Number of Advisers decreased by (-33) from 17,144 to 17,111

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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 (-33)

• 21 Licensee Owners had net gains for 24 advisers

• 41 Licensee Owners had net losses for (-57) advisers

• 2 new licensees commenced and (-12) ceased.

• Zero Provisional Advisers (PA) commenced and zero ceased.

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
A very similar week to last week, dominated by many licensees effectively closing, down to zero advisers. This week 12 licensees closed and it was 14 last week. A total of 26 in two weeks.

We did note that in a ‘Senate Estimates Committee’ with a written response of Feb 25, 2022, that ASIC are completing a full review of the ASIC Financial Adviser Register. This is to ensue those advisers who have not passed the FASEA Exam are removed. We suspect that that many small licensees have not reported correctly (or not at all) and may well now be caught up in the review. Hence the large number of licensees being reduced to zero advisers. Again this week, we saw more advisers being ceased with their exit date backdated into 2021.

It was another quiet week for actual switches - only 7 advisers ceased and recommenced in the week.

Growth This Week
Australian Retirement Trust, the new name for the combined Sunsuper and Qsuper increased advisers by a net 3, all under the Sunsuper licensee. Capstone up by 2, taking 1 adviser away from Count and reappointing a former adviser who had a break.

A tail of 19 licensee owners up net 1 each including Shartru, Castleguard (Lifespan), ASVW Holdings and two new licensees starting with 1 adviser each.

Losses This week
The 12 licensee closures accounted for 17 adviser losses led by RSM Corporate, down (-5). Another licensee lost 2 and 10 at 1 adviser each.

AIA, Centrepoint and Pitcher Partners Brisbane all down by (-3) and none of the advisers commenced elsewhere in the week.

6 licensee owners down (-2) including Count, Fiducian, WT Financial and Insignia. A long tail of 31 licensee owners with net loss of (-1) each including Fitzpatricks, Fortnum, and Telstra Super.

Year To Date Movement
Not much change this week - we have included a snapshot below of the Net Change by licensee owners below. This is from the Fast Facts - Dashboard 2 - All details and more available to our Members. Count lead the growth sector while Insignia has the highest losses YTD.

Have a great week