Wealth Data

Financial planning

Wealth Data has shared how many advisers left the industry in the last financial year and how they compare to the previous financial year....

Financial planning

Significant loss of 46 advisers marks end of FY2022–23

Going into the end of the financial year, adviser movements remain disappointing with a large loss of 46 advisers for the week, according to Wealth Data....

Financial planning

June sees spike in ceased advisers on FAR

The number of ceased advisers has risen by 73 advisers since the start of June and further losses are expecting in the run-up to the end of financial year....

Financial planning

Over 170 advisers have faced disciplinary action since 2015

New analysis from Wealth Data has revealed that some 175 advisers have been affected by disciplinary actions over the last nine years....

Financial planning

Advisers ceasing at twice the rate of new entrants

The number of advisers who have ceased during 2023 is at 365, more than double the new entrants over the same period, and could approach 900 by the end of the year if the...

Financial planning

Count reports net loss of five advisers

There was a double-digit loss of advisers last week with much of the weekly movement seen at licensee Count....

Financial planning

Upward trend in advice entrants continues

There continues to be slow but steady growth in adviser numbers, with the number increasing to 15,846 following a small net gain of one adviser this week, according to We...

Financial planning

Where does relevant provider registration with ASIC now stand?

ASIC’s senior executive leader, Leah Sciacca, has provided an update on the status of financial adviser registration with the regulator since it was delayed in November 2...

Financial planning

AMP loses over 150 advisers in a year

Whilst micro-AFSLs’ numbers continue to grow, larger licensees including AMP and Insignia Financial are struggling to hold down their advisers....

Financial planning

Insignia advisers dwindle as micro-AFSLs grow

The number of Insignia advisers has fallen to nearly 1,000, with the advice firm losing 72 advisers to micro-AFSLs over the years. ...

Financial planning

Holistic advice licensees buck growth trend

The overall number of licensees has fallen by 15 per cent since January 2021, according to Wealth Data, but those focused solely on holistic advice have seen positive gro...

Financial planning

Will experience pathway help stem adviser exits?

The extension of the experience pathway by two extra years means another 424 advisers lacking degrees could be eligible as the industry sees double-digit departures this ...

Financial planning

Thousands of advisers still lacking approved degrees

There are still over 3,000 financial advisers on the Financial Advisers Register (FAR) who are without a degree and expect to rely on the experience pathway to continue t...

Financial planning

New FAAA members to dominate FAR

If all FPA/AFA members join, over half of the Financial Advisers Register could be members of the new FAAA and the organisation will have to work to meet the needs of the...