Weekly Financial Adviser Movement - April 14, 2022
Number of Advisers decreased by (-29) from 17,173 to 17,144
Click Here To Access Basic / Free Adviser Dashboard
New Dashboards For Members
We have now introduced new dashboards along with Adviser and AFSL Databases that are available to Wealth Data Members - Click Here For Membership Information - Information includes short videos highlighting the range of Adviser and Licensee Dashboards and how to use the Databases at the Members Lounge
We now only have limited ‘free’ data on our website.
Key Movements This Week:
Net Change of advisers (-29)
22 Licensee Owners had net gains for 25 advisers
39 Licensee Owners had net losses for (-54) advisers
Zero new licensees commenced and (-14) ceased.
7 Provisional Advisers (PA) commenced.
Note: Our Members Lounge - Includes a dashboard that shows by name, each adviser joining, switching and leaving a licensee for the past week - Simply sign in, click on the Licensee Deep Dive Workbook - Dashboard 7, Weekly Change Adviser Names.
Summary Only this week due to the Easter Break
This week’s data was dominated by the large number of licensees closing (down to zero advisers). 14 closed for the loss of 17 advisers. 10 of these licensees belonged in the Accounting - Limited advice peer group. We also noted that 10 adviser ‘resignations’ had been backdated to dec 2021. This indicates that many small licensees are still coming to terms with complying with ASIC requirements for updating the FAR for their adviser movements.
For the first time in a very long time, no new licensees were established this week.
Growth This Week
Sequoia was the only licensee owner to have growth of more than net 1 by gaining 4 advisers with 3 advisers coming across from Consultum.
21 licensees had net growth of plus 1 including Count, AMP Group and Perpetual.
Note: You will see that on our ‘Fast Facts’ - Dashboard 1B, By Licensee - Ord Minnett is showing strong growth. However, this is only due to authorising existing advisers within Ord Group to operate under both licensees that it owns.
Losses This week
Bannister Consulting (Sira Group), down net (-6) - None of the Advisers have been reappointed at this stage. Insignia down a net (-4) and YOC Holdings down (-3) and to zero advisers.
5 Groups down (-2) including Centrepoint and WT Financial Group. A long tail of 31 licensee owners down (-1) including 12 licensees that went down from 1 to Zero.
Financial Adviser and Licensee Star Ratings
This week we relaunched our our Star Ratings including an additional Dashboard 5B in our Licensee Deep Dive Dashboard series.
Below is a blog post that provides more information - click link below for more information.
Have a great week and we will return next week with our regular update.
