Steinhardt Infocus News Today

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

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 Wealth Data.

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

Over 230 new entrants have appeared on the Financial Adviser Register since 1 July 2022 with their numbers cited as a key strategy for licensee growth.

Over 230 new entrants have appeared on the Financial Adviser Register since 1 July 2022 with their numbers cited as a key strategy for licensee growth.

An increase in the number of new advisers entering the sector since the back half of 2022 has helped licensees battle adviser attrition. According to Wealth Data, there was a net loss of six adviser

Despite heavy losses in adviser numbers throughout 2022, there has been further growth to begin 2023. According to Wealth Data, there was a net loss of six advisers over the week to 19 January, wi

The number of financial advisers has grown for the third week in a row, bringing the total growth for the financial year to date to 170, according to Wealth Data.

The overall drop in adviser numbers this week was driven by AMP Group which saw one of its practices moving to Fitzpatricks although 27 licensees saw gains.

It looks like the pace of advisers existing the industry has stabilised, with a net change in adviser numbers having been pushed into a positive territory for the second week in a row.