With Insignia’s sale of Millennium3 now completed and seeing 140 advisers move over to WT Financial on Friday, this could cause a shift in which licensee closes out the year with the most advisers.
Following a 73 per cent pass rate in the August financial adviser exam, the highest since ASIC took over its administration, a high number of new entrants have joined the advice industry this week, according to Wealth Data.
Following a loss of 23 advisers over the last two weeks, the licensee’s current adviser numbers sit at just 20 compared to more than 120 in 2019, Wealth Data reports.