The latest analysis from Wealth Data reveals that the current number of financial advisers stands at 18,887, a loss of 1,746 advisers in the 2021 year to date.
The professional services firm’s data shows this equates to a drop 8.46 percent from the 20,633 advisers registered on ASIC’s FAR at the start of the year.
Wealth Data’s analysis also shows that IOOF is now the largest of the licensee owners with a total of 1,379 advisers; followed by AMP Group with 1,278; the National Tax and Accountants’ Association with 649; Easton Group with 534 and Centrepoint Group with 508 advisers.
Wealth Data has also ranked licensees firm numbers where the top six licensees are:
- SMSF Advisers Network, owned by National Tax and Accountants’ Association: 47 advisers
- AMP Financial Planning: 646 advisers
- Morgans Financial: 470 advisers
- Synchronised Business Services (Synchron): 420 advisers
- Charter Financial Planning: 409 advisers
- Consultum Financial Advisers: 368 advisers