This week’s analysis of the ASIC Financial Adviser Register (FAR), shows a decrease of (-100) Adviser Roles moving from a total of 20,142 to 20,042

The number of actual Advisers dropped by (-53) from 19,796 to 19,743

Click Here To Access The Detailed Adviser Dashboards

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

Key movement stats for the week
Regular readers of the blog may recall that a few weeks ago, Euroz Hartleys authorised a large number of its Advisers to act across more than one licensee that they owned. This week, they have closed two licensees - Euroz Hartley Securities and Entrust Wealth Management. This has resulted in a reduction of 47 roles across the Euroz Group, but zero reduction in the number of actual Advisers at Euroz.

A total of just 28 Appointments for the week, 1 being a Provisional Adviser, indicating that 27 Advisers effectively switched licensees. 128 Resignations (or 81 excluding Euroz group) giving the net change of (-100). In terms of actual Advisers, 81 resigned and 28 appointed giving the net loss of (-53). Excluding the Provisional Adviser, this means that 54 experienced Advisers dropped off the FAR this week.

Gains For The Week
Looking only at the Licensee Owners page (Dashboard 1B), 17 Owners made net gains with Castleguard who own Lifespan heading the list with 2, the remaining 16 all gained 1 each. A very quiet week.

The gains include 3 new licensees (Ironplan, HSBCCOMGT and Australian FSL) who all commenced with 1 Adviser each. The Advisers left 3 different licensees, Neo Financial Solutions, Financial Services Partners and Synchron.

Losses For The Week
At the Licensee Owner level, the Adviser Roles net losses are dominated by Euroz, down (-47), as mentioned earlier, no actual Advisers were lost. Easton Group lost (-8), 6 from GPS and 2 from Merit. AMP Group, Synchron and Financial Link all lost (-4) roles each. Excluding Euroz, a total of 43 licensees had net losses for the week of (-71) Advisers.

8 licensees closed this week (Zero Advisers). 2 belonging to Euroz Group,. The other six only had one Adviser each and four were associated with accounting firms operating under limited SMSF AFSLs.

YTD Movement
Very little change at the licensee Owner level (See dashboard 2). Oreana still ahead for the growth of Advisers at 21, Count with 17, .Centrepoint 12 and both Fortnum and Canaccord with 10 each.

In terms of losses, IOOF Group at (-321), AMP Group at (-191) Easton at (-75) and NTA (-71).

Wealth Today (WT Financial Group) to Buy Sentry Group
Making the headlines this week was the announcement that Wealth Today will buy Sentry Group. The announcement to the ASX highlighted that the combined group will hold 275 Advisers across 200 practices.

Our figures, which is an analysis of the ASIC Financial Adviser Register (FAR), shows that the combined group currently have 222 Advisers, starting the year with 234 (see dashboard 4 and image below). Wealth Today have clarified that the variation is a combination of General Advice and Wholesale Advisers not listed on the ASIC FAR and an expectation of new Advisers joining the group between now and July 21.