Colin Williams

Financial planning

Small is the new big for financial planner growth

New licensees offering holistic advice have seen a net growth of 120 adviser roles since the start of the year and are the fastest-growing type of financial planners, acc...

Financial planning

FASEA believes exam is 'fair'

While the authority argues the high pass rate shows it is an achievable exam for “competent” advisers and has been a boost for consumer confidence in the industry, data s...

Financial planning

Super funds planners have highest FASEA exam pass rate

Financial planners at super fund-based advice have seen the highest percentage of those who have passed the Financial Adviser Standards and Ethics Authority exams. ...

Financial planning

Only 163 advisers entered industry since 2019

Given the ongoing ultra-low numbers of new advisers entering the industry post 2018, adviser losses equate to around 760 advisers each year since, according to Wealth Dat...

Financial planning

Rate of adviser exits to prolong

The current forecast still assumes the number of advisers will fall and plateau to 15,000 but this may take longer than initially predicted thanks to recent exam relief m...

Financial planning

EOFY sees largest weekly adviser exodus at 549

This week accounting-based advisers dominated adviser losses as many did not want to pay additional levies by the corporate regulator, and AMP FP regain its top spot as l...

Financial planning

ASIC levy to push advisers to exit before end of financial year

The end of the financial year will see a greater loss in adviser numbers than usual from advisers wanting to avoid the next round of the ASIC levy....

Financial planning

Over 100 advisers leave industry this week

The data from the Australian Securities and Investments Commission showed that the number of advisers dropped this week by 112 to 19,631. ...

Financial planning

Double authorisations skew adviser numbers

The decrease in adviser roles number this week was almost twice as many as the loss of actual advisers at 100 and 53, respectively, due to double authorisations, accordin...

Financial planning

Over 1,200 advisers quit year-to-date

Around 300 financial advisers are known to have passed their Financial Adviser Standards and Ethics Authority exam but left the industry this year, according to data. ...

Financial planning

PY numbers still not enough to sustain industry

Despite 400 new entrants doing their professional year, this number is far below what is required to sustain the industry....

Financial planning

Over 100 advisers leave the industry in a single week

This week 103 advisers left the industry during a period which saw a lot of adviser movement thanks to IOOF finalising its absorption of MLC Wealth advisers. ...

Financial planning

Total number of advisers drop below 20,000

This week saw a big drop in adviser numbers to 19,953 as licensees with limited advice services continued to cut advisers roles and advisers opting not to proceed with th...

Financial planning

MLC Group tops adviser losses table

This has been another week dominated by large licensees leading the rankings in terms of declining adviser roles, with MLC Group having reported a loss of 17 ahead of AMP...

Financial planning

10 more AFSLs close, advisers exit

Another 10 licensees chose to shut down, a move that represented a loss of a total of 17 adviser roles during a single week, according to HFS Consulting. ...