Williams said it would be interesting to watch how many of these small accounting based licensees would remain post FASEA (the Financial Adviser Standards and Ethic Authority) exam requirements as their numbers were reducing each week.
“It could lead to opportunities for established advisers to form new relationships with accountants who are calling time on their short financial advice career,” Williams said.
Also, according to HFS’ analysis, this week saw 39 licensee owners make net losses for a total of (-77) adviser roles.
This was followed by 47 licensees having reported net adviser losses for a total of 81 adviser roles, with IOOF-owned Bridges Financial Services and Garvan Financial Planning (MLC) losing 15 and seven roles, respectively.
More than 60 licensees report net adviser loss moneymanagement.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneymanagement.com.au Daily Mail and Mail on Sunday newspapers.