Of the more than 380 new entrants to the financial advice profession in the current calendar year, the financial planning cohort snapped up just under 70%, according to Wealth Data.
In his final Financial Adviser Insights for the year, the research firm’s Colin Williams highlights that there are a total of 383 new entrants for 2023 that are current on the ASIC FAR.
He says the financial planning peer group hired 266 of these new entrants, which is 2.55% of the 10,436 current advisers in that group.
Williams notes too that the Accounting – Financial Planning group hired 40, or 4.44% of its 900 advisers.
And the The Super Fund peer group hired 11 which is 1.54% of its 716 advisers.
Williams says the total number of advisers stood at 15,667 as at December 21, 2023 while the net change was a loss of 131 advisers for the 2023 calendar year to date.
He says this was “…overall very stable compared to the same period last year which was more than 10 times greater – at minus 1,335.”
