Weekly Financial Adviser Movement - Feb 17, 2022
Number of Advisers increased by +3 from 17,295 to 17,298
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New Dashboards
We have redesigned the dashboards with the goal of making it easier and quicker to view the data that you want to see. You will note that number of dashboards have been reduced.
Will be increasing the range of dashboards over the coming weeks and introducing a paid service to access the new dashboards. Non paying subscribers will have limited access to the data. Stay tuned.
One tip with the new dashboard’s – they are longer. On most screens, you will need to scroll down to see all the data.
Key Movements This Week:
Net Change of advisers +3
30 Licensee Owners had net gains for 65 advisers
37 Licensee Owners had net losses for (-60) advisers
4 new licensees commenced and (-3) closed
1 Provisional Adviser (PA) commenced.
Note: For more information on each licensee, visit the dashboards and ‘hover’ your cursor on each chart to see additional data points.
Summary
We now have two weeks of gains which is great to see. While the net growth of 3 indicates a quiet week, it was in-fact a busy and interesting week to review. More details below re growth and losses.
Growth This Week
Dashboard 1A - Licensee Owners.
Fiducian continued to sign over advisers from ‘Peoples Choice’ credit union for a net gain of 11.
PSK who now own IPAC, had a net growth of 7. Most moving across from Stature Group previously licensed under Hillross. What is interesting is that PSK commenced and still has a strong team of advisers under Charter. One to watch over the coming weeks and months.
A new licensee commenced with 5 advisers all moving away from RI Advice. Count continue their growth with a net increase of 5, coming from 4 different licensees.
Three owners had net growth of 3. Castleguard (Lifespan) claimed 3 from Millennium 3. Diverger up 3 thanks to GPS who got all 3. Clime Group also up net 3.
4 licensee owners up plus 2 including another new licensee and 18 licensee owners up plus 1 including Synchron, Macquarie, Steinhardt (Infocus) and 2 new licensees.
Losses This Week
Insignia and AMP lead the losses with (-6) each with most advisers switching to other licensees as touched on above.
Two licensees down (-4) including Fitzpatricks who lost a practice which we expect to surface as a new licensee next week.
1 licensee owner GCR down (-2), and now only has 3 advisers. 4 licensee owners down (-2) each including Evans Dixon which has issues with their Dixon Superannuation business which went into administration. A long list of 27 licensee owners losing (-1) each.
Of the 3 licensees that closed (down to zero advisers), 1 provided holistic advice the other 2 both offering limited advice.
Year To Date Data
See dashboard 2
For licensee owners that have 20 or more advisers, Count lead the way with 19 followed by Castleguard Trust (Lifespan) with 12 and Industry Super Holdings up by 11.
There are 30 licensee owners who have 20 more advisers with positive net growth. A total net growth of 108 advisers between them.
As for losses, Insignia lead the way down (-38), AIA Group are down (-9) and WT Financial (Wealth Today and Sentry) down (-8).
There are 38 licensee owners with 20 or more current advisers with losses. In total the adviser losses are (-139).
Dashboard 3 which highlights peer groups shows that the largest peer group – Financial Planning (offer holistic advice), is showing net zero growth / losses for the year. This indicates that losses have certainly stabilised for this peer group post FASEA.
By putting the start date as of jan 1, 2021, the losses are at (-1,676). However, 145 new licensees commenced and 54 closed for this peer group.
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Have a great week
