{"id":72204,"date":"2024-07-02T10:06:28","date_gmt":"2024-07-02T00:06:28","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=72204"},"modified":"2024-07-12T12:41:59","modified_gmt":"2024-07-12T02:41:59","slug":"major-decline-in-adviser-numbers","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2024\/07\/02\/major-decline-in-adviser-numbers\/","title":{"rendered":"Major Decline in Adviser Numbers"},"content":{"rendered":"

A major decline in adviser numbers saw a net loss of 81 advisers, according to Wealth Data\u2019s latest analysis with the firm’s Colin Williams<\/strong> saying this week’s numbers were “a bit of a surprise”.<\/p>\n

Williams notes it may well be that many advisers are in the process of switching licensees.<\/p>\n

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

“However, switching this late into the financial year tends to occur on the last working day of June (the adviser ceases), and then appointed at the new licensee on the first working day of July. Therefore, the numbers this week were a bit of a surprise.\u201d<\/p>\n

He adds that the net loss was compounded by the very small number of advisers being appointed.<\/p>\n

Williams is expecting greater volatility in the current week as the movement of advisers over June 30 and July 1 will be captured in the data from ASIC.<\/p>\n

…the negative numbers are being driven by a small sector of the adviser market…<\/p><\/blockquote>\n

He also points out that the negative numbers are being driven by a small sector of the adviser market \u2013 namely the Accounting – Limited Advice sector and the Super Funds.<\/p>\n

Williams’s table shows that in the current financial year to date the largest business models that provide broad advice are currently all positive.<\/p>\n

\u201cThe losses are mostly from the Accounting – Limited Advice sector -82. Licensees in this model restrict most of their advisers to SMSF advice (no investments). The Super Funds are also weighing down the numbers at -50.\u201d<\/p>\n

\"\"<\/a>
Losses By Business Models (Peer Groups). July 1, 2023 to June 27, 2024.<\/strong> Courtesy of Wealth Data<\/figcaption><\/figure>\n

Williams also notes that the net\u00a0 loss in the table at -40 is different to the actual net loss of -48. He says this variance occurs due to a few advisers who are authorised at more than one licensee and appear in more than one business model.<\/p>\n","protected":false},"excerpt":{"rendered":"

A major decline in adviser numbers saw a net loss of 81 advisers, according to Wealth Data\u2019s latest analysis with the firm’s Colin Williams saying this week’s numbers were “a bit of a surprise”. Williams notes it may well be that many advisers are in the process of switching licensees. “However, switching this late into […]<\/p>\n","protected":false},"author":24,"featured_media":72209,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,3],"tags":[],"class_list":["post-72204","post","type-post","status-publish","format-standard","has-post-thumbnail","category-dealer-groups","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/72204","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=72204"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/72204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/72209"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=72204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=72204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=72204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}