Perpetual tops valuable planner list
Perpetual Private Clients has the most valuable planners of the institutional financial planning groups according to data collected as part of the upcoming Money Management Top 100 Dealer Group survey.
According to funds under advice per adviser Perpetual was well ahead of its nearest institutional rival and was only surpassed in funds under advice per adviser by corporate superannuation advice group Telstra Super Financial Planning.
The Top 100 data shows that Perpetual Private Clients has 58 planners and $12.7 billion in funds under advice between 8400 clients. As a result Perpetual planners had an average of $21.8 million of funds under advice per adviser well ahead of the next planning group - The Principal Edge which had an average funds under advice per adviser of $143 million.
As a result of this The Principal Edge was the highest ranking non-institutionally aligned dealer group in the survey for funds under advice per adviser.
In other data collected in the survey financial planning software Xplan continued to rate well among financial planners with two thirds of planning groups surveyed reporting they use the software.
Of the 100 groups surveyed 43 reported they used Xplan while Coin and Midwinter were used by a further 21 planning groups. These ratios were reflected in the actual planner numbers reported using the various software packages with Xplan used by 6450 planners and Coin and Midwinter used by 4280 planners.
The Money Management Top 100 Dealer Group Survey will be released on this coming Thursday - 31 July.
AUTHOR
Jason Spits
Recommended for you
Two law firms have highlighted licensees’ responsibility to ensure they have sufficient cyber security measures in light of the enforcement action against Fortnum Private Wealth.
A former director has pleaded guilty to providing financial product advice without holding an AFSL which saw almost $2 million transferred to him.
Commonwealth Private Limited, a subsidiary of Commonwealth Bank of Australia, has launched a wholesale offering with the help of JPMAM.
Shaw and Partners’ new national head of private wealth believes the biggest challenge for financial advisers right now is being able to deliver efficient advice delivery amid a complex regulatory environment and growing investment universe.
