Financial Adviser Market Insights, Nov 14, 2024
Adviser Numbers Increased By 16, Moving From 15,496 to 15,512
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Weekly Summary
This week, the fluctuating financial adviser market saw a net increase of 16 advisers, bringing the total back up above 15,500 to 15,512. A number of advisers formally reported their move to new licensees. Additionally, there were four new licensees, no closures, and eight new entrants.
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Key Adviser Movements This Week:
Net change of advisers +16
Current number of advisers at 15,512
Net Change Calendar 2024 YTD (-113)
Net Change Financial YTD +169
25 Licensee Owners had net gains of 30 advisers
13 Licensee Owners had net losses for (-16) advisers
4 new licensee commenced and zero ceased
8 New entrants
Number of advisers active this week, appointed / resigned: 67.
Growth This Week - Licensee Owners
A new licensees commenced with three advisers, a firm moving from CHPW Financial
A new licensee commenced with two advisers, both moving across from Interprac
Lifespan also up by 2 with one adviser moving across from Securinvest and another from Interprac
Arthur J Gallagher (Gallagher Benefit Services) with the advisers moving from VIAFGA Pty Ltd
21 licensee owners up by net one each including AMP Group who appointed three and lost two, Centrepoint who hired two and lost one and Infocus who hired a new entrant.
Losses This Week - Licensee Owners
CHPW Financial who lost three advisers to a new licensee
Picture Wealth down by two, neither adviser appointed elsehwere to date
A very short tail of just 11 down by net one adviser including Connectus, AIA Company and WT Financial Group
Fund Level Superannuation Data - Updated Expenses and Adviser Fees
APRA recently released detailed expense data for superannuation funds at the individual fund level. The new expense data includes details of PAYEEs (who got paid) and financial adviser fees and expenses at each fund.
We have focused on the key elements of the data and incorporated this new data into our dashboards which are currently only available to our members.
A blog post has been written which highlights some of the core stats - Read Fund Level Superannuation Expenses Including Adviser Fees
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