75 advisers change licensee

Seventy-five financial advisers changed licensees this week, according to the latest analysis from Financial Newswire.

While total adviser numbers remained relatively steady at 15,694, WealthData principal, Colin Williams pointed to the level of movement on the part of advisers and predicted higher levels of change as the profession moved up to the Christmas close-down period.

Key Adviser Movements This Week:

• Net change of advisers +6
• Current number of advisers at 15,694
• Net Change of (-105) for Calendar YTD
• Net Change Financial YTD +135
• 29 Licensee Owners had net gains of 38 advisers
• 24 Licensee Owners had net losses for (-31) advisers
• 1 New licensee and 3 ceased
• 5 New entrants.
• Number of advisers active this week, appointed / resigned: 75

Growth This Week – Licensee Owners

• Australian Retirement Trust up net 5, with 4 advisers being ex Aware Super
• LFG Financial Services gained three advisers, all moving across from Australian Mortgage and Financial Advisers.
• 3 Licensee owners up net 2 including:
  • AMP Group who gained three advisers, including 1 new entrant and lost 1 adviser
  • SGN Financial picked up 1 adviser from Matrix part of Centrepoint, and one new entrant
  • Financial Services Group, picking up 2 advisers from different licensees.
• 24 licensee owners were up by 1 each including, Spark Partnership Group, Fortnum, Count Group and Beryllium Advisers

Losses This Week – Licensee Owners

• Insignia down by (-4), with 4 advisers leaving, 2 have been appointed elsewhere at different licensees
• Australian Mortgage And Financial advisers down by (-3), as mentioned above, advisers moved to LFG
• Diverger down by (-2), both leaving GPS Wealth, 1 already appointed elsewhere
• Macquarie Group losing another 2 on top of the 9 that left last week
• A tail of 20 licensee owners down by (-1) each including all 3 ceased licensees, Fiducian, Morgans and Centrepoint.