The initial rush to start new licensees at the beginning of this financial year has ended with no new licensees in the latest period and discontinued licensee numbers up compared with a year earlier, according to Wealth Data.
The research firm’s Colin Williams notes in his latest Financial Adviser Market Insights that comparing licensee data to the same period last year, the number of new licensees is similar with 22 this year compared to 24 last year.
“However, the number that have ceased operations is higher this year at 11, compared to only three last year.”
He says this increase may be expected as many newer licensees are merging or being acquired by similar companies.
“Regardless, the rise in the number ceasing operations will be important to monitor throughout the year.”
Key adviser movements this week included:
- Net change of advisers: +13
- Current number of advisers: 15,510
- Net Change Calendar 2024 YTD: -110
- Net Change Financial YTD: +168
- No new licensees commenced and none ceased
- 12 New entrants
- Number of advisers active this week, appointed/resigned: 77
