Strong gains in provisional advisers following exam
There was a net positive change of 20 advisers this week, helped by a double-digit gain in provisional advisers.
According to Wealth Data, in the week to 15 December, some 34 licensee owners had net gains of 41 advisers and 20 licensee owners had net losses of 21 advisers.
One new licensee commenced and one ceased.
There was good news on the provisional adviser front with 15 gaining during the week, up from three in the previous week. This included Evans Dixon which gained four advisers, all of whom were provisional advisers, and Masu Financial Management which appointed one.
Colin Williams, founder of Wealth Data, said: “A good number of new provisional advisers came onto the FAR this week. We often see this soon after the financial planning exam results are announced.”
The most-recent financial planning exam had a pass rate of 57% with 57% sitting the exam for the first time.
Telstra was up three advisers and Sequoia was up by two and there was a tail of 30 which were up by a net one.
Losses were “slim” this week, Wealth Data said, with Insignia down by two and 19 licensee owners down by one including
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