Financial Adviser Weekly Movement Update November 5, 2020

The latest data from the ASIC Financial Adviser Register (FAR) is not as exciting as the latest election data from the US. However, as the year end comes into sight, it is worth noting which licensees are looking like winners as measured by Adviser growth.

For the week ending November 5, a total of 28 adviser roles were lost reducing the total number of adviser roles to 21,399 and 21,051 ‘actual’ advisers - see dashboard 12 as to why there is a variance.

Sambe Investments and Interprac both gained 3 Adviser roles. Sambe Investments now have 8 Advisers after taking 2 advisers from Wealthsure and 1 from Blue Ocean Financial Services. Interprac continue their growth, this time taking one adviser each from Clearview. CIP Licensing and AMP Financial Planning.

Four licensees each gained 2 advisers, Excelsuper, ANZ Bank, Affinia and AD Advisory. Affinia have been steady recruiters for the year gaining 38 new adviser roles but have also lost the same number, leaving them flat YTD - see dashboard 5 to see comprehensive coverage over different time periods by each licensee.

AMP Financial Planning (AMP FP) yet again appear at the top of the list for losses for the week, this time losing 7 advisers. AMP FP have now lost 245 advisers YTD. They are still the largest licensee but their lead over SMSF Adviser Network (SMSF AN) has reduced to only 70, after starting the year with 230 more advisers than SMSF AN.

Count Financial saw further losses, this week it was 6 advisers bringing its YTD total to 40 adviser losses. Looking at Count as a ‘group’ it started the year with Total Financial Solutions which was merged into Count. As a group, Count has lost 120 advisers YTD.

As we head into the close for the year, Lifespan continue to lead the way with a net gain of 61 adviser roles YTD, followed by Interprac with 48 and Sentry at 34. At a group level, (Licensee owner may own more than one licensee) Castleguard Trust continues on in first position with 61 adviser roles, closely followed by Sequioa with 59. There is a gap to Nextplan with 26, Capstone at 23, Fortnum at 22, Steinhardt (Infocus) with 20 and Highfield Group also with 20. See dashboard 3.

Just Updated - As requested, a new dashboard listing the most popular manes for Advisers by First and also by Last names - See Dashboard 14 for details.