (AMFA), also up by 5 and all advisers witching across from Nextgen

• Sequoia Group up by net 3 advisers, the 3 advisers moving across from different licensees to join Inerprac.

• Nine licensee owners were up by net 2 including, Templestone Financial, NTAA and Castleguard Trust (Lifespan). Two new licensees also commenced with 2 advisers each.

• A long tail of 26 licensee owners up by net 1 each, including Count Group gained one new adviser and switched 4 advisers from their Affinia licensee to Count Financial. Diverger also up by 1 and the remaining 2 new licensees commenced with 1 adviser each.

Losses This Week - Licensee Owners

• As mentioned above, Financial Link Group via Nextgen are down by (-13). All but 2 of the advisers have been appointed elsewhere. Nextgen now only have 20 advisers

• AMP Group down by (-5), with most losses moving to PSK

• Mercer also down by (-5), none of the advisers are showing as being appointed elsewhere

• KDM Financial down by (-4) as mentioned above, the advisers switching to Australia National Investment Group.

• Picture Wealth down by (-3), with 2 advisers joining a small licensee and the other moving to Interprac

• 3 licensee owners down by (-2) each including AAN Wealh

• 29 Licensee owners down by (-1) each including, Centrepoint, Guideway, Macquarie Group, and Viridian.

Financial Adviser Gross Revenue 2022/23
This week we have worked through the latest ASX announcements of eight major advice firms. We have used the data to show what the gross revenue has been for the financial year.

All the details available via the link below

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