{"id":72395,"date":"2024-07-15T12:06:30","date_gmt":"2024-07-15T02:06:30","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=72395"},"modified":"2024-07-23T11:12:48","modified_gmt":"2024-07-23T01:12:48","slug":"micro-afsls-on-the-rise","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2024\/07\/15\/micro-afsls-on-the-rise\/","title":{"rendered":"Micro AFSLs on the Rise"},"content":{"rendered":"<p>The rise of Micro AFSLs is highlighted in a presentation by <a href=\"https:\/\/wealthdata.com.au\" target=\"_blank\" rel=\"noopener\">Wealth Data<\/a> looking at financial adviser movements for the 2023\/24 financial year.<\/p>\n<figure id=\"attachment_56513\" aria-describedby=\"caption-attachment-56513\" style=\"width: 150px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2021\/07\/colin-williams.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-56513\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2021\/07\/colin-williams.jpeg\" alt=\"\" width=\"150\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-56513\" class=\"wp-caption-text\">Colin Williams<\/figcaption><\/figure>\n<p>Looking at new licensees, the firm\u2019s <strong>Colin Williams, <\/strong>says that in this latest financial year none of the new Financial Planning licensees currently have 10 or more advisers.<\/p>\n<p>He says of the 92 new licensees in this sector:<\/p>\n<ul>\n<li>\u00a051 only have one adviser<\/li>\n<li>\u00a025 have two advisers<\/li>\n<li>\u00a011 have three to four advisers<\/li>\n<li>Five have five to nine advisers<\/li>\n<\/ul>\n<p>Looking at the Accounting \u2013 Financial Planning model Williams says this business model has shown modest growth over both the 2022-23 and the 2023-24 fiscal years.<\/p>\n<p>\u201cThis is mostly due to new licensees being formed under this model and the advisers (practices), were previously managed by large licensees linked to the financial planning business model.&#8221;<\/p>\n<p>Of Accounting \u2013 Limited Advice he says this business model continues to decline at the highest rate of all business models.<\/p>\n<p>In the 2022-23 financial year, Williams says of the new licensees, only one of the new Financial Planning licensees currently has 20 or more advisers. More than half have either one or two advisers.<\/p>\n<p><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-72396\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-1.jpg\" alt=\"\" width=\"1254\" height=\"79\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-1.jpg 1254w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-1-300x19.jpg 300w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-1-1024x65.jpg 1024w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-1-768x48.jpg 768w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-1-696x44.jpg 696w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-1-1068x67.jpg 1068w\" sizes=\"auto, (max-width: 1254px) 100vw, 1254px\" \/><\/a><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-72397\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-2.jpg\" alt=\"\" width=\"1007\" height=\"376\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-2.jpg 1007w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-2-300x112.jpg 300w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-2-768x287.jpg 768w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-2-696x260.jpg 696w\" sizes=\"auto, (max-width: 1007px) 100vw, 1007px\" \/><\/a><\/p>\n<figure id=\"attachment_72398\" aria-describedby=\"caption-attachment-72398\" style=\"width: 1013px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-3.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-72398\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-3.jpg\" alt=\"\" width=\"1013\" height=\"353\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-3.jpg 1013w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-3-300x105.jpg 300w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-3-768x268.jpg 768w, https:\/\/riskinfo.com.au\/news\/files\/2024\/07\/wealth-data-3-696x243.jpg 696w\" sizes=\"auto, (max-width: 1013px) 100vw, 1013px\" \/><\/a><figcaption id=\"caption-attachment-72398\" class=\"wp-caption-text\">Courtesy of Wealth Data presentation on 2023-24 Adviser Movements.<\/figcaption><\/figure>\n<p>Williams&#8217; presentation also includes charts delving into:<\/p>\n<ul>\n<li>Overview of the adviser market Since 2017 \u2013 By Calendar Year<\/li>\n<li>Financial Year 2023\/24 Versus 2022\/23<\/li>\n<li>Licensee Owners \u2013 Most and Least Growth<\/li>\n<li>New Entrants and Ceased Advisers<\/li>\n<li>Composition Change By Licensee<\/li>\n<\/ul>\n<p><a href=\"https:\/\/wealthdata.com.au\/store\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to access the full presentation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rise of Micro AFSLs is highlighted in a presentation by Wealth Data looking at financial adviser movements for the 2023\/24 financial year. Looking at new licensees, the firm\u2019s Colin Williams, says that in this latest financial year none of the new Financial Planning licensees currently have 10 or more advisers. He says of the [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":72404,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,3],"tags":[],"class_list":{"0":"post-72395","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dealer-groups","8":"category-general"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/72395","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=72395"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/72395\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/72404"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=72395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=72395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=72395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}