Weekly Financial Adviser Movement to October 1, 2020
The latest ASIC Financial Adviser Register (FAR) released today highlight further losses of Advisers. Over this last week, current Adviser roles on the FAR dropped from 21,607 to 21,498. A net loss of -109, with -96 registered for the last seven days. Note: Licensees have 30 days to register movement and the differential between 96 and 109 will be recorded for previous past dates and picked up in the QTD and YTD.
There are few winners this week with Sentry the only major licensee to make a gain greater than 1 adviser, recording 2 new Adviser roles. Smaller licensees Cobalt and Australian Financial Group also added 2 Advisers. New self licensed Arete Life Solutions commenced their journey with 2 Advisers who were previously at Australian Unity.
As for the net losses, AMP Financial Planning (AMP FP) again showing large losses with -12 followed by Lonsdale with -11, Canaccord -10 and Count at -9. AMP FP have now recorded -75 for the quarter and -211 for the year to date. Count Financial have also had some significant losses, the additional -9 for the week takes the quarter losses to -19 and -36 for the year. As ‘Count Group’ including Total Financial Solutions that merged into Count Financial earlier in the year, the net loss now stands at -116, a reduction of -32%.
Lonsdale’s losses of -11 were driven by the loss of -10 Advisers from Boyce, a large chartered accounting group servicing mostly regional NSW. Boyce are stepping out and getting their own AFSL. For the quarter, Lonsdale net loss of Adviser roles is now at -19 and for the year, -29 or -15%.
The number of Provisional Advisers (New Advisers under FASEA) remains at 34.
Make the most of the weekly Adviser Movement Dashboards - You can modify the reporting periods, compare licensees, licensee owners (group level reporting) and much more. If you want additional information, simply call or email.
