The wide range of adviser gross revenue

Mike Taylor

Managing Editor/Publisher, Financial Newswire

27 March 2024

Gross revenue earned by financial advisers employed by publicly-listed licensees ranges by as much as $300,000, according to analysis by WealthData.

The company reviewed data filed with the Australian Securities Exchange (ASX) covering the first half-of 2023/24 and then annualised it by double the revenue with the outcome being a range of between $284,923 and $600,000 per adviser.

WealthData principal, Colin Williams said that, in summary, the range varies from $600,000 per adviser for one company, the same as reported for the full 2022/23 year, down to $284,923.

He said the $284,923 represented a significant jump on the full 2022/23 year of $236,550.

As well, Williams said the median had increased to $446,480 from $393,050, while the raw Average is at $493,936, an increase of over $30,000 on last year which was at $463,258.

He stressed that the analysis was based on half-year data but said that it nonetheless provided good guidance on where revenues are heading based on a jump in the median and averages.

Williams said the number of advisers covered by the firms, after averaging over the six months and discounted for staff is 3,600.

“This is down on the full 2022/23 year, which was at 3,856. The drop was mostly driven by a much higher starting point at the 2022/23 financial year,” he said.