{"id":59443,"date":"2022-02-08T14:30:00","date_gmt":"2022-02-08T03:30:00","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=59443"},"modified":"2022-02-08T14:30:00","modified_gmt":"2022-02-08T03:30:00","slug":"adviser-numbers-tumble-by-300-but-bright-spots","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2022\/02\/08\/adviser-numbers-tumble-by-300-but-bright-spots\/","title":{"rendered":"Adviser Numbers Tumble by 300+ – But Bright Spots"},"content":{"rendered":"

Adviser numbers tumbled by more than 300 last week, according to Wealth Data\u2019s<\/a> latest weekly analysis, but there are some bright spots.<\/p>\n

In his weekly report, Wealth Data’s Colin Williams<\/strong>, points to a net loss of 319 advisers as reporting by licensees catches up with the FASEA Exam requirements. According to Wealth Data, the total number of advisers is now sitting at 17,282.<\/p>\n

Williams says the vast majority of this week\u2019s losses were in the Accounting – Limited Advice peer group, mostly accountants offering limited SMSF Advice.<\/p>\n

\"\"<\/a>
Colin Williams…there are some positive stories beginning to emerge…<\/figcaption><\/figure>\n

He says the losses for the week were dominated by the SMSF Advisers Network which was down 255 \u201c\u2026and down a massive 380 for the financial year. This is not surprising based on our FASEA Exam analysis \u2026 which clearly showed that the SMSF Advisers Network were struggling with FASEA Exam requirements.”<\/p>\n

Williams adds that despite the large drop in total adviser numbers, which was expected, \u201c\u2026there are some positive stories beginning to emerge, such as the continued upward trend of provisional advisers.\u201d<\/p>\n

He notes too that Wealth Data is also seeing \u201c\u2026a very large portion of the CBA advisers that were forced to leave last year being recruited elsewhere.\u201d<\/p>\n

Of the 178 who were \u2018let go\u2019 after November last year 102 have gained new roles with 51 at AIA Financial Wellbeing and 51 at other licensees. \u201cThis indicates that licensees and practices are hiring advisers.\u201d<\/p>\n

Williams says the 17,282 is close to Wealth Data\u2019s forecast of 17,227 for Jan 2022, post the FASEA November exam results being published. \u201cThe data suggests we have a few more advisers to fall because of FASEA exam requirements.\u201d<\/p>\n

Key data points for the week:<\/p>\n

    \n
  • Net Change of advisers – down 319<\/li>\n
  • Number of advisers now at 17,282<\/li>\n
  • 27 Licensee Owners had net gains for 52 advisers<\/li>\n
  • 57 Licensee Owners had net losses for 374 advisers<\/li>\n
  • \u00a02 new licensees commenced and 12 closed<\/li>\n
  • \u00a05 Provisional Advisers commenced<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Adviser numbers tumbled by more than 300 last week, according to Wealth Data\u2019s latest weekly analysis, but there are some bright spots. In his weekly report, Wealth Data’s Colin Williams, points to a net loss of 319 advisers as reporting by licensees catches up with the FASEA Exam requirements. According to Wealth Data, the total […]<\/p>\n","protected":false},"author":24,"featured_media":59448,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-59443","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/59443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=59443"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/59443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/59448"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=59443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=59443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=59443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}