Financial Adviser Insights, May 16, 2024
Adviser Numbers This week - Increased by +19, From 15,611 TO 15,630
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Summary For The Week
Adviser numbers for the calendar year are ‘back in black’ after the weekly numbers increased by 19. The numbers were boosted by 21 new entrants. The number of new licensees versus ceased licensees is now very close YTD with 43 new and (-39) ceased.
Key Adviser Movements This Week:
Net change of advisers +19
Current number of advisers at 15,630
Net Change Calendar 2024 YTD +15
Net Change Financial YTD +75
37 Licensee Owners had net gains of 45 advisers
23 Licensee Owners had net losses for (-25) advisers
One licensee commenced, one recommenced and four ceased.
21 New entrants
Number of advisers active this week, appointed / resigned: 70.
Growth This Week - Licensee Owners
AMP Group increased by four, which was boosted by three new entrants, two advisers from other licensees and losing one adviser who has not been appointed elsewhere to date.
Five licensee owners up by net two:
WT Financial Group also boosted with new entrants with two joining. Also gained one adviser from Fiducian and lost one adviser who has not been appointed elsewhere to date
Philborne Pty Ltd (Dirigere Advisory) picking up two advisers from Four Points Financial Services
NAB Bank Group picking one adviser at JBWere and the other at NAB Bank, both being new entrants
Insignia Group picking up one adviser each at Bridges, with the adviser coming back after a break and another at RI Advice with the adviser switching from Findex
AVANT Group Holding, restarting after going to zero advisers in April. One of the advisers coming back into advice after leaving the FAR in late 2018.
A tail of 31 licensee owners up by net one each including; Macquarie Group, Findex and Centrepoint Group.
Losses This Week - Licensee Owners
David Meek (Four Points) losing two advisers and moving to zero - both advisers moving to Philborne as mentioned above
Sequoia also down by two, one adviser joining Alpine Financial, the other yet to be appointed elsewhere
21 licensee owners down by one including Canaccord, Capstone, Clime, Count and the three remaining licensees that have now ceased (moved to zero advisers).
Financial Adviser Landscape - Presentation - Free Download
Last week, I presented at the FNW ‘Advice, Wealth and Super Rewired’ conference. Below, you can access the presentation for free. There are a number of charts that cover:
Financial Adviser Movement back to 2017
Calendar YTD movement including most growth / the least growth firms
Share price movement over five years of ASX listed firms associated with financial planning / wealth
The growth and impact of Micro AFSLs
New entrants - year by year
Gross revenue of advisers
Adviser opportunities - Growth of super and much more
To Download - simply click on the image below
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