Financial Adviser Insights, July 11, 2024
Adviser Numbers This week - Increased by +39, Moving From 15,430 To 15,469
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Weekly Summary
As anticipated, there was an increase in the number of advisers this week. Many of these advisers had ceased in the previous financial year and "switched" to their new licensee, at the beginning of this financial year.
More losses were reported back into June, bringing the total losses for the previous financial year to (-211).
It was another productive week for new entrants, with 21 new advisers registered, bringing the total to 41 for the beginning of July. I presume that there is some advantage in starting new advisers after June 30.
We have compiled a concise PowerPoint presentation summarising the previous financial year. This presentation is available at our store , free of charge to all readers - More details below
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Key Adviser Movements This Week:
Net change of advisers +39
Current number of advisers at 15,469
Net Change Calendar 2024 YTD (-148)
Net Change THIS NEW Financial YTD +121
Net Change LAST Financial Year 2023/24 (-211)
39 Licensee Owners had net gains of 54 advisers
12 Licensee Owners had net losses for (-13) advisers
2 new licensees commenced and (-1) ceased
21 New entrants
Number of advisers active this week, appointed / resigned: 74 (last week it was 246).
Growth This Week - Licensee Owners
Note: Members can see all the advisers by name and licensee at Adviser Fast Facts
Dashboard 3 - Weekly Change By Adviser Details
Insignia Group up by net seven advisers. Five are new entrants. One adviser switching across from Alliance Wealth (Centrepoint) and the other switching internally within Insignia after a short break
AvalonFS up by six. However, all six ceased in late June (at AvalonFS) and reappointed in the first week of July
Four licensee owners up by two:
A new licensee commenced with advisers previously at Advice Evolution
Pitcher Partners Brisbane with both being new entrants
Philborne Pty Ltd (Dirigere Advisory) - With one adviser from Zebra Financial Services and another from Fortnum
Bell Financial with both being new entrants
A long tail of 33 licensee owners up by net one including - Fortnum, Centrepoint, Capstone and the remaining new licensee.
Losses This Week - Licensee Owners
AMP Group down by two advisers, with three ceasing (backdated into June), and one commencing who was previously at Godfrey Pembroke
A short tail of 11 licensee owners down by net one including Findex Group, Infocus, Morgan Stanley and the one licensee that closed.
Financial Adviser Movement - Financial Year 2023/24 - Free PowerPoint Style Presentation
The presentation is now available at our store.
Key data includes:
Net movement of advisers
Net movement of advisers by business models
Most and least growth by licensee owners
Number of advisers ceased
Number of new entrants
Change in the composition of licensees - mostly driven by new ‘Micro’ AFSLs.
All the data and charts were extracted from our main dashboards - Adviser Fast Facts and Licensee Deep Dive. The dashboards are available to our members. Members can customise their own charts.
Click here To Access the Presentation
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