Weekly Financial Adviser Movement To June 24, 2021

This week’s analysis of the ASIC Financial Adviser Register (FAR), shows a decrease of (-148) Adviser Roles moving from a total of 20,042 to 19,894

The number of actual Advisers dropped by (-112) from 19,743 to 19,631

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
This week saw Macquarie Group remove 35 ‘dual licensed’ Advisers from one licensee (Maquarie Equities) and all but one remain licensed at Macquarie Bank. The movement at Macquarie does not hide the fact that 112 actual Advisers dropped off the ASIC FAR this week.

A total of 48 Appointments for the week, 2 being Provisional Advisers, indicating that 46 Advisers effectively switched licensees. 196 roles ceased (161) ex Macquarie Equities, to give the net change of -148.

Gains For The Week - By Licensee Owner - Dashboard 1B
23 Licensee Owners made net gains of 30 Adviser Roles. Centrepoint Group with 4, all via the IOOF Group. Four Owners did make gains of 2 each including Viridian. A tail of 18 Owners making a net gain of 1 each.

Only two new licensees commenced, both with one Adviser each.

Losses For The Week - By Licensee Owner - Dashboard 1B
Macquarie with (-36) roles but only lost the one actual Adviser. AMP Group down by (-13) and IOOF Group at (-12) Craigs Investment Partners - based in NZ, lost (-8). It will be interesting to see how Craigs once new FASEA requirements take hold. Easton Group and Synchron both lost (-6) each.

6 licensees closed this week for a total of (-9) Advisers.

Financial YTD Movement - See Dashboard 2
With the date filter adjusted to start from July 1, 2020. Licensee Owners with more than 50 Advisers roles, Castleguard (Lifespan) leads with a net growth of 43, followed by Oreana at 31 and Capstone at 29. Should note licensee Wealth Trail owned by Chris Maceachern - grown by 35 roles. They are not on the list as they have less than 50 roles.

Small Licensees Open and Closed This Financial Year to Date
There are currently 162 licensees with less than 20 Advisers that commenced since July 1, 2020. A total of 169 equivalent licensees have closed, i.e. started the year with less than 20 Advisers and have now effectively closed (now with zero Advisers) - So almost 1 opening for every 1 closing.

Of the closures - 43 were classed in the Financial Planning peer group and 89 classed as Accounting - Limited Advice.

Of the new licensees - 125 classed as Financial Planning and Zero classed as Accounting - Limited Advice.

If you need more info as to who the licensees are, let me know.