Year to date financial advisers up 75

The number of financial advisers who passed the March financial adviser exam have pushed calendar year numbers on the Financial Adviser Register (FAR) back into the black.

According to the latest analysis from WealthData, adviser numbers on the FAR increased by 19 this week, meaning that total numbers have grown by 75 so far this calendar year.

WealthData principal, Colin Williams said the number of licensees versus ceased licensees was now also very close with 43 new registrations and 39 having ceased.

Key Adviser Movements This Week:

• Net change of advisers +19
• Current number of advisers at 15,630
• Net Change Calendar 2024 YTD +15
• Net Change Financial YTD +75
• 37 Licensee Owners had net gains of 45 advisers
• 23 Licensee Owners had net losses for (-25) advisers
• One licensee commenced, one recommenced and four ceased.
• 21 New entrants
• Number of advisers active this week, appointed / resigned: 70.

Growth This Week – Licensee Owners

• AMP Group increased by four, which was boosted by three new entrants, two advisers from other licensees and losing one adviser who has not been appointed elsewhere to date.
• Five licensee owners up by net two:
  • WT Financial Group also boosted with new entrants with two joining. Also gained one adviser from Fiducian and lost one adviser who has not been appointed elsewhere to date
  • Philborne Pty Ltd (Dirigere Advisory) picking up two advisers from Four Points Financial Services
  • NAB Bank Group picking one adviser at JBWere and the other at NAB Bank, both being new entrants
  • Insignia Group picking up one adviser each at Bridges, with the adviser coming back after a break and another at RI Advice with the adviser switching from Findex
  • AVANT Group Holding, restarting after going to zero advisers in April. One of the advisers coming back into advice after leaving the FAR in late 2018.
• A tail of 31 licensee owners up by net one each including; Macquarie Group, Findex and Centrepoint Group.

Losses This Week – Licensee Owners

• David Meek (Four Points) losing two advisers and moving to zero – both advisers moving to Philborne as mentioned above
• Sequoia also down by two, one adviser joining Alpine Financial, the other yet to be appointed elsewhere
• 21 licensee owners down by one including Canaccord, Capstone, Clime, Count and the three remaining licensees that have now ceased (moved to zero advisers).