This week was far less volatile than last week which captured the end of financial year rush.

Net change to Adviser roles for the week was -12. Biggest contributor to the losses was ANZ Banking Group with -28.

Note: Net change of Adviser roles is the difference between Adviser roles ‘appointed’ and those that ‘resigned’ (removed from a licensee). The vast majority of appointments are existing Advisers switching from one licensee to another.

Major contributors to the upside for the quarter (from July 1) were Sequoia Wealth with 21 Adviser roles (also own Interprac Financial) who purchased the clients from Phillip Capital in June and moved the majority of the Phillip Capital Advisers onto the Sequoia licence. The Lunar Group (trading as Stanford Brown), positive movement of 18. Appears to be driven by internal change to the business structure as the Adviser gains this week netted off the losses from last week.

While the losses this year are high, currently showing -2,025, it is better than for the same period last year which was at -2,692. (Page 2).

Year to date (Page 3) shows Interprac with the highest net growth at a licensee level with 38 new Adviser roles. Lifespan also showing a strong result at 32. Of the other major licensees, Sentry, Matrix and Fortnum posting good positive results.

For licensee owners YTD, AMP Group is still the largest despite losses of 255 Adviser roles. Quick tip - If you hover over the header bar in the charts a little ‘sort box’ appears. Click the box and you can invert the sorting. You’ll see that major institutions continue to suffer the greatest net losses of Adviser roles.

On a brighter note, we are beginning to see additional ‘Provisional Advisers' being added. Currently 18 in total with 6 being added from June 1. (Page 11). This is encouraging.

Advisers versus Adviser roles

We often get asked what is the difference between the number of actual Advisers versus Adviser roles. Page 12 has been added to highlight the variance. Currently there are 300 Advisers who are working under two or more licensees. In the majority of instances, the Advisers are linked to licensees through an ownership structure. Working under two or more licensees is usually a decision made at management level to solve particular issues with servicing of clients.

A link to the latest Adviser Movement dashboard provided below.

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