Weekly Financial Adviser Movement To July 15, 2021
This week’s analysis of the ASIC Financial Adviser Register (FAR), shows an increase of +12 Adviser Roles moving from a total of 19,368 to 19,380
The number of actual Advisers increased by +9 from 19,104 to 19,113
Click Here To Access The Detailed Adviser Dashboards
(See Dashboard 17 for more information to the variation between Adviser Roles and Actual Advisers)
The New Financial Year Bounce Continues
Growth of 9 advisers this week, making it two weeks in a row of net growth. The story for July is even better, with net a net gain of 96 roles (see Dashboard 7). The reason for the growth in July is that we are still seeing losses (resignations) dated into June and gains (appointments) booked in for July. Noting that licensees have 30 days to report adviser movement.
Key Movements This Week:
48 Appointments, (-36) Resignations - Net Change in roles of +12
A net gain of 5 Provisional Advisers, with 7 appointed, and two resigned. One of the resignations was reappointed as an adviser (Provisional Advisers included in above figures)
39 Licensee Owners (dashboard 1B) had net gains for 53 roles
30 Licensee Owners had net losses for 41 roles.
Regular readers of the updates will notice that this week was a relatively quiet one in terms of movement. It could remain this way for a while followed by a surge in activity as we close out the year.
Growth This Week
Heading the growth this week were 7 new licensees for a total of 16 adviser roles. Wealth Planning Partners +4 moving away from IOOF, Dalton Financial Partners +3 and Chris Humphrey (Humphrey Private)+2, both Dalton and Chris Humphrey moving out of Hunter Green.
There was a long tail this week with 28 licensee owners gaining 1 role each.
Losses This Week
AMP Group down (-6), and AFTA Group trading as Soundbridge down (-3). 4 licensee owners lost (-2) each and 21 lost (-1) each.
3 licensees closed (zero advisers) for (-1) role each.
Year To Date Data
Year to date movement was little changed this week. Centrepoint Group did gain 2 roles for a YTD total of 16. Oreana still out in front at 20. Count with 13 round out the top 3.
Breaking Down The Adviser World By Peer Group and Licensee Size
Dashboard 9, Peer Group Stats, paints a picture of what must look like a strange profession to most outsiders.
The top table ‘Peer Group’ - The Financial Planning (providing holistic advice) peer group is still the most dominant with 1,148 licensees or 54.54% of all licensees and 12,033 or 62.09% of all adviser roles.
The bottom table ‘Band Size of Licensee’ - This highlights that licensees with 100 or more advisers (100 plus) only make up 37 licensees or 1.76% of all licensees, yet represent 8,910 or 45.64% of all adviser roles. Meanwhile, at the other end of the spectrum, there are 777 single adviser licensees (1 Only) which make up 36.91% of all licensees but only 4.01% of all adviser roles.
Dashboard 9 allows you to dissect this data further using the peer group filter. For example, selecting Financial Planning as a peer group will show that it has a total of 341 single adviser licensees.
Have a great week - any questions, please call or email using the contact details
