Wealth Data

Financial planning

Adviser numbers backtrack after strong growth

After growth of more than 30 last week thanks to record advice exam results, the financial advice profession has once again backtracked with double-digit losses, Wealth D...

Financial planning

Record exam results boost adviser growth

Following a 73 per cent pass rate in the August financial adviser exam, the highest since ASIC took over its administration, a high number of new entrants have joined the...

Financial planning

Which advice model is seeing the greatest adviser losses?

With the industry currently sitting at some 15,679 advisers, Wealth Data has crunched the numbers to find the business model witnessing the most departures in the calenda...

Financial planning

Count-Diverger merger to create 3rd largest licensee

The planned acquisition of Diverger by Count will create the third-largest licensee in Australia, behind Insignia and AMP....

Financial planning

Insignia outpaces AMP with over 100 adviser losses

Insignia is fast becoming the licensee to feel the biggest brunt of adviser departures, losing 24 this week and over 100 in the past calendar year, which is three times t...

Financial planning

Female advisers comprise less than a quarter of the profession

According to Wealth Data, less than a quarter of all financial advisers on the ASIC FAR are women, with the accounting and super fund business models having the highest n...

Financial planning

NextGen adviser numbers plummet

Following a loss of 23 advisers over the last two weeks, the licensee’s current adviser numbers sit at just 20 compared to more than 120 in 2019, Wealth Data reports....

Financial planning

‘Outbreak of common sense’ in experience pathway implementation

The experience pathway’s passage through Parliament has been welcomed by the industry as a way to prevent further adviser exodus....

Financial planning

Which licensees have stood out from the pack in the last two years?

Looking at changes in adviser numbers since H2 2021 in terms of appointments and resignations, research reveals just two licensee groups report a net positive change....

Financial planning

The challenge for BDMs in a new adviser landscape

In a shifting landscape that includes limited advice models and a growing number of micro-AFSLs, business development managers face new challenges in connecting with advi...

Financial planning

FAAA member numbers hit the ASIC FAR

Falling just short of previous forecasts, recent figures indicate FAAA members now comprise almost 50 per cent of the ASIC FAR, according to Wealth Data. ...

Financial planning

Micro-AFSLs v large licensees: who leads the way?

There are 300 more micro-AFSLs this year than in 2019, but the majority of advisers still work at large licensees with more than 100 advisers. ...

Financial planning

Client book no longer a barrier to advice recruitment

With the advice industry experiencing a loss of advisers, holding a solid client book is no longer a requirement as many firms may already have existing clients but lack ...

Financial planning

Experienced advisers stand firm as younger peers fold

Almost half of the advisers who have departed this year have been in the industry for less than 10 years while older advisers are pinning their hopes on the experience pa...