Weekly Financial Adviser Movement, Nov 25, 2021

Number of Advisers decreased by (-37) from 18,735 to 18,698

Click Here To Access The Detailed Adviser Dashboards

New Dashboards
We will no longer be providing detailed information of small licensees every week for free on the dashboards. We have all the details and happy to share.

Key Movements This Week:

• Net Change of advisers (-37)

• 21 Licensee Owners had net gains for 23 advisers

• 34 Licensee Owners had net losses for (-58) advisers

• 25 Individual Licensees had net gains of 37

• 41 Individual Licensees had net losses of (-70)

• 5 Provisional Advisers (PAs) appointed. This indicates that (-42) experienced advisers dropped off the FAR this week.

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. A very low count this week of growth appointments. Centrepoint Group picked a net growth of 2 advisers, 1 each at Alliance Wealth and PIS. Alteris picked up 2 advisers, both from Sira Group.  

Another 19 licensee owners picked up net growth of 1 adviser each,  including Steinhardt Holdings (Infocus), Sambe Investments, Capstone and Morgans.

3 new licensees commenced. 1 owned by AMP Group called AWM Services trading as AMP Direct with advisers still operating under other AMP Licensees. It will be interesting to see if this licensee will grow over the coming months.

Picture Wealth Group split out a new licensee called Picture Wealth Advisory from co-owned NEO Financial solutions. 9 new advisers commenced with the new licensee all from NEO and NEO lost a further 2 advisers, so a net (-2) for Picture Wealth Group.

Losses This Week
IOOF down (-5) and 3 groups down (-4) advisers, AMP, BMF Asset Management (now zero advisers) and Diverger Group previously known as Easton Investments.

CBA and Politis both down (-3) and 7 licensees owners down (-2) including Mortgage Choice (Finchoice) who will eventually run down to zero as the licensee will close. Currently 23 advisers still at Finchoice. A long tail of 21 licensee owners down a net (-1).

5 licensees effectively closed with zero advisers.

This week we saw 81 ‘resignations’ of those who resigned, only 21 switched in the week. Some may switch over time, but this week’s ratio was very high as demonstrated in the low net growth numbers for licensees.

Year To Date Data
Oreana remain out in front YTD (Dashboard 2) for Licensee Owners with 50 plus advisers.  Oreana have net growth of 37, followed by Centrepoint at 15 and now three licensees share 3rd position, Advice Evolution who have flown under the radar all year, Bombora Advice and Canaccord.

SMSF Adviser Network is still the largest individual licensee at 640, AMP Financial Planning next at 628 and Morgans at 474.

The Star Ratings System – How It Works
Our Star Ratings system which allocates stars to advisers based on years of service, qualifications and membership of ‘Advice’ associations is proving popular. Individual advisers are allocated a max of 5 stars and licensees get a rating based on the total stars allocated to their advisers divided by the number of advisers.

The Star Ratings System - How It Is Used
There are 1,964 licensees with less than 20 advisers, representing over 6,000 advisers. With our new online database search tools, our clients who generally offer services to the advice sector, can now search licensees based on their average Star Ratings score. For example, search all licensees with an average score greater than 3. This immediately picks out the higher rated licensees. And, with a simple click through, the user can also see each individual adviser’s rating.

Licensees who want to find the ‘experienced and qualified’ advisers for their own licensees can also utilise the service. We have licensees lists, broken down by practice and advisers and the ratings system is a great way to find the advisers who could be a good fit for your own licensee.

For more information, please call and we will give you a demo as to how it works.

Have a great week - any questions, please call or email

*The data for the ratings is only as accurate as the data on the ASIC FAR and the FASEA Successful Candidate Listing. we acknowledge that not all advisers have fully disclosed their qualifications and memberships on the ASIC FAR and not all advisers have elected for their FASEA Exam pass to be published.