Financial Adviser Market Insights, Jan 30, 2025
Adviser Numbers Increased By 15 For The Week, Moving From 15,516 To 15,531
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Another solid week with net growth of 15 advisers, driven again by new entrants of 12 for the week. The calendar year is now showing net growth of +54.
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Key Adviser Movements For This Period
Net change of advisers +15
Current number of advisers at 15,531
Net Change Calendar 2024 (-146)
Net Change Calendar 2025 YTD +54
Net Change Financial YTD +189
27 Licensee Owners had net gains of 59 advisers
21 Licensee Owners had net losses for (-35) advisers
2 new licensees commenced and 2 ceased
12 New entrants
Number of advisers active in this period, appointed / resigned: 96.
Growth - Licensee Owners
Endeavor Asset Management (EAM) up by net 24, taking their number of advisers to 26. Note: 23 of the advisers are still currently authorised at Wealth Trail which appears to have a common ownership link with EAM.
Three licensees owners up by net three
Spark Partnership Group, with two advisers from different licensees and one coming back after a break from advice
Entireti with two new entrants and one adviser coming back after a short break
Count Limited with Paragem appointing one new entrant, GPS Wealth hiring one new entrant and one adviser from Anova Advice Group
Three licensee owners up by net two each
SGN Financial with one adviser from Visis and one coming back after a break
Picture Wealth Group with one adviser from Aware Super and another coming back after a break since 2020
Koda Capital with one new entrant and adviser coming back after last being on the ASIC FAR in 2020
A tail of 20 licensee owners up by net one each including Lifespan, Insignia and Fiducian. Both new licensees ommenced with one adviser each.
Losses - Licensee Owners
Otwo Burswood (Mount Partners) - down by net 14. As noted over the last two weeks, advisers from Mont Partners were recently also authorised at Gallagher Benefits Group. None of the 14 are showing as being ceased.
Sequoia down by net 2, both advisers ceased at Interprac and not showing as being appointed elsewhere
19 licensee owners down by net one each including Bombora, Oracle Investment Group and the two licensees that ceased.
Where Are They Now?
We often get asked “Where do advisers move to?”, especially in regard to advisers leaving larger advice businesses. The first chart below is a snippet from Dashboard 6, of Adviser Fast Facts. It shows the movement of advisers over the period Jan 1, 2024 to Jan 30, 2025.
The table highlights that the resignations ‘Res - Adv’ (resigned and no longer at the firm) were greater than the appointments (Appts - Adv), except for Centrepoint.
*Note: Data for Entireti includes that of the AMP AFSLs, that were purchased in late 2024.
*Current Top Five - Showing key adviser movement from Jan 1, 2024 to Jan 30 2025.
The table below shows that for Entireti, WT Financial and Rhombus, most of their adviser losses are still current at alternative licensees. The average of all the firms is 51% (raw average is 54% not shown).
For Count 41% and Centrepoint, 35% of their advisers are still current, indicating that the majority of their losses are advisers who retired / no longer practising. Many of the losses at Count are from their Merit Wealth AFSL, and most of its advisers only provide restricted SMSF advice.
The largest portion of advisers that are still current are now at small licensees of less than 20 advisers, often referred to as self-licensed. The average of the firms is at 40%, the raw average is 43% (not shown). In some instances, the advisers will maintain services with the firm they left.
Adviser resignations and firms by size they are now authorised at.
Note: The data above taken from Dashboard 8 - Advisers Switched Out - Their New Licensees, from Adviser Fast Facts. Members can access this data and break down the details by licensee and individual advisers.