A total of 90% of licensees are now listed as privately owned, says Adviser Ratings‘ latest Adviser Musical Chairs Report.
The research firm’s report for Q2 2024 includes data showing current licensee distribution by segment which points to privately-owned licensees with one to 10 advisers now totalling 1,525 to make up 81.9 percent of licensees.
There are also 133 privately-owned licensees with 11-100 advisers, making up 7.1% of the total and 15 privately-owned licensees with 100+ advisers accounting for another 0.8% of the market.
As to the number of advisers in each segment, further Adviser Ratings data shows:
- 4,207 advisers in the privately-owned (1-10) segment
- 3,242 advisers in the privately-owned (11-100) segment
- 3,047 advisers in the privately-owned (100+) segment
The next biggest is the diversified segment with 2,155 advisers.
Adviser Ratings’ other key findings for Q2 2024 includes:
- A 1% quarterly decline in the adviser population
- 95 advisers joined the profession in Q2
- 74% was the proportion of ceased licensees which had been operating for six years or more
- 2.9% was the percentage of advisers who switched licensee in Q2
