Wealth Data

Financial planning

The number of advisers has slightly stabilised after a couple of busy weeks at the end of the financial year, with numbers looking more optimistic in the coming weeks, ac...

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

Most adviser 'downsizing' has run its course

Centrepoint Alliance has lost most of the adviser roles it expects to lose and it expects only a small cohort to drop-off at the end of the year....

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

Will IOOF overtake AMP as largest licensee?

With its acquisition of MLC Wealth, IOOF now has around 1,500 authorised representatives surpassing AMP’s 1,443. ...