Analysis of the latest ASIC Financial Adviser Register released today, shows a further 32 Adviser roles lost ‘week on week’. The largest loss was 28 Adviser roles at Vincents Financial Advisory, a division of Vincents which is a large accounting and business advisory business. The roles are part of a restructure that saw authorisations removed from many staff who are predominately accountants. No physical roles were lost.

Canaccord Genuity saw further losses, 8 this week as RMBlack commenced operations under their own AFSL. They were previously at Canaccord as Corporate Authorised Representatives. As flagged last week, Boyce Financial services also commenced their own AFSL after leaving Lonsdale. They have 11 Adviser roles.

Year to date (YTD), GWM (MLC) have grown the most, however, the growth is attributable to a switch of 156 Advisers from NAB. Without the switch, GWM would have negative growth of -74. Lifespan with 55 net Advisers is still performing well followed by Interprac with 47 and Sentry with 35.

Licensees with the heaviest losses YTD are still dominated by the large institutions. Worth noting that the five licensees with the biggest losses account for net losses of 886, while the top five licensees for gains have only gained 245 roles.

Two ‘brand new’ Adviser roles created as ‘Provisional Advisers’ taking the total to 36.

Important - We will no longer provide detailed quarterly reporting for free. Should you wish for a detailed quarterly report with advise firms broken into peer groups with details as to how each licensee sourced and lost advisers, and much more, please contact us directly for a tailored report.