There has been a “welcome jump” in the number of financial advisers in Australia, driven by another solid week of new entrants and a drop in the number of ceased advisers, according to Wealth Data.
The research firm’s Colin Williams says the total number of advisers currently sits at 15,700 a net change of 99 fewer advisers for the calendar year to date, and a lift of 140 advisers in the financial year to date.
Wealth Data’s latest chart on financial adviser movements across The Ditch also shows that in the 2023 year to date, the drop of 99 advisers (down 0.63%) compares with a loss of 1,309 advisers in the prior calendar year, a fall of 7.62%.
It also shows that so far this year 104 new licensees have opened (plus 127 in the prior period) while 51 licensees have ceased compared with a loss of 344 in the 2022 calendar year.