Count reports net loss of five advisers
There was a net loss of 14 advisers last week with much of the movement seen at licensee Count.
According to research by Wealth Data for the week to 25 May, it was a quiet week for adviser numbers with much of the movement seen at Count.
The largest losses were seen at Count which reported a net loss of five. Count as a licensee lost net three, losing four and picking up one new entrant. Affinia (which was now part of Count) lost three and gained one, including some losses from management roles.
At the start of May, Count had grown by three advisers as two joined Affinia from Morgans and Infocus respectively.
The remaining adviser joined Count after a few years away from advice. Another adviser then joined later in the month.
Earlier this month, the firm rebranded from CountPlus to Count with 99 per cent shareholder approval as way to streamline its branding.
Five licensee owners lost two each including Findex, Steinhardt (Infocus) and Insignia while 12 licensee owners were down by one.
Growth was seen at United Super (Cbus), Spark Partnership, Sequoia and Centrepoint which all grew by one advisers.
Colin Williams, founder of Wealth Data, said: “A net loss of 14 advisers this week in what has been a quiet week in terms of the number of advisers either resigning or appointed at only 45.
“Some of the advisers who moved off the FAR this week may well re-join soon. However, over the last few weeks we have seen the calendar YTD number drop and is now at +29 after being at +64 on 1 March 2023.”
He added new entrant growth was still positive and there had been 144 new entrants since the start of the year, compared to 92 for the same period in the last year.
This was led by AMP Group who took on 14 new entrants followed by Diverger, Perpetual, Insignia, FSSSP (Aware Super) and APT Wealth Holdings.
AUTHOR
Laura Dew
Recommended for you
New York-based firm CC Capital has bumped up its offer to stay ahead of rival bidder Bain Capital.
In a tight race against Morgans, AMP Financial Planning has won back its position as the largest individual licensee in Australia, according to Wealth Data.
Learning to delegate authority and relinquish a hands-on approach is a critical step towards building a self-sustaining financial advice practice, says Assured Support.
Private wealth management company Stellan Capital has appointed a new chief executive, who brings over three decades of experience in the global financial services industry.
