Weekly Financial Adviser Movement, August 4, 2022
Number of Advisers decreased by (-24) from 16,432 to 16,408
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Key Adviser Movements This Week:
Net Change of advisers (-24)
34 Licensee Owners had net gains for 61 advisers
40 Licensee Owners had net losses for (-86) advisers
2 new licensees commenced and (-4) ceased
6 Provisional Advisers (PA) commenced and (-1) ceased.
Note: Our Members Lounge - Covers all movement and very detailed reports for all licensees and advisers.
Summary
A busy week with significant movement across several licensees. Also, the first big negative week for the new financial year. However, the financial year to date remains positive at +152, while calendar YTD is negative (-771).
Growth This Week
Bombora Advice up by 10, most being ANZ advisers moving to Zurich. It is our understanding that Bombora will only hold the ex ANZ advisers for a short period of time, until Zurich finalise their own licensee arrangements. Australian Unity, up 9 with all advisers moving across from Millennium 3, (ABFS Life Practice).
Two licensees up plus 4, one being a new licensee (details given to members) and Fortnum who gained 2 advisers from Intas (now down to zero advisers) and 1 each from RSM and Aware Super. 4 licensee owners up 2 including Lionsgate and the Highfield Group. Thereafter, a tail of 26 licensee owners up by 1 including Viridian, Oreana, Shaw and Partners and Minchin Moore.
Losses This week
ANZ down (-12) with most moving across with Zurich to Bombora, Insignia down (-10) putting on 2 and losing 12 advisers (most moving to Australian Unity as mentioned above via Millennium 3). AMP down (-7) putting on 1 adviser and losing 8. Of the 8 losses, 2 have been appointed at other licensees. Diverger down (-6), this was after internal switching of 4 advisers from The SMSF Expert to Merit. GPS lost 3 advisers, The SMSF Expert lost a further 2 and Merit 1.
Intas, now closed, down (-3) and 10 licensee owners down (-2) including Clime, Findex. Jason Valentine (Avana Financial Solutions) and Ord Minnett. A tail of 24 owners down (-1) including Capstone, Centrepoint and Fiducian.
Gains and Losses - Last 2 Months At Business Model Level
Last week we looked at winners and losers at a licensee owner level over the financial year period. This week we look at the Business Model level. The date range is from June 1, 2022 to Aug 4, 2022. The net losses are at (-137). This highlights how large the losses were at the end on of the financial year given that we are now positive 152 since July 1.
The greatest losses are with the Financial Planning model at (-75). In percentage terms, the greatest loss is with the Accounting - Limited Advice model at (-4.95%). 26 new licensees have commenced and 35 closed. However, at the Financial Planning level 20 have commenced and 12 have closed.
Dashboard 3 - Advisers Fast Fact series of dashboards.
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