Financial Adviser Insights, March 14, 2024
Adviser Numbers, Reduced By (-7), Moving from 15,625 To 15,618
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Summary for the week
A slower week of financial adviser movement after a flurry of switches across licensees that occurred last week. The loss of (-7), brings the calendar YTD to just +3, after a solid start during the first few weeks of the year, we have now entered a period of decline.
Key Adviser Movements This Week:
Net change of advisers (-7)
Current number of advisers at 15,618
Net Change of +3 for Calendar 2024 YTD
Net Change Financial YTD +63
22 Licensee Owners had net gains of 28 advisers
22 Licensee Owners had net losses for (-29) advisers
2 licensees and 2 ceased
4 New entrants.
Number of advisers active this week, appointed / resigned: 68.
Growth This Week - Licensee Owners
B. Moses Investment Services had the largest gain of 7 advisers, bringing their total advisers to 10. Note: All 10 advisers are also authorised at Australia National Investment Group (Licensee Owner being Troy Daniel Mahoney).
A tail of 21 licensee owners up by net 1 including:
The two new licensees
Templestone Financial services
Fortnum
and AMP Group.
Losses This Week - Licensee Owners
Morgan Stanley down by (-4). Readers last week might recall that the advisers had moved to Shaw and Partners
4 licensee owners down by (-2) each:
Morgans Group (not related to Morgan Stanley), both advisers not showing as appointed else where to date
Politis Investments, with one adviser starting their own AFSL and the other joining a small licensee
Grimsey Wealth, both advisers not showing as being re appointed to date
A licensee that is now down to zero advisers - both advisers showing as not appointed elsewhere
A tail of 17 licensee owners down by net (-1) each including Insignia, Fitzpatricks and PSK.
Growth Over Six Months
The last six months is an interesting period to track, as it covers off the volatile period over Christmas and the new year. As mentioned above, we did see a strong start to the new year, but the last few weeks have shown a steady decline.
The chart below, by licensee owners, covers several time periods and we have filtered the ‘6 Months’ column descending from the strongest growth. Shaw and Partners are out in front at 27, followed by Centrepoint at 20 and Castleguard Trust (Lifespan) at 18. What is really interesting, is that seven of the top eight are licensee owners currently have 100 or more advisers. Growth for all advisers, over six months, was (-48).
Also of interest, is that all the licensee owners in view are showing as all ‘green’, indicating that they have had positive growth over the last year and over two years. We are well aware that growing adviser firms has been a tough task. However, some are shining through despite the difficulties. To note, over 2 years, net growth across all advisers has been negative at (-905).
Adviser Movement Across Time periods - Filtered By 6 Months Column
Dashboard 2B Of Adviser Fast Facts
SMSF Statistics - PowerPoint Deck
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The SMSF presentation is available at our newly created store page - click here for the store
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