1. AMP Financial Planning

AMP Financial Planning has retained pole position as the top dealer group by funds under administration (FUA), with total FUA for 2009 at $32.816 billion, according to the Money Management Top 100 Dealer Groups survey. Understandably, its FUA were down from its total of $40.186 billion in 2008.

The dealer group was also ranked number two by size with 1,334 authorised representatives in 2009, up from 1,294 in 2008. AMP has ramped up its drive to boost numbers through its AMP Horizons Academy and recently launched a new program to help planners start up their own AMP-aligned practice.

2. Macquarie Equities

Macquarie Equities, the 2009 non-bank Dealer Group of the Year, saw a boost in FUA in 2009, stepping up from 25th position to second place. In 2009, FUA came in at $32 billion, up from just under $3.739 billion in 2008. The jump can be attributed to the inclusion of all of its operations rather than just its strategic financial planning business. Its actual size has not grown dramatically since 2008, with an increase in the number of authorised representatives growing by seven to 380 in 2009.

3. ABN Amro Morgans

ABN Amro Morgans dropped one place to third position in the Money Management rankings. FUA in 2009 dropped to $25.9 billion from $32 billion in 2008. The group is ranked seventh in terms of size, with 481 authorised representatives. As part of a Royal Bank of Scotland (RBS) global integration process, the group has been rebranded in Australia to RBS Morgans, which managing director Brian Sheahan said coincided with its next growth phase, which saw new branch offices opened in Melbourne and regional Queensland in October.

4. Commonwealth Financial Planning

Ranked fourth, Commonwealth Financial Planning saw FUA in 2009 at $20.886 billion, down from $24.332 billion in 2008. Adviser numbers have also dropped to 682 authorised representatives, which former managing director Tim Gunning said was due to natural attrition rather than redundancies. Gunning resigned in September, and Marianne Perkovic will take on the role in the New Year after leaving her role as chief executive at Count Financial.

5. Westpac Banking Corporation

Westpac Banking Corporation dropped to fifth place from fourth this year, with $16.297 billion in FUA. It also saw a significant drop in size, down from 515 authorised representatives in 2008 to 410 in 2009.

The group saw profits fall by 11 per cent in the year to September 30, 2009, as well as a 42 per cent fall in revenue. Westpac chief executive Gail Kelly said at the time that the bank’s performance was sound in what had been a challenging year, and in a statement to the Australian Securities Exchange the group said the St George merger would enable an expansion of its product offerings and distribution channels.