Number of Advisers increased by plus 3 from 16,356 to 16,359

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Key Adviser Movements This Week:

• Net Change of advisers Plus 3

• 38 Licensee Owners had net gains for 47 advisers

• 29 Licensee Owners had net losses for (-47) advisers

• 4 new licensees commenced and (-4) ceased

• 14 Provisional Advisers (PA) commenced and (-1) ceased.

Note: Our Members Lounge - Covers all movement and very detailed reports for all licensees and advisers.

Summary
Another strong week for new Provisional Advisers being added to the ASIC FAR, a total of 14, making it a total of 39 for the past 2 weeks.

Financial year to date, the numbers are still positive at 130. At this same point last year, the growth was exactly zero. We are expecting losses to flow through over the coming weeks as advisers who have failed to pass the Financial (FASEA) Exam are withdrawn from the ASIC FAR.

Growth This Week
Spark Partnership have grown by 3, with advisers joining from Crown Wealth Group. Australian Advisory also up by 3 with advisers switching across from IQ Financial (Note: 1 Adviser still authorised at IQ Financial). 5 licensee owners had net growth of plus 2 including 2 new licensees. A tail of 31 licensee owners with net growth of 1 including 2 licensees reappearing after the adviser dropped off in Dec 2021. Fiducian, Highfield Group Centrepoint and Count all up by net 1.

Losses This Week
Insignia lost a net 8 advisers, 3 from RI Advice, 3 from Consultum and 1 each from Godfrey Pembroke and M3, none are currently showing as authorised elsewhere. Diverger, Sequoia and United Super all down by (-3). 5 licensee owners down by (-2) including Castleguard (Lifespan), Oracle and one closed licensee. A tail of 20 losing a net (-1) each including Shartru, Oreana, Fitzpatricks and the remaining 3 closed licensees.

Calendar YTD (Dashboard 2A Adviser Fast Facts)
Count is out in front with net growth of 37 followed by ‘newbie’ MBS Advice at 18 and in third spot is PSK with 16. As for losses, Insignia are down (-162), AMP Group next down (- 108) and Craigs Investment Partners at (-66).

Provisional And New Financial Advisers (See Dashboard 8 Under Licensee Deep Dive)
Last week we had a lot of feedback on our listing of the number of ‘New’ financial advisers since the start of 2019. The number of new advisers is a combination of current Provisional Advisers and those with a year start date as an adviser, from 2019 onwards. In theory, all advisers post 2019 must start off as a Provisional Adviser.

Below, the table highlights the numbers by Business Models. What may be surprising to many, is the low take up of new advisers operated by superannuation funds. In total, only 10 new advisers which represent 1.31% of all their current advisers. By contrast, licensees in the Accounting - Financial Planning business model have proportionately the highest number at 5.07%. This could be due to being attached to accounting groups who may have more experience at hiring new professionals.

Not shown - Our members can access the listing by Licensee Owner.

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