Stay updated with breaking news from Wealth Data. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The tripartite deal between Fortnum and AZ Next Generation Advisory, announced earlier this week, to acquire the financial advice arm of Australian Unity is a “reasonable fit”, according to Wealth Data.
Sequoia has announced plans to boost growth by acquiring sub-scale licensees, noting only 2 per cent of AFSLs have more than 100 advisers.
Six new financial advice licensees have begun operations in the past week and zero ceased, Wealth Data reveals, with more than 100 licensee owners commencing in 2023 alone.
An emerging debate has looked at whether self-licensed firms should be differentiated by virtue of their scale compared to institutional licensees and dealer groups when they carry the same regulatory obligations.
The number of advisers who have left the industry since the start of the year has reached triple figures, with 11 advisers leaving this week.