Third week of advice industry growth


The number of financial advisers has grown for the third week in a row, adding 22 and bringing the total growth for the financial year to date to 170, according to Wealth Data.
Wealth Data’s Colin Williams said there was normally a spike in the early part of the financial year as growth at the same time last year was at 88 new advisers.
“Calendar year to date is showing a loss of -744, which is significantly better than the same time last year when it was -1,593,” he said.
At the licensee owner level, Natalie Wewer (AFSL Licensee Pty Ltd) was up seven with an array of advisers from different licensees. Meanwhile three licensee owners went up by a net of three including PSK Fin Services. Four owners went up by two including Insignia, Fiducian and ASVW Holdings Including
AMP Group had a difficult week, down eight after appointing three and losing eight. Two of the eight were lost to PSK who was associated with AMP Group. LGIASuper went down to zero as three advisers moved out and two joined Industry Funds Services, as part of the merger of the superfund.
In year-to-date figures, Count Group was up 35 after adding one this week, PSK was up to 64, Centrepoint Group and Castleguard (Lifespan) were up 14, Steinhardt (Infocus) was up 11 followed by Sequoia at 10.
Year-to-date losses were led by Insignia at -136, AMP Group -81 and Craigs Investment at -66.
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.