Wealth Data

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

Will IOOF overtake AMP as largest licensee?

With its acquisition of MLC Wealth, IOOF now has around 1,500 authorised representatives surpassing AMP’s 1,443. ...