Page 27 - Wealth Data News Today

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

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 current rate continues.

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

The opportunities for advisers in the SMSF sector continue to grow according to the statistics from a leading data insights company. Wealth Data said the steady growth of SMSF establishments and the d

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.

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 2022.

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

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

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 growth.

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 week.