This week’s analysis of the ASIC Financial Adviser Register (FAR), shows an increase of +14 Adviser Roles moving from 19,346 to 19,360

The number of actual Advisers decreased by +10 from 19,065 to 19,075

Click Here To Access The Detailed Adviser Dashboards

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

Key Movements This Week:

• 49 Appointments and (-35) Resignations - Net Change in roles of +14*.

• 39 Licensee Owners had net gains for 51 roles

• 26 Licensee Owners had net losses for (-37) roles

• 8 Provisional Advisers appointed.

*The main reason for the this week’s variance between adviser roles and actual advisers was due to Macquarie Bank appointing 5 existing Macquarie Equities advisers. All 5 advisers now have 2 roles at Macquarie Group.

Growth This Week
Driving the net growth in advisers was the appointment of 8 Provisional Advisers and all 8 were appointed at different licensees. 3 Provisional advisers resigned, with two being re-appointed as advisers. Macquarie Group (Dashboard 1B) is showing an increase of 5 roles, as mentioned earlier, this is due to appointing 5 existing advisers at Macquarie Equities into new roles at Macquarie Bank.

Easton Group had a good week with a net growth of 5 driven by GPS gaining a net 3 advisers with 2 taken from Charter. A new licensee, Catalpa commenced with 3 advisers, all from Insight Investment Services. Capstone also chipped in with a net growth of 3 advisers, with 2 advisers from the now closed R V Wealth.

A long tail of growth this week with 35 licensee owners gaining a net 1 adviser each.

3 new licensees commenced for a total of 5 advisers.

Losses This Week
AMP Group dominated the losses with (-9) spread across Charter (-4), IPAC (-3) and AMP Financial Planning at (-2). Three groups lost (-2) each including CBA and Ord Minnett and 22 licensee owners lost (-1) each.

No licensees closed this week.

Year To Date Data
Year to date data for groups with 50 or more adviser roles, again this week there was little change. Centrepoint have grown the most at 21, Oreana at 19 and Count at 13. These are the only three groups with growth in double figures.

IOOF extend their lead over AMP Group. IOOF have 1,439 roles versus AMP Group at 1,326. AMP Financial Planning remain the largest licensee with 674 just ahead of SMSF Advisers Network who have been pretty steady over recent weeks at 669.

Disciplinary Actions Against Advisers - On The ASIC FAR
The ASIC Financial Adviser Register does contain data for disciplinary actions against advisers. We have been asked to provide the data for some clients who are often surprised by the low numbers.

The first list covers ‘Current Advisers’ 26 advisers in total. The second list is for ‘Ceased Advisers’ This list is in total 177 advisers, only DA types whereby 2 or more actions are shown for the 107. The DA type is often vague (as you can see) while others can be quite detailed. While almost all actions are historical and have run their course, the details do remain with the adviser and are shown to the public via the ASIC Moneysmart website.

Note: We have removed adviser and licensee details

Have a great week - any questions, please call or email using the contact details