Weekly Financial Adviser Movement To Sep 9, 2021

This week’s analysis of the ASIC Financial Adviser Register (FAR), shows a decrease of (-6) Adviser Roles moving from 19,325 to 19,319

The number of actual Advisers decreased by (-2) from 19,032 to 19,030

Click Here To Access The Detailed Adviser Dashboards

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

Key Movements This Week:

• 50 Appointments and (-56) Resignations - Net Change of roles (-6) and 2 actual advisers*

• 28 Licensee Owners had net gains for 39 roles

• 30 Licensee Owners had net losses for (-45) roles

• 5 Provisional Advisers (PAs) appointed, 2 resigned and both being re-appointed as advisers. Currently 132 PAs

*Variation this week between roles and actual advisers: 1 adviser left 2 roles, another 3 advisers resigned from additional roles.

Growth This Week
While it was a quiet week in terms of net movement there was still a fair bit of activity. At the licensee owner level (Dashboard 1B) Capstone had a net growth of 4 advisers, 2 from Crown Wealth, 1 from MIQ Private Wealth and another adviser returning to advice after being away for 3 years. Two new licensee owners commenced with 3 advisers each - ASR (Arco) ex FSP and Wealth Advisers Financial Group moving away from Lifespan.

4 licensee owners made net gains of 2 each including Reedy Capital. 21 made a net gain of 1 adviser each including Sambe Investments, Count and Steinhardt Holdings (Infocus).

There were technically 4 new licensees this week, one being Statton Pty Ltd with 4 advisers, but this appears to be an internal move and net gains for Statton as a group was +1. As mentioned, 2 others commenced with 3 advisers each and a single adviser firm commenced, moving away from Lonsdale.

Losses This Week
Easton Group lost (-5), across three licensees, with (-3) at Merit, and (-1) each at GPS Wealth and The SMSF Expert. IOOF with (-4), with Actuate, Bridges, Consultum and M3 all losing 1 adviser each. Three groups lost a net (-3) each including AMP.

Arrow Securities are down to 0 after 2 losses, the only Licensee to close this week. Crown Wealth also down 2 and 23 groups lost (-1) each.

Year To Date Data
Very little change this week with Oreana as the leading growth businesses for groups with 50 or more advisers. (Dashboard 2). They have grown by 28 roles, ahead of a merged Centrepoint / Clearview at 13 and Count up 1 this week to 12.

As for losses, IOOF (-401), AMP Group (-279) and NTAA at (-181) dominate the losses, a total of (-861).

Largest 3 Groups Represent 52% of Adviser Net Losses YTD
The latest data shows that the three largest groups - AMP, IOOF and NTAA represent 3,375 adviser roles, or 17.5% of all current adviser roles. At the start of the year they had 4,236 roles or 20% of all roles which was 20,968. Their net decline as a group was (-20.33%). The sector as a whole excluding the three groups declined from 16,732 to 15,944 (-788 roles) or (-4.71%).

Combined, the three groups are down (-861) roles or (-20.33%) for YTD, Sep 9 2021

The loss of adviser roles excluding the three largest groups was (-788) roles or (-4.71%).

Total net losses YTD is (-1,649) and the top 3 groups have lost (-861) roles or 52% of the total.

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