Financial Adviser Insights To May 18, 2023
Adviser Numbers This Week Increased By +1 From 15,845 to 15,846
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Key Adviser Movements This Week:
Net Change of advisers up by +1
Net Change of +43 for 2023 Calendar YTD
26 Licensee Owners had net gains for 29 advisers
22 Licensee Owners had net losses for (-28) advisers
4 New licensees and 2 ceased
5 New entrants
Number of advisers active this week appointed / resigned: 66.
Summary
A small net gain of 1 adviser despite 5 new entrants. The net gain YTD remained the same due to some backdating of movements.
Growth This Week
Sequoia through its Interprac licensee gained 3 advisers with 2 advisers being ex Olive Financial Markets that has now closed.
Crown Wealth Group up by 2 with advisers coming from 2 different licensees
24 licensee owners up by net 1 adviser each including Steinhardt (Infocus), Perpetual and Centrepoint. All 4 new licensees started with just the one adviser each.
Losses This Week
Energy Industries Superannuation down by (-6) and down to zero advisers. This occurred after merging with United Super (Cbus). At this stage all 6 are showing as ceased
Collins SBA Services down (-2)
20 licensee owners down by (-1) each including AMP group, Count Group, Fortnum and Ord Minnett
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Share Price Movement - Wealth Listed Firms
In a presentation at this week’s Financial Newswire ‘Platforms, Wraps and Adviser Tech’ conference, we have presented an overview of the wealth market. We took a high level view working off a variety of businesses engaged in wealth across a series of sectors.
The chart below is one of many slides from the presentation. It highlights the change in stock price value assuming you invested $1,000 over 5 years.
Value of $1,000 invested May 11, 2018 to May 9, 2023 (Not including Dividends)
As you can see, the firms offering platforms as their main offer beat the ASX 200. Whereas Fund Managers and Large All Wealth firms struggled.
We have broken these down individual businesses and will make them available.
*The ASX shown is a combination of the ASX 200 and the ASX Financials. Individually, the ASX 200 did better at $1,185 and the ASX Financial at $990. This highlights that the broader ASX market has performed better than the financials.
Why has the *platform market performed so well? There are a combination of factors, from large wealth firms that dominated the advice, funds and platform market that have really struggled post the Royal Commission. At the same time, advisers needed new solutions to keep costs down and improve efficiency; the newer platforms appeared to be more nimble and help solve these solutions ahead of their larger platform competitors.
Note: The share prices were taken from the ASX. The values for each grouping is the ‘Median’ of the individual firms in each group.
*Platform grouping being Praemium, Netwealth and Hub 24.
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