Weekly Financial Adviser Movement October 7, 2021

Number of Advisers decreased by (-45) from 18,932 to 18,887

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Note: ‘Select A View’ top left of Dashboards 1A and 1B to see ‘Most Growth’ and ‘Least Growth’

Key Movements This Week:

• Net Change of advisers (-45)

• 31 Licensee Owners had net gains for 53 advisers

• 33 Licensee Owners had net losses for (-99) advisers

• 35 individual Licensees had net gains of 58

• 42 individual Licensees had net losses of (-102)

• 3 Provisional Advisers (PAs) appointed.

Note: On dashboards 1A and 1B, you can ‘hover’ your cursor over each ‘bar’ in the charts and see more details.

Growth This Week
Dashboard 1B - Licensee Owners. Oreana improved on a stellar year of growth with a net gain of 7 advisers that includes 5 that moved across from Ord Minnett Group in South Australia. Year to date, Oreana now have a net gain of 35 advisers.

ASVW Holdings appear on the growth list for two weeks in a row with a gain this week of 5. The advisers coming across belong to to the Wealth Arena practice are all ex IOOF via Consultum, and were previously at MLC (GWM). ASVW now have a total of 16 Advisers.

Steinhardt Holdings (Infocus), WT Financial and NGAA all had a net gain of 3. Infocus as noted last week, gained their advisers from Sentry part of the WT Financial Group and officially showed up this week on the FAR. WT Financial shrugged off their losses of last week and gained 2 advisers from Affinia and 1 from Lifespan.

A further 6 licensee owners had net gains of 2 and 20 had a net gain of 1 adviser.

2 new licensees added this week.

Losses This Week
IOOF as a group had a net loss of (-21) advisers. They had 3 new appointments and (-24) resignations. As mentioned earlier, 5 have re-appeared at ASVW and 1 appointed at Independent Financial Advisers Australia.

AMP Group and Ord Minnett both down (-12). Re Ord Minnett, 5 have been reappointed at Oreana the others are not showing as being attached. None of the losses at AMP Group are currently showing as being appointed elsewhere.

Count Group and Australian Unity both down by (-5), Affinia (-4) and 4 groups down (-3) each. 5 groups down (-2) each and 19 down by (-1).

2 licensees effectively closed, moving to zero advisers, both losing (-1) each.

Year To Date Data
Dashboard 2 - Viewing net change by Licensee Owners with 50 or more Advisers, Oreana are now well in front with a net gain of 35 with a big gap to second spot held by Centrepoint Group at 10. Capstone is third on the list at 7 and 3 groups all on 6, these being Bombora, Count and Fortnum.

At the other end of the spectrum, IOOF are down by (-435), AMP at (-291) and NTAA at (-181).

At the licensee level, SMSF Advisers Network, owned by NTAA just popped back into being the largest licensee with 647 advisers, followed by AMP Financial Planning at 646.

Has Any Sector Grown This Year?
The table on Dashboard 3 highlights that all peer groups have had negative growth. The range has been from (-24.22%) for the Accounting - Limited Advice model, a focus on limited SMSF Advice, to a loss of (-2.17%) for licensees operating in the Investment Advice model, a focus on portfolio advice.

The one area of growth is that of small ‘self-licensed’ advisers that are associated with Financial Planning and Investment Advice Peer Groups.

The charts below highlight the number of licensees closed and opened during 2021. This is only for licensees that commenced the year with 0 to 20 advisers and not associated with a large group.

The charts show that more licensees have closed 161 than opened, 121. Additionally, more advisers were affected by the closures at (-377) vs 304 for those that commenced. However, most of the closures are across the Accounting- Limited Advice peer group with 101 licensees closed for a loss of (-183) advisers. No licensee has commenced this year that fits into this peer group.

The Financial Planning Peer group saw 37 licensees close for a loss of (-127) advisers but 95 opened for 219 advisers. A positive net growth of 92 advisers. To put this into perceptive, it is the exact same growth as all the growth for Licensee Owners with 50 or more advisers that have had some actual growth this year (see dashboard 2 - Net Change). However, the actual net growth of this sector of Licensee owners with 50 or more advisers is (-1,554).

The Investment Advice peer group also showing some growth, losing (-10) advisers but gaining 44, a net growth of 34.

Only peer groups with growth shown

If you want information including contact details for all licensees, including those that have recently commenced and closed, please call or email using the details below.

Have a great week - any questions, please call or email using the contact details