Financial Adviser Market Insights, Aug 15, 2024
Adviser Numbers This Week Increased by +13, Moving From 15,497 To 15,510
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Weekly Summary
The net number of advisers increased by 13, taking the total numbers back up above 15,500 this week, to 15,510. The increase was once again attributed to new entrants. No new or ceased licensees this week, a rare event.
Please note: After today and through to September 9 - weekly updates will be completed by close of business each Monday.
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Key Adviser Movements This Week:
Net change of advisers plus 13
Current number of advisers at 15,510
Net Change Calendar 2024 YTD (-110)
Net Change Financial YTD +168
25 Licensee Owners had net gains of 50 advisers
25 Licensee Owners had net losses for (-28) advisers
No new licensees commenced and none ceased
12 New entrants
Number of advisers active this week, appointed / resigned: 77.
Growth This Week - Licensee Owners
Lifespan up by net five, with two joining from Morgans, two also from Madison (Infocus) and one from Synchron (WT Financial Group)
Four licensee owners up by net three including:
WT Financial Group which included two new entrants and one from AMP
Morgans with one new entrant and one from Bell Group
Fitzpatricks also with two new entrants and one returning to advice after a break
Finchley and Kent continue to build. However, all three advisers remain authorised at Havana
Six licensee owners up by net two each including, Sequoia Group, Stanford Brown Group and Shaw and Partners.
A tail of 14 licensee owners up by net one each including; PSK Group, Guideway and FMD Financial.
Losses This Week - Licensee Owners
Three licensee owners down by net two each including Bell Group, Centrepoint and Infocus.
A long tail of 22 licensee owners down by net one each including; Fortnum, Macquarie and Canaccord.
New Licensees - Growth Continues?
The initial rush to start new licensees at the beginning of this financial year has ended, with the current count at zero. Comparing this data to the same period last year, the number of new licensees is similar: 22 this year compared to 24 last year. However, the number that have ceased operations is higher this year at 11, compared to only 3 last year.
This increase may be expected as many newer licensees are merging or being acquired by similar companies. Regardless, the rise in the number ceasing operations will be important to monitor throughout the year.
Financial YTD data compared to the same period in FY 2023/24.
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