Financial Adviser Market Insights, Oct 31, 2024
Adviser Numbers decreased By 27, Moving From 15,512 to 15,485
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Weekly Summary
The financial adviser market lost 27 advisers this week, bringing the total back below 15,500. Two new licensees were added, and two ceased. Seven new advisers started. The number of advisers affected was 88.
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Key Adviser Movements This Week:
Net change of advisers (-27)
Current number of advisers at 15,485
Net Change Calendar 2024 YTD (-140)
Net Change Financial YTD +142
21 Licensee Owners had net gains of 30 advisers
32 Licensee Owners had net losses for (-56) advisers
2 new licensee commenced and 2 ceased
7 New entrants
Number of advisers active this week, appointed / resigned: 88.
Growth This Week - Licensee Owners
Rhombus up by net 4 and are now at 499 advisers. Three advisers came across from different licensees plus one new entrant
Six licensee owners up by net two each :
Mark O’Flynn (Oxlade Financial) with one adviser from ANZ and one n the process of moving from GPS Wealth
New licensee with advisers moving from Grange Risk Solutions and Shaw and Partners
Lifespan with one adviser from Retirewell Financial Planning and the other coming back after a short break.
New licensee with both advisers moving from Infocus
Count with one adviser back after a break and one new entrant at Paragem
Australian Financial Planning - both advisers moving across from Consultum - owned by Rhombus.
A tail of 14 licensee owners up by net one each including Sequoia, Fortnum and Centrepoint.
Losses This Week - Licensee Owners
LRM Wealth Management (VIAFGA PTY Ltd - Via Financial Group) down by net 12. However, it would appear that this firm is transitioning to Gallagher Group and we expect most / all adviser to reappear on the ASIC FAR soon.
O+Z Pty Ltd (Havana Financial Services) down by eight. The advisers are in the process of commencing their own AFSL. Expect to see the advisers back on the FAR next week.
WT Financial Group down by four - none showing as being appointed elsewhere
Infocus down by three, two advisers started their own licensee and one not showing as appointed elsewhere
Fifteenseven (Warnocks) down by two and now at zero adviser. None of the advisers being appointed elsewhere.
A long tail of 27 licensee owners down by one including ASVW Holdings, Canaccord Group and Shaw and Partners.
Free - Financial Adviser Client Segmentation Tool
Late last year, we introduced a new tool for members to help advisers better understand their client base through key segments. Once segments are set up in the tool, advisers can easily modify parameters to see how small changes can significantly impact their revenue and time.
We also released a free version that, while less detailed, lets users quickly explore the tool, adjust their client base, and see immediate results.
Over recent weeks we have seen an upturn in the number of views of this tool. Feedback indicates that many advice businesses are steadily reassessing their client base, against increasing time pressures and risk. This tool can assist with that process.
Below is an image of the main charts of the free version of Client Segmentation Tool, and you can click through to access the tool and also see a short video and the initial blog post. Happy business planning!
You can also access a more detailed version by joining our Members Lounge.
Click On The Image To Access The Free Version
Need more data? - Do you need to know more about the new licensees? Need to access databases? Simply click on the link below and find out what we can offer at the Members Lounge
