The sole licensee group seeing growing adviser numbers
There is only one licensee group which is showing positive movement over the last 12 months, according to WealthData.
This was Count Group which gained 38 advisers over the last 12 months and also saw positive movements over six months, gaining eight advisers.
The firm which saw the biggest losses over 12 months was Insignia which lost 239 advisers. However, the losses had lessened over the last six months with 62 losses over six months and a positive gain of two advisers over one month.
Other firms which have seen losses included AMP Group, which lost 111 over six months, and WT Financial Group which lost 147.
Wealth Data founder, Colin Williams, said the move to being self-licensed had been a big factor for adviser losses with AMP losing 51 advisers to small licensees and Insignia losing 88.
Looking at weekly statistics, there had been a negative change of four advisers in the week to 24 November.
Some 23 licensee owners had net gains of 28 advisers while 24 licensee owners had net losses of 30 advisers. Some five new licensees commenced and three ceased.
Industry Super Holdings grew by a net of two advisers as did Christopher Humphrey while there was a tail of 20 licensees which were up by a net of one adviser. Diverger and Financial Link Group were both down by three advisers and a tail of 20 licensees had losses of one.
Financial Link Group, in particular, had had “a tough year” with adviser numbers falling from 98 at the start of the year to 46 today.
There were 10 provisional advisers who commenced and none ceased and Wealth Data noted five of these had joined Insignia. Insignia had now overtaken AMP for the number of provisional advisers at 24, three higher than AMP.
AUTHOR
Laura Dew
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