While still expecting to see some further reporting that may be back dated, the new financial year has got off to a positive start with adviser numbers up by 129 compared to a rise of 96 advisers for the same period last year, according to Wealth Data.
In his weekly Financial Adviser Movement report, Wealth Data’s Colin Williams says losses for the calendar year to date are also better than last year with a loss of 775 advisers versus 1,584 for corresponding period last year.
“We … saw a lot of resignations put into the last financial year and pretty much all appointments into this financial year – hence the new financial year is showing very strong growth of 129 advisers. Last financial year is currently showing a net loss of 2,671 or minus 14.10%.
He also notes that the number of new licensees for the start of the year was good at nine but down on the same time last year which was 14.
“We do expect more new licensees coming on in the next few weeks of reporting. Calendar YTD the new licensees stand at 81 versus 88 for last year.”
