Financial Adviser Weekly Movement - Aug 13, 2020

Not any significant movement for Adviser this week, but the week may be remembered as the week that AMP Financial Planning no longer have 1,000 or more current Advisers roles. They slipped to 999. At the start of 2019, they had 1,396. As a 'group’ (all AMP licensees) AMP does have 1,855 Adviser roles, a loss of -287 for this year to date.

Looking at the national picture, we did see that the number of Adviser roles for the week dropped by -6. However, Actual Advisers dropped -11. We have seen a small rise in the number of Advisers working for more than one licensee. Tab 12 of the dashboard will highlight that there are now 308 Advisers working for more than 1 licensee. They represent 634 Adviser roles. Main groups involved with more roles than actual advisers are; Macquarie, Shaw and Partners and Findex.

New appointments were limited to single Adviser gains. Losses were greater as AMP Financial Planning saw a net loss of -4 and sister licensee, Charter also losing -2 Adviser roles.

Year to date, Lifespan still leading the way with net gain of 44 Advisers, followed by Interprac at 40. Losses year to date, Financial Wisdom, (now closed) has losses of -174 and AMP Financial Planning at -157.

For access to the Adviser Movement Dashboards - click on the link below.