This week’s analysis of the ASIC Financial Adviser Register (FAR), shows a decrease of (-43) Adviser Roles moving from a total of 20,617 to 20,574

The number of actual Advisers dropped by (-40) from 20,241 to 22,201

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(See Dashboard 17 for more information to the variation between Adviser Roles and Actual Advisers)

For the week 46 Adviser roles were appointed, only 1 being a ‘new’ Provisional Adviser. 89 Roles ‘resigned’ to give the net total of (-43).

Gains For The Week
32 licensees made net Adviser role gains of 38. Leading the way was Barclay Wells Ltd gaining 4 Advisers. None of the 4 appear to have previous experience with other licensees. 3 licensees gained 2 Advisers each including Mandaly Wealth with both of their Advisers coming from SMSF Advisers Network. 28 licensees made a net gain of 1 Adviser role each.

No new licensees were established this week - a rare event.

To negate the effect of switching Advisers across co-owned licensees. Dashboard 1B has been added which highlights movement by ‘Licensee Owners’ . This shows that 28 Licensee Owners made net gains for a total 34 Adviser roles.

Losses For The Week
47 licensees had net Adviser losses for a total of (-81) Adviser roles. Bridges (IOOF) down (-15) and GWM (MLC) down (-7).

At the Licensee Owner level, 39 Licensee Owners made net losses for a total of (-77) Adviser roles. 100F were down (-17) and MLC Group at (-8).

A big week for the closure of licensees (advisers numbers reduced to zero) with 8 closing for the loss of (-15) Adviser roles. Equity Trustees down (-5) the largest loss. 6 of the remaining 7 closed licensees were all associated with accounting firms. It will be interesting to see how many of these small accounting based licensees will remain post FASEA Exam requirements as their numbers are reducing each week. It could lead to opportunities for established Advisers to form new relationships with accountants who are calling time on their short financial advice career.

A quick look at the Calendar YTD chart on Dashboard 1B shows both IOOF and MLC Groups down (-105) Adviser roles each, both ahead of AMP Group who are down (-95).

Licensee (Dealer Group) Rating System

Checkout Dashboard 20A - Recently added dashboard that helps users to identify licensees that rank highest for a range of attributes including: Degree qualifications, membership of different associations and gender diversity.

The dashboard scoring system is interactive and will help both Advisers and licensees staff to better understand key strengths and weaknesses among peers.

Click to Access The Adviser Dashboards