Colin Williams

Financial planning

ASIC levy to push advisers to exit before end of financial year

The end of the financial year will see a greater loss in adviser numbers than usual from advisers wanting to avoid the next round of the ASIC levy....

Financial planning

Over 100 advisers leave industry this week

The data from the Australian Securities and Investments Commission showed that the number of advisers dropped this week by 112 to 19,631. ...

Financial planning

Double authorisations skew adviser numbers

The decrease in adviser roles number this week was almost twice as many as the loss of actual advisers at 100 and 53, respectively, due to double authorisations, accordin...

Financial planning

Over 1,200 advisers quit year-to-date

Around 300 financial advisers are known to have passed their Financial Adviser Standards and Ethics Authority exam but left the industry this year, according to data. ...

Financial planning

PY numbers still not enough to sustain industry

Despite 400 new entrants doing their professional year, this number is far below what is required to sustain the industry....

Financial planning

Over 100 advisers leave the industry in a single week

This week 103 advisers left the industry during a period which saw a lot of adviser movement thanks to IOOF finalising its absorption of MLC Wealth advisers. ...

Financial planning

Total number of advisers drop below 20,000

This week saw a big drop in adviser numbers to 19,953 as licensees with limited advice services continued to cut advisers roles and advisers opting not to proceed with th...

Financial planning

MLC Group tops adviser losses table

This has been another week dominated by large licensees leading the rankings in terms of declining adviser roles, with MLC Group having reported a loss of 17 ahead of AMP...

Financial planning

10 more AFSLs close, advisers exit

Another 10 licensees chose to shut down, a move that represented a loss of a total of 17 adviser roles during a single week, according to HFS Consulting. ...

Financial planning

More licensees close as adviser numbers continue to drop

Another eight licensees chose to close this week, which translated into a loss of 15 adviser roles, while the number of actual advisers continued to drop to 22,201. ...

Financial planning

Why advisers aren't reporting FASEA exam results

Licensees are responsible for notifying the corporate regulator that their advisers have completed the exam, however finding whether an adviser has passed isn’t easily ac...

Financial planning

Adviser numbers still in net outflow

Gains in adviser numbers, counting year-to-date, are still lower than the losses at the licensee level, according to analysis from HFS Consulting....

Financial planning

Advisers exiting, licensees closing down

More than 200 adviser roles have been lost year to date compared to 761 lost roles in the first quarter of 2020, according to HFS Consulting’s analysis. ...

Financial planning

AMP FP falls through 800 adviser mark

AMP Financial Planning has seen its adviser numbers drop below 800 this week, according to HFS Consulting....

Financial planning

Another 30 advisers leave the industry this week

Although a quick look at the ASIC’s Financial Adviser Register shows a departure of another 33 advisers from the industry this week, it is equally important to understand...