Endeavor Asset Management has added 24 financial advisers to its AFSL, with overall adviser numbers rising by more than a dozen this week.
In the week ending 30 January, Wealth Data recorded a net rise of 15 advisers, thanks to the 12 new entrants who joined the profession. Two new licensees opened up shop and two ceased operations.
Some 27 licensee owners welcomed net gains of 59 advisers during the week. This was led by Endeavor Asset Management (EAM), which has offices located in Melbourne and Perth.
The Australian fund manager increased by 24 advisers, bringing their overall numbers to 26 advisers.
Wealth Data founder and director Colin Williams noted that 23 of these advisers are still currently authorised at Wealth Trail, which he said “appears to have a common ownership link with EAM”.
In October 2023, EAM announced a new equity investor in Chris MacEachern, who is the managing director at Melbourne-based Freedom Finance Australia (FFA). Wealth Trail previously traded under the name of FFA.
Beyond EAM, three licensee owners gained three advisers each. This included Entireti after it appointed two new entrants and one adviser who returned from a break, while Count hired a new entrant at Paragem and two advisers at GPS Wealth.
Three licensee owners also increased by two advisers each, with PictureWealth welcoming one adviser from Aware Super and another who returned from a break. Koda Capital hired a new entrant and another adviser coming back from a break, and SGN Financial added one adviser from Visis and an adviser who returned to advice.
A tail of 20 licensee owners were up by one adviser each, such as Insignia Financial, Lifespan Financial Planning and Fiducian. Moreover, both new licensees commenced with one adviser each.
In terms of adviser losses, 21 licensee owners experienced net losses of 35 advisers in total.
Mont Partners saw the highest losses after it declined by 14 advisers. Williams observed: “As noted over the last two weeks, advisers from Mont Partners were recently also authorised at Gallagher Benefits Group. None of the 14 are showing as being ceased.”
Sequoia Financial Group bid farewell to two advisers from its InterPrac licensee, with both not appearing as appointed elsewhere yet.
Finally, 19 licensee owners lost one adviser each, such as Bombora, Oracle Investment Group and the two licensees that ceased.
