Adviser Movements Buck Recent Upward Trend

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The run of positive weekly adviser movements came to an end with a small net loss of advisers, the latest weekly data shows.

Wealth Data’s weekly movements show adviser numbers fell by five to 16,432 and the firm’s Colin Williams says this is the first negative week for the financial year (see: Upward Trend in Adviser Numbers Continues).

Colin Williams.

However, he adds that the net gain for the financial year is still solid at 174. “It was a quiet week of adviser movement which is usual after the rush around the financial year.”

Key Adviser Movements:

  • Net Change of advisers – down five
  • 23 licensee owners had net gains for 27 advisers
  • 19 licensee owners had net losses for 39 advisers
  • Zero new licensees commenced and three ceased
  • Five provisional advisers commenced and none ceased.

Looking at the gains and losses in the last two months Williams says “…now that the effects of the financial year have rolled through, it is interesting to see how the licensee owners have fared over this period of time.”

He says that in the period from June 1 to July 28, Steinhardt Holdings (Infocus) is up the most at 11, followed closely by Count at 10. AMP Group has had the largest loss at 44 followed by ANZ Bank at 35 and Insignia at 33.

Movement of Advisers from June 1 2022 to July 28, 2022. Source: Wealth Data