Advisers migrating to smaller licensees

New analysis from WealthData has confirmed the anecdotal evidence that financial advisers who leave big licensees tend to remain in the profession working at smaller licensees.

The analysis, undertaken by WealthData principal, Colin Williams reveals that most advisers who left Entireti, WT Financial and Rhombus were still current on the Financial Adviser Register but working at alternative licensees.

By comparison, 42% of those who left Count and 35% of those who left Centrepoint are still current suggesting that majority of their losses are advisers who retired or who are no longer practising.