{"id":70912,"date":"2024-04-11T14:53:06","date_gmt":"2024-04-11T04:53:06","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=70912"},"modified":"2024-04-16T16:37:45","modified_gmt":"2024-04-16T06:37:45","slug":"advisers-in-micro-afsls-tend-to-stay-with-smaller-firms","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2024\/04\/11\/advisers-in-micro-afsls-tend-to-stay-with-smaller-firms\/","title":{"rendered":"Advisers in Micro AFSLs Tend to Stay with Smaller Firms"},"content":{"rendered":"

Most advisers who have been in a small licensee, tend to opt for another small firm, if their current licensee has closed, according to Wealth Data\u2019s<\/a> latest analysis.<\/p>\n

The firm\u2019s Colin Williams<\/strong> writes in his latest Financial Adviser Insights<\/em> that recently the industry has seen one AFSL close for every two that commence – in the current financial year to date, 101 licensees commenced and 54 ceased.<\/p>\n

\"\"<\/a>
Colin Williams<\/figcaption><\/figure>\n

He says this raises the question as to what happens to advisers who once belonged to an AFSL that closed.<\/p>\n

The firm’s analysis is based on 46 closed AFSLs, which had started the financial year with five or fewer advisers.<\/p>\n

\u201cThe chart shows that 75 advisers were affected. The majority are in our Financial Planning business model with 29 AFSLs closed affecting 53 advisers.”<\/p>\n

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

Williams says that of the 75 advisers affected by the closures \u201c\u2026a total of 38 are still current on the ASIC FAR. The majority of 24 are in the Financial Planning model.\u201d<\/p>\n

Of those still current, he says, only 12 advisers are now authorised under licensee owners who have 20 or more advisers. (11 in the Financial Planning model and 1 in the Investment Advice model).<\/p>\n

\u201cTen have remained in AFSLs where the licensee owners has between one and five advisers. The balance of 16 are in AFSLs of greater than five and less than 20 [advisers],\u201d he notes.<\/p>\n

“The data indicates that most advisers, who have been in a small licensee, tend to stay in a small licensee,” Williams concludes.<\/p>\n

\"\"<\/a>
Courtesy of Wealth Data.<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Most advisers who have been in a small licensee, tend to opt for another small firm, if their current licensee has closed, according to Wealth Data\u2019s latest analysis. The firm\u2019s Colin Williams writes in his latest Financial Adviser Insights that recently the industry has seen one AFSL close for every two that commence – in […]<\/p>\n","protected":false},"author":24,"featured_media":70922,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-70912","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\/70912","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=70912"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/70912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/70922"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=70912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=70912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=70912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}