Advice industry records slight decline
![image](https://moneymanagement-live.s3-ap-southeast-2.amazonaws.com/s3fs-public/field/image/adviser%20sentiment%20outlook%20300.jpg)
![image](https://moneymanagement-live.s3-ap-southeast-2.amazonaws.com/s3fs-public/field/image/adviser%20sentiment%20outlook%20300.jpg)
The financial advice industry has declined by eight advisers to 16,400 this week with the financial year still looking strong, up 150 compared to 82 for the corresponding period last year, according to Wealth Data.
In growth this week, Ethical Planners Pty Ltd, (How To Retire Early) was up by four with three advisers moving across from National Advice Solutions.
ACT-based BLA Parker (Barnett Lilley) jumped by three with advisers who are still showing as authorised at Parker Wealth. Three licensee owners were are up net two, including Viridian, Bombora and Gary Thoroughgood (Vision Planning), with Vision Planning gaining their advisers from MCA Financial Planners.
Fifteen licensee owners had net gain of one including WT Financial Group, Highfield Group, Capstone and Australian Unity.
Looking at losses, Findex Group was down a net of four, losing five and gaining one. Gail Glasby (National Advice Solutions) was also down by net four with three advisers moving to Ethical Planners.
Oracle Investment Management fell by three while four licensee owners dropped by two including Insignia, Shaw and Partners and Telstra.
A total of 15 licensee owners dropped by one including Sequoia, ANZ Bank, Euroz, Fiducian and Unisuper.
Recommended for you
A NSW-based adviser has been banned from providing financial services for five years for inappropriate advice and the AFSL of his business has been cancelled by ASIC.
The introduction of Rhombus Advisory has caused a shift in the top advice licensees as Insignia separates its advice business into two channels.
Given the clear divergence between the cost of financial advice and clients’ willingness to pay, two experts explore how advisers can transform the way they convey value to potential clients.
Nearly 18 months since Invest Blue adopted its nine-day fortnight structure to support employee wellbeing, the national advice firm has enjoyed positive results across all metrics.