Weekly Financial Adviser Movement - Jan 27, 2022
Number of Advisers decreased by (-20) from 17,621 to 17,601
Click Here To Access The Detailed Adviser Dashboards
New Dashboards
We no longer provide detailed information of small licensees each week for free on the dashboards. We have all their details and happy to share privately.
Key Movements This Week:
Net Change of advisers (-20)
24 Licensee Owners had net gains for 37 advisers
34 Licensee Owners had net losses for (-56) advisers
6 new licensees commenced and (-7) closed
13 Provisional Advisers (PAs) commenced and (-1) ceased.
Note: For more information visit the dashboards and ‘hover’ your cursor on each chart to see additional data points.
Summary
The net loss this week of (-20), took the net number of advisers down to 17,601. We are still expecting this number to reduce further. We suspect that some major licensees are yet to fully report their adviser movement with regards to FASEA Exam requirements.
We also believe that many advisers that are to be taken off the ASIC FAR, work in small licensees that will also be closed. Potentially a process that has slowed the reporting to ASIC, along with holiday and issues caused by Covid.
On a positive note, the number of new Provisional Advisers commencing at 13 was pleasing to see.
Growth This Week
Dashboard 1B - Licensee Owners. AMP Group hold top spot for the week with net growth of 5, with 4 at AMP Financial Planning and 1 at Charter. All but one were new Provisional Advisers.
A new firm commenced (not shown) with 4 advisers, moving away from Sentry. 2 firms grew by three advisers including another new licensee (not shown) with advisers moving away from Synchron.
Castleguard (Lifespan) gained a 2 advisers from Hillross and another new licensee commenced with 2 advisers moving away from Insignia Group (IOOF).
18 licensee owners had a net gain of 1 each including Fortnum and APT Wealth.
Losses This Week
Findex down by (-7), none have appeared elsewhere. Australian Advisory Pty Ltd lost 5, all via their licensee Life Plan.
NTAA who own SMSF Advisers Network down (-4) and 4 groups down (-3) including two small licensees that went down to zero advisers.
PSK who now own Ipac down (-2) and 26 licensee owners down (-1).
Year To Date Data
See dashboard 2 – As we get to the end of the first month, AMP Group, Castleguard. Centrepoint and Count head up the growth with +3 each. This is for licensee owners who have 50 or more advisers. ASVW which have 26 advisers have grown by 6 for the year.
Insignia are down by (-19) for the year, followed by WT financial Group (which includes Sentry) and Findex, both down by (-8).
As for new licensees, the Financial Planning peer groups has already opened 12 and 2 closed. The Accounting – Limited Advice peer group (offer mostly SMSF Advice only) have already closed 6 licensees and we expect the losses to grow significantly as reporting catches up.
Are You Looking For Advisers, Practice and Licensee Owners?
We continue to expand and refine out database to help you ‘target your market’ for finding advisers, practice owners and licensees that you need to grow your business.
For more information - Click Here
Have a great week
