Adviser Numbers This Week Increased By +3, From 15,857 to 15,860

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Key Adviser Movements This Week:

• Net Change of advisers up by +3

• Net Change of +59 for 2023 Calendar YTD

• 24 Licensee Owners had net gains for 27 advisers

• 21 Licensee Owners had net losses for (-27) advisers

• 1 new licensee and 4 ceased

• 8 New Entrants

• Number of advisers active this week appointed / resigned: 63

Summary
Please note: This week ASIC had an ‘outage’ and the data did not come online until Friday afternoon as opposed to the usual Thursday mornings.

Overall a quiet week with a slight uptick in advisers of +3. We did see 8 new entrants come onto the FAR which was good to see. For a change, we saw more licensees close than open. See more on licensees later in this post.

Growth This Week

• Three licensee owners had net growth of 2 advisers each including Prosperitas Partners (Inner Wealth) with 2 advisers moving away from Vinrac.

• Diverger also up by 2 advisers, picking up 3 advisers, 2 being new entrants and losing 1 adviser.

• A new licensee commenced with 2 advisers with both advisers coming from Infocus.

• 21 licensee owners up by 1 each including Spark partnership, Ord Minnett, Bell Financial Group and AAN Wealth.

Losses This Week

• Mercer was down by (-4) and all 4 advisers have not been appointed elsewhere.

• 2 Licensees owners closed, including AustralianSuper both losing (-2) advisers each. AustralianSuper do offer advice services which are normally outsourced to Industry Fund Services (IFS).

• Financial Professionals Group (AFSL Investment Professionals) also down by (-2)

• 17 licensee owners down by (-1) each including AMP Group, Centrepoint, Fiducian, Insignia and Morgans.

How Many Licensees And The Growth?
One of the most common questions I get is how many licensees are there? Followed by, what has been the growth? It is a bit confusing as the market as a whole has dropped…. but there is growth in critical sectors.

The charts below show total change in licensee since start date of Jan 1, 2021 to April 28, 2023. It shows that the number of licensees dropped from 2,154 (left chart) to 1,827 to today. Adviser numbers dropped from 20,874 to 16,047*

When we filter out licensees belonging to our Accounting Limited Advice, Super Funds and ‘other’ models, i.e. business models not normally providing holistic advice, the numbers change dramatically.

There is still a drop in advisers from 17,499 to 14,519. However, the number of licensees has jumped by 109 from 1,547 to 1,656. And, this jump is all in the small 1 - 4 adviser band which has grown by 134.

In terms of the make up, when we add up the percentage of advisers in licensees of less 20, in 2021 it was 29.1%, now it is at 35.8%.

*Adviser numbers don’t match exact actual advisers as some advisers are authorised at more than one licensee which falls under different groupings.

Super Funds By Fund Type Analysis
We have updated the ‘Super Funds - Fund Level’ dashboards at the Members Lounge. We use primarly the APRA Data and add in SMSF data from the ATO, ABS population stats and our own Adviser stats to enrich the data. We also add in a range of calculations and most dashboards are dynamic, allowing users to see the data that best suits their needs

Click Here For Overview Of The Super Funds Analysis

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