{"id":64162,"date":"2023-01-20T11:13:16","date_gmt":"2023-01-20T00:13:16","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=64162"},"modified":"2025-03-14T12:02:24","modified_gmt":"2025-03-14T01:02:24","slug":"industry-lost-2000-advisers-in-2022","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2023\/01\/20\/industry-lost-2000-advisers-in-2022\/","title":{"rendered":"Industry Lost 2,000+ Advisers in 2022"},"content":{"rendered":"
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The continuing drain on financial adviser numbers across 2022 – including the exit of many long-time practitioners – is the story which received the most interest from Riskinfo readers this week…<\/h3>\n<\/div>\n<\/div>\n

A total of 2,171 advisers resigned during the 2022 calendar year, some 500 of whom had 20 years plus experience, the latest data shows.<\/p>\n

Writing in Wealth Data\u2019s<\/a> weekly Financial Adviser Movement<\/em> report, Colin Williams<\/strong> highlights a chart showing the number of advisers leaving, ordered by the year they started in the industry.<\/p>\n

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Colin Williams…a significant amount of experience was lost…<\/figcaption><\/figure>\n

He says this points to a significant amount of experience being lost “…with some 513 advisers leaving who had an \u2018adviser\u2019 start year date of before the year 2000.\u201d<\/p>\n

Williams adds that it\u2019s also interesting to note the large numbers across only three start years of 2016, 2017 and 2018.<\/p>\n

He also notes that closer analysis highlights that 301 advisers of this cohort belonged to the Accounting – Limited Advice (restricted AFSL) model.<\/p>\n

\"\"<\/a>
Courtesy of Wealth Data.<\/figcaption><\/figure>\n

The second chart outlines those leaving by business model\u00a0 \u201c\u2026the largest is the Financial Planning model and [it] also had the largest losses at 1,110 losses,\u201d Williams says.<\/p>\n

\"\"<\/a>
Courtesy of Wealth Data.<\/figcaption><\/figure>\n
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Courtesy of Wealth Data.<\/figcaption><\/figure>\n

The advisers who left are not current on ASIC’s Financial Advisers Register.<\/p>\n

However Williams also states in his weekly report that the 2023 year is “…still looking positive with most adviser losses backdated into 2022.”<\/p>\n

There are currently 15,849 advisers in total.<\/p>\n","protected":false},"excerpt":{"rendered":"

The continuing drain on financial adviser numbers across 2022 – including the exit of many long-time practitioners – is the story which received the most interest from Riskinfo readers this week… A total of 2,171 advisers resigned during the 2022 calendar year, some 500 of whom had 20 years plus experience, the latest data shows. […]<\/p>\n","protected":false},"author":24,"featured_media":64172,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3,8291],"tags":[],"class_list":{"0":"post-64162","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-regulation","8":"category-general","9":"category-story-of-the-week"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/64162","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=64162"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/64162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/64172"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=64162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=64162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=64162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}