Number of Advisers decreased by +2 from 16,404 to 16,406

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Key Adviser Movements This Week:

• Net Change of advisers +2

• 51 Licensee Owners had net gains for 117 advisers

• 50 Licensee Owners had net losses for (-115) advisers

• 9 new licensees commenced and (-10) ceased

• 14 Provisional Advisers (PA) commenced and 3 ceased.

Note: Our Members Lounge - Covers all movement and very detailed reports for all licensees and advisers.

Summary
A very busy week of change. After losing (-126) the previous week we are up net +2 this week. As indicated in last week’s post, many of the advisers who went off the FAR have reappeared. We still saw a lot of resignations put into the last financial year and pretty much all appointments into this financial year - hence the new financial year is showing very strong growth of 129 advisers. Last financial year is currently showing a net loss of (-2,671) or (-14.10%) growth. See image below.

Note: As a reminder, licensees have up to 30 days to report movement of advisers. Most seem to report within 7. However, we have seen many licensees, mostly small ones, being very slow to report ceased advisers.

Growth This Week
One of the strongest weeks of appointments recorded for a long while. 51 licensees owners recoding net growth of 117 advisers. This included 9 new licensees (details provided to members). Notable growth licensee owners being Count up by plus 7 including 3 advisers from Charter and starting 2 Provisional Advisers. Clime also up by 7 after their previously announced deal to buy MTIS Private Wealth being completed (we will merge the two from next week).

Diverger up by six after hiring 12 and losing 6. Four of the 12 appointments at Diverger were Provisional Advisers. There was also some movement between their The SMSF Expert and Merit Wealth licensees over the last 2 weeks. Last week Diverger was down by (-14)

A new firm commenced with 6, all advisers leaving Lonsdale (Insignia). 4 firms had net growth of plus 5 including Centrepoint picking up advisers from 4 different licensees. 4 firms up by plus 4 including sequoia and Fortnum. 5 firms up by plus 3 including Shartru Wealth and 6 firms up by plus 2 including Castleguard (Lifespan) and Evans Dixon.

A tail of 28 firms up by plus 1 each including Morgans, Fiducian and Adviceiq Partners.

The 9 new licensees accounted for 28 advisers. 7 are in our holistic Financial Planning model and 2 in the Accounting - Financial Planning model.

Losses This week
AMP Group topped the losses for the week, down (-22), followed by Insignia down (-13). MTIS down (-7) after selling and switching all advisers to Clime.

10 licensees effectively closed. This included Infinity Capital (-33), owned by Viridian who ‘switched’ most advisers into their main licensee. For the week, Viridian as a group was down (-4). MTIS as mentioned, closed with 7 advisers switching to Clime. Of the remaining 8 licensees that closed, they accounted for (-14) advisers.

Other notable losses for the week included ANZ Bank down a further (-4), Bell Financial (-2) and Ord Minnett also down (-2). A long tail this week 33 licensee owners down (-1).

Gains and Losses - Calendar YTD
As a result of the flurry of movement around the end and start of the financial year, the calendar YTD data makes for interesting reading.

Count Group have extend their growth to plus 35, Castleguard Trust (Lifespan) at 13 and Centrepoint back in the top 3 at plus 11. Sequoia worth noting at plus 10 also showing that large groups can grow.

As for the losses, Insignia after another tough week are down (-135) and AMP Group at (-72). Craigs Investment Partners now closed at (-66) and WT Financial Group (-53).

Other Details Worth Noting For This Financial Year Period
While we still expect to see some further reporting that may be backdated, the new financial year has got off to a positive start, up +129, compared to +96 for the same period last year. Losses for the Calendar year to date is also better than last year with a los of (-775) advisers versus (1,584) for corresponding period last year.

The number of new licensees at 9 for the start of the year was good at +9 but down on the same time last year which was +14. we do expect more new licensees coming on in the next few weeks of reporting. Calendar YTD the new licensees stand at 81 versus 88 for last year.

The charts below show direct activity across our business models from Jun 1 to July 6* 2021 and 2022. Losses last year were much greater at (-385) versus (-149) this year. Note: *July 6 date used today’s (July 7) data was closed off at July 6.

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