Zero change in adviser numbers last week

Wealth Data reported a net increase of 52 adviser numbers year-to-date, but in the week leading up to 16 March, 69 advisers either resigned or were appointed.

Commenting on the data, Wealth Data founder Colin Williams said: “The first ‘zero’ change week that I can recall since putting out the weekly updates.

“We still saw 69 advisers who either resigned or were appointed and that number has been hovering around 70 for the past few weeks.”

Capstone was the only licensee to experience growth of more than one adviser, with a net increase of two advisers.

Morgans Group, AMP Group, UniSuper, and Canaccord were among 23 licensee owners that had a net growth of one adviser, while there were two new licensees that commenced with one adviser each.

WT Financial Group lost five advisers and hired one for a net loss of four. NAB Group, Sequoia, and Troy Macmillan (TWD Licensee Services) all fell by two advisers.

Clime Group, Macquarie Group, Insignia, and Findex Group were among 16 licensee owners down one adviser each, while two licensees that shut down also lost one adviser each.

Wealth Data added that following Count Plus’ acquisition of TAL-owned Affinia Financial Advisers last week, Count Plus is now the seventh largest licensee group with 390 advisers in total.