Page 26 - Wealth Data News Today

The licensee has lost 92 advisers since the start of the calendar year, according to Wealth Data, including 12 in the past week.

AMP has fallen to less than 900, according to Wealth Data, some 10 months after dropping below the 1,000 milestone.

If super funds are to provide advice, they are encouraged to form agreements with external financial planning firms to expand their footprint beyond the major CBDs, according to Wealth Data.

Minister for Financial Services, Stephen Jones, believes the industry can return to 30,000 advisers but new pathways are needed as it is unrealistic to expect people to want to become advisers at 18.

The financial planning-accounting business model is the only one to have seen growth in its adviser numbers since 1 July 2022, according to Wealth Data.

Money Management has collated five key takeaways from the Wealth Data weekly adviser movements over the last 12 months and how the adviser landscape has changed.

Final advice industry end of financial year figures show the profession lost 599 advisers over the FY22–23 period. According to Wealth Data figures, FY22–23 began with 16,183 advisers on the Fin

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

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.

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.