There has been a “welcome jump” in the number of financial advisers in the past week driven by another solid week of new entrants and a drop in the number of ceased advisers, according to Wealth Data.
The research firm’s Colin Williams points to adviser numbers being up by a net 18 in the latest week, boosted by nine new entrants and a low number of ceased advisers.
Williams says the total number of advisers currently sits at 15,700 a net change of 99 fewer advisers for the calendar year to date, and a lift of 140 advisers in the financial year to date.
This reinforces our earlier reporting that adviser numbers appear to be close to plateauing in the 2023 calendar year (see: Adviser Numbers Steady?).
Wealth Data’s latest chart on financial adviser movements also shows that in the 2023 year to date, the drop of 99 advisers (down 0.63%) compares with a loss of 1,309 advisers in the prior calendar year, a fall of 7.62%.
It also shows that so far this year 104 new licensees have opened (plus 127 in the prior period) while 51 licensees have ceased compared with a loss of 344 in the 2022 calendar year.
