Record 195 new advisers in September quarter

There were a record 195 new entrants onto the Financial Adviser Register (FAR) during the September quarter, with 191 still active, according to the latest analysis from WealthData.
WealthData principal, Colin Williams noted that this compared to the previous high of 131 new entrants in the September quarter of 2023, of which 117 remain active.
The September quarter analysis came as the FAR rose by nine advisers over the past week to 15,520 with the dominant feature continuing to be adviser churn between licensees.
Key Adviser Movements This Week:
- Net change of advisers +9
- Current number of advisers at 15,520
- Net Change Calendar 2024 YTD (-104)
- Net Change Financial YTD +177
- 30 Licensee Owners had net gains of 41 advisers
- 23 Licensee Owners had net losses for (-32) advisers
- 1 new licensee commenced and 2 ceased
- 11 New entrants
- Number of advisers active this week, appointed / resigned: 86.
Growth This Week – Licensee Owners
- Sequoia gained six advisers: two from Synchron (WT Financial), two from Next Generation Advice, one from Infocus, and one from AMP.
- A new licensee started with three advisers, leaving Matrix (Centrepoint).
- Four licensee owners increased by two:
- PictureWealth with another two advisers moving across from AAN Wealth Management who joined over 30 advisers that switched last week
- Patrick Cork (Cam Financial) gained both advisers from Sentry (WT Financial).
- Merchant Wealth Partners added one adviser each from Brela Group and Royale Wealth.
- Beryllium Advisers gained both advisers from Fortnum.
- Overall, 24 licensee owners rose by one, including Shaw and Partners, Morgans, Centrepoint, and Insignia. Centrepoint had a busy week, losing three advisers but hiring four—three from Infocus and one from AMP.
Losses This Week – Licensee Owners
- Count Limited has lost four advisers, including two at Merit and one each at Count, Paragem, and GPS Wealth, with no new appointments reported. They have hired one new adviser.
- Infocus is down by three, with two advisers moving to Alliance Wealth and one to Interprac.
- Four licensee owners have decreased by two:
- AMP Group losing two advisers from AMP Financial Planning who have not found new roles.
- Findex has also lost both advisers without new placements.
- Morgan Stanley, as part of Findex, lost both advisers with no new appointments.
- O & Z Pty Ltd (Havana Financial Services) has one adviser moving to MFG Advice and another to Finchley & Kent.
Overall, 17 licensee owners have decreased by one each, including Pitcher Partners, Spark Partnership Group, and Fiducian
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