Advice industry records slight decline
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.
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Liam Cormican
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Despite the year almost at an end, advisers have been considerably active in licensee switching this week while the profession has reported a slight uptick in numbers.
