Poll Results – More Adviser Movement Ahead

The advice sector remains in a state of high flux, according to the results from our latest poll.

You’ve made it clear that there is definitely movement out there. As we go to print, almost six advisers in ten are looking to either change licensees (33 percent) or leave the industry (25 percent) sometime in the next 12 months.

…almost six advisers in ten are looking to either change licensees …or leave the industry …sometime in the next 12 months

Only around one third (34 percent) have indicated you’re staying put, while the rest (9 percent are unsure).

This outcome tallies with our recent report on Adviser Ratings’ year-end analysis of adviser numbers and movement which found adviser numbers are at the lowest they have been since 2015. [See: Adviser Numbers Lowest Since 2015].

There remain 23,639 advisers across the country, where 2019 saw the industry shed 4,378 advisers (15.6 percent) throughout the year, the report found.

Adviser Ratings also highlighted the other key trend driving the financial adviser industry was that increasing numbers of advisers are being licensed by a privately-owned licensee.

We also reported earlier this year on those who were saying the advice sector is changing shape – away from the domination of institutionally-owned firms and towards non-aligned and self-licensed operations (see: 3,000+ Adviser Exits…). That’s another area we’ll canvas with our readers later this year.

Meanwhile, our poll remains open for another week and we encourage you to have your say…