A total of -28 Adviser roles were lost. Was is surprising is that quarter to date, the number of Adviser roles have increased by 15. This may seem a little confusing, so what has happened? There was a significant number of Adviser losses in the last week of June 2020. Since then it would appear that a number of the Advisers have been gaining new roles. It is also worth noting that licensees have up to 30 days to report Adviser movement and in effect some roles may be ‘back dated’.

As a comparison for the same quarter in 2019, 144 roles were lost.

The week did see new licensees emerge as the main gainers of Advisers. Verse Wealth (ex Synchronised Business Systems Advisers) and Nest Advisory (ex AMP and Financial Services partners) being new licensees. Smaller licensees also showing bigger losses with Equity Trustees Superannuation down 6 Advisers and Walker Wayland down 5. Both licensees now showing as zero current advisers.

Year to date shows that Lifespan continue growing faster than its peers, up 46 Advisers, followed by Interprac at 41 and then a big gap to Sentry at 28. AMP Group is still easily the largest with 1,846 roles but has lost -296 roles. IOOF, the only other group with more than a 1,000 roles is at 1,348 despite losing -107 roles. So IOOF continue to narrow the gap by having less attrition.

Provisional advisers roles now at 23.

Don’t forget to review all the dashboards. You’ll find a wealth of information and the ability to make licensee comparisons - tabs 5, 6, 7 and 8 are very helpful if you are considering a new licensee.