One-third of advisers considering licensee change
Almost one third of financial advisers are considering switching licensees within the next five years, with a quarter of those looking to establish their own Australian Financial Services Licence (AFSL), according to new research.
The CoreData annual licensee survey of more than 1000 advisers found that in the short term, only 14.7 per cent of advisers are considering moving dealer group in the next 12 months.
However, licensees should be concerned that a total of 31.7 per cent of advisers are looking to make a switch in the next five years.
While dealer groups may view this as a recruitment opportunity, the survey goes on to show that of those looking to shift, more than a quarter said they would shift to their own AFSL.
According to the survey, this trend could be the result of advisers ‘rebelling’ against the growing market presence of and consolidation of institutionally owned dealer groups.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
