There was a net loss of four advisers this week, according to Wealth Data, with over 100 advisers active with appointments and resignations.
In the week ending 15 February, some 116 advisers were active with appointments and resignations and there was a net loss of four, leaving the total current number of advisers sitting at 15,644.
Since the beginning of the calendar year, there has been a net change of 30 advisers, while a net change of 87 for the financial year-to-date.
“We have seen over 90 advisers affected by change each week since 1 January 2024,” observed Colin Williams, Wealth Data founder. “This number can include switches and also includes resignations, new entrants and sometimes advisers coming back in after a break.”
Six new entrants joined the advice profession this week. Meanwhile, two new licensees commenced and one ceased.
Looking at the weekly declines, 27 licensee owners had net losses of 57 advisers and 32 licensee owners had net gains of 41 advisers.
Crown Wealth led the pack of losses with a significant drop of 22 advisers, however Williams noted this was due to most of these advisers being appointed earlier in the year at different licensees.
Count lost four advisers this week and WT Financial Group was down by three. Four licensees lost two advisers, including Fortnum.
A tail of 20 licensee owners declined by one adviser each, such as Macquarie Group, Politis and Fiducian.
In terms of adviser growth, a new licensee commenced operations with four advisers, which Wealth Data identified as a former practice of Fortnum.
Four licensees increased by net two advisers each; Centrepoint Group, Castleguard Trust (Lifespan), Australian Financial Planning Group and AMP Group.
Meanwhile, 26 licensee owners were up by net one each, including Shaw and Partners, Koda Capital, Clime and Insignia Financial.
