Financial Adviser Market Insights, Nov 28, 2024
Adviser Numbers Increased By 5, Moving From 15,509 To 15,514
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Weekly Summary
The number of advisers moved up by five, driven by another week of eight new entrants, that’s now three weeks in a row. Only the one new licensee but three ceased, making it 10 ceased over the last two weeks.
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Key Adviser Movements This Week:
Net change of advisers +5
Current number of advisers at 15,514
Net Change Calendar 2024 YTD (-111)
Net Change Financial YTD +171
25 Licensee Owners had net gains of 39 advisers
24 Licensee Owners had net losses for (-35) advisers
1 new licensee commenced and three ceased
8 New entrants
Number of advisers active this week, appointed / resigned: 70.
Growth This Week - Licensee Owners
Merchant Wealth Partners (MBS Advice Licence Pty Ltd) up by five, with four advisers moving across from Bobora and hired one new entrant
Three licensees owners up by three:
Phillip Thompson (Skye Money), all three advisers being new entrants
Oreana gaining all three from Madison financial Group, owned by Infocus
FSSSP (Aware Super) with all coming from different licensees, two of which are back after a short break of being ceased on the FAR
Four licensee owners up by 2:
Troy Mahoney (Australia National Investment Group) with one adviser moving across from Wealth Trail and the other from Smartmove Advice.
Rhombus through RI Advice picking up two advisers from Infocus.
Vinarc with both advisers coming across from Momentum Wealth Management
Caresuper Advice with advisers from Aware Super and Industry Fund Services.
17 licensee owners up by net one each including Lifespan, Janus Financial, AMP Group appointing three, including two new entrants and losing two. The new licensee commenced with one adviser.
Losses This Week - Licensee Owners
Capstone Financial down by five and none currently showing as being appointed elsewhere
Bombora down by three - with four advisers moving to Merchant Wealth and gaining one back from Merchant Wealth
Infocus also down by three, with the advisers moving to Oreana (the two lost to Rhombus were recorded as losses last week).
Three licensee owners down by two:
Batholomew Ryan (Oakview Financial), both showing as not appointed elsewhere
Insignia Group with both advisers not appointed elsewhere to date
WT Financial with one adviser commencing their own licensee and one not showing as appointed elsewhere.
A tail of 18 licensee owners down by one each including Count, Sequoia and CBA Group. All three ceased licensees were single adviser losses.
Superannuation Data By Fund Type - Dashboards and Blog Posts Updated
Are Retail Funds fighting back? The data indicates that Retail funds have put several solid quarters together with better returns and also improving net contributions. The data was released this week by APRA and we have updated our dashboards and blog post. See below. Note some SMSF data also included.
SMSF Data - To September 2024
The ATO released its quarterly statistics for SMSF funds through to September 2024. The data highlights quite a few records in terms of gross and net assets, average balances and opportunities for advisers. Click below to see more.
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