Advisers move amid post-AMP acquisition ripples

Mike Taylor

Managing Editor/Publisher, Financial Newswire

7 February 2025

The Entireti/AZ NGA acquisition of the AMP financial advice business is still rippling through the financial planning profession, with ongoing movement between licensees.

The latest analysis of the Financial Adviser Register (FAR) by WealthData has pointed to 28 advisers from a former Charter firm moving under a new licensee – Partners Wealth Group.

The degree of continuing churn between licensees has been demonstrated by 115 advisers changing their status over the past week.

Key Adviser Movements For This Period

• Net change of advisers +9
• Current number of advisers at 15,540
• Net Change Calendar 2025 YTD +64
• Net Change Financial YTD +198
• 32 Licensee Owners had net gains of 65 advisers
• 24 Licensee Owners had net losses for (-51) advisers
• 3 new licensees commenced and 2 ceased
• 11 New entrants
• Number of advisers active in this period, appointed / resigned: 115.

Growth – Licensee Owners

• A new licensee commenced with 28 advisers. The firm was formerly at Charter, now owned by Entireti. 26 of the advisers have moved across from Charter and one each from Picture Wealth and one from Count.
• Endeavor Asset Management (EAM) added another four advises, following on from 24 last week. All four adviser remain attached to Wealth Trail which was also the same situation last week.
• Three licensees owners up by net two
  • Communication Dynamics Australia (First Mutual Group) with both advisers from Wealth Trail
  • Centrepoint Group, picking up three advisers, one a new entrant, one from Fish Tacos and one coming back after a break.
  • Bartholomew John Ryan (Oakview Financial) with one adviser coming back after a break and the other, is still currently showing as authorised at Picture Wealth.
• A tail of 27 licensee owners up by net one each including Morgans Group, Lifespan and the remaining two new licensees.

Losses – Licensee Owners

• Entireti down by (-24). As mentioned above, most leaving from Charter. They appointed four advisers, one a new entrant and the other three all coming back into advice after short breaks.
• Finwest down by three ands to zero advisers.
• Christopher Maceachern (Wealth Trail), both advisers moving to First Mutual Australia
• Investors Direct Financial also down by two, both not showing as being appointed elsewhere
• 20 licensee owners down by net one each including Count Limited, Picture Wealth and Viridian Group.