Slowdown in provisional adviser growth
There has been a slowdown in the growth of provisional advisers this week, according to data from Wealth Data.
Data for the week ending 28 October found there was growth of four provisional advisers and two who ceased after several strong weeks of higher numbers.
Overall, there was a net loss of five advisers indicating that losses following the expiry of the financial adviser exam deadline on 30 September had slowed down.
Some 20 licensee owners had net gains of 35 advisers and 22 licensee owners had net losses of 26 advisers. Three new licensees commenced and two ceased.
At the licensee owner level, Industry Super Holdings (ISH) showed growth of 15. However, 14 of the advisers were still authorised at LGSS Super, which had rebranded as Active Super. Wealth Data said it expected these advisers would transfer to ISH in due course.
Count was up by two followed by 18 licensee owners who had gained one each including Charter (AMP Group), Centrepoint and Steinhardt (InFocus).
WT Financial Group was down by three advisers with one commencing his own AFSL, Evans Dixon and Insignia were both down by two and there were 19 licensee owners who were down by one.
AUTHOR
Laura Dew
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