Financial Adviser Insights To March 30, 2023
Adviser Numbers This Week Increased by +15 from 15,855 to 15,870
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Key Adviser Movements This Week:
Net Change of advisers up by +15
Net Change of +64 for 2023 YTD
27 Licensee Owners had net gains for 29 advisers
12 Licensee Owners had net losses for (-14) advisers
1 new licensee and 1 ceased
9 New Entrants*
Number of advisers active this week appointed / resigned: 66
*We will now focus on ‘New Entrants’ as opposed to Provision Advisers each week. A new entrant is defined as an adviser’s first appointment date on the ASIC Financial Adviser Register (FAR).
Summary
A net gain of 15 driven by 9 new entrants and a small number of advisers reappearing on the FAR as current, most likely due to passing the Financial (FASEA) Exam. We tend to see a surge in new entrants in the first few weeks of the Financial Exam results being released which occurred last week.
Growth This Week
MWL Group up by 2 with two former MWL advisers coming back onto the FAR after being ceased in September last year.
Mutual Trust up by 2 both being new entrants
25 licensee owners up by net 1 each, mostly driven by new entrants. Groups include Shaw and Partners, Castleguard Trust (Capstone), AAN wealth and Insignia who had a busy week, hiring 3 including 1 new entrant and 2 advisers from separate licensees
The one new licensee recommenced with the former lone adviser coming back onto the FAR.
Losses This Week
Janus Group down (-2) losing 1 adviser each from their two licensees Akambo and First Financial.
Perpetual also down by (-2)
10 licensee owners down by net (-1) each including Bombora, Fiducian, Count, Centrepoint and WT Financial Group. The lone licensee that ceased also only lost the 1 adviser.
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