While the calendar year to date has seen a total net loss of 85 advisers in Australia, this is a vast improvement on the losses at the same time last year, Wealth Data’s analysis shows.
The research firm’s Colin Williams says while the loss of 85 advisers “…may seem a bit disappointing, given a positive start earlier in the year … at the same stage last year it was almost 10 times worse at minus 828.”
Wealth Data’s Weekly Financial Adviser Movement Dashboard shows that at the start of the year there were 15,800 advisers (17,169 in the prior period) operating across Australia. Current adviser numbers stand at 15,715 compared with 16,341 at the same time last year.
The table shows the loss of 85 advisers this calendar year equates to a drop of just 0.54% compared with a 4.82% drop at the same time last year.
The net change in licensee numbers in the calendar year to date is sitting at a gain of 30 licensees compared with a drop of 211 in the prior period.
