Just two licensee groups, Centrepoint Alliance and Lifespan Financial Planning, have seen a net positive change in adviser numbers since the second half of 2021, according to research.
The figures by Wealth Data have looked at changes in adviser numbers by licensee between 1 July 2021 and 30 June 2023.
As of 30 June 2023, taking into account appointments and resignations, Centrepoint Alliance had a net change of 12. It had the third-highest number of authorised representatives (ARs) – 510 ARs – and saw 172 appointments and 160 resignations.
Meanwhile, Lifespan Financial Planning had 255 ARs, 76 appointments, and 71 resignations for a net change of 5.
The research found that overall, Insignia Financial had the highest number of authorised representatives (AR) of 975. It also had the highest net change (-457) from 196 appointments and 653 resignations.
With 246 ARs, NTAA saw the second-highest net change of -420 from 25 appointments and 445 resignations.
This was followed by AMP, which had 901 ARs, 145 appointments and 528 resignations that translated to a -383 net change.
Wealth Today, which had 428 ARs, had 93 appointments and 303 resignations (-210 net change) and Diverger, which had 396 ARs, 92 appointments, and 233 resignations (-141 net change).
Sequoia Wealth Management saw a net change of -38, with 107 appointments and 145 resignations.
CountPlus (now Count Limited) had 378 ARs, 132 appointments, and 161 resignations for a net change of -29.
Meanwhile, Capstone Financial Planning had the smallest negative net change of -3, with 71 appointments and 74 resignations.
There are currently 15,700 advisers as of 31 August 2023, a net change of -12 for the week and -99 for the calendar year to date according to Wealth Data.
In the new financial year to date, there has been a net change of +134.
