Financial Adviser Market Insights, Sep 5, 2024
Adviser Numbers Decreased By 15 Moving From 15,512 To 14,497
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Weekly Summary
The net number of advisers decreased by 15 this week. The number of new entrants was lower than previous weeks. However, with the Financial Exam results released last week, we can expect another pick up in new entrants over the coming weeks.
It would appear that there are some advisers transitioning between licensees and may well reappear in the next couple of weeks.
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Key Adviser Movements This Week:
Net change of advisers (-15)
Current number of advisers at 15,497
Net Change Calendar 2024 YTD (-125)
Net Change Financial YTD +156
24 Licensee Owners had net gains of 27 advisers
30 Licensee Owners had net losses for (-40) advisers
1 new licensees commenced and two ceased
6 New entrants
Number of advisers active this week, appointed / resigned: 81
Growth This Week - Licensee Owners
Three licensee owners up by plus two this week:
Vincents Advisory - However, there appears to be some shuffling between businesses with both advisers moving across from Vincents Capital
River X up by two - both advisers returning to the FAR after a break and both previously with Shaw and Partners
Rhombus with one adviser moving across from Viridian and one coming back after a break, previously with Oracle Advisory
A tail of 21 licensee owners up by net one each including Findex, Centrepoint and ASVW Holdings.
Losses This Week - Licensee Owners
WT Financial Group down by five, losing six and appointing one. Two of the advisers moved to Alliance Wealth, owned by Centrepoint. The remaining advisers yet to be appointed elsewhere
Allan Hall Business Advisory down by three, none appointed elsewhere. The firm is now down to zero advisers
Four licensee owners down by two:
Infocus one moving to ASVW Holdings and the other to be appointed
NTAA (SMSF Advisers)- none showing as being appointed elsewhere
Tupicoffs - again, both yet to be appointed elsewhere
Viridian loising one to RI Advice and the other yet to be appointed
24 licensee owners down by one including - Fortnum, Shartru and Bombora.
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