The latest Financial Adviser data from ASIC shows that a further -41 Advisers roles were lost over the week. For the quarter, a total -83 roles have been lost and -2,242 for year to date.

ANZ banking Group represented the heaviest losses with -16 Adviser roles. AMP saw a further -6 roles lost.

SGN Financial gained five Advisers from Campaspe Financial (Part of SG Stubberfield Group). SGN Financial are -5 Advisers roles YTD. The Wealth Connection, a new licensee commenced with 3 Advisers all from Fitzpatricks Private Wealth. Synchronised and Fortnum also gained three new Advisers each.

Year to date, GWM are still showing as the largest growth licensee, however, they did gain 156 Advisers in a switch from National Australia Bank (NAB). Lifespan with a net growth of 52 continue to set the pace and Interprac close behind with 48. Sentry is on a steady growth pattern up by 32 Adviser roles.

As for losses YTD by licensee, NAB with -224 and AMP with -186 have the largest losses. At the level of the ‘Controlling entity’ (group level), AMP Group have now lost -325 Adviser roles. For context that’s close to the current number of Advisers at Merit Wealth (326 Advisers) who are the 7th largest licensee in the country. IOOF have lost -120 Advisers and NAB/MLC have lost -203.

Some upside, there are now 32 ‘Provisional Advisers, up from 28 over the previous week . These are Advisers who are currently going through the FASEA requirements to become a confirmed Adviser. The numbers are still very low in the context that -2,242 Adviser roles have been lost, but encouraging to see some new people signing up to be an Adviser.