Profession hits triple-digit growth for the year

Wealth Data has reported a net rise of four advisers for the week ending 6 March, bolstered by 11 new entrants this week and marking a net increase of 100 advisers for the calendar year to date, bringing the current number of advisers up to 15,575.

In addition to the new entrants, this week also saw five new licensees commence and 107 advisers active in appointments and resignations, more than twice as many as the prior week (as at 27 February).

Breaking down movements among licensees, Oreana Financial Services gained five advisers, four from Fitzpatricks Private Wealth and one from Alliance Wealth - owned by Centrepoint Group.

However, Centrepoint Group still managed a net gain of five advisers as well this week, three of whom were previously with Fortnum, which is owned by Entireti.

One of the newly minted licensees gained three advisers, two from Infocus-owned Maddison and one from Amalgamated Financial Services. Picture Wealth Group also saw three new advisers join this week, two of which were new entrants while the other was from WT Financial Group’s Millennium3.

Furthermore, United Super and Minchin Moore Private Wealth Advisers both saw a net gain of two advisers, with United scoring one each from Mercer and Bridges, and Minchin taking on two of the new entrants from this week.

Another 28 licensee owners reported a net increase of one adviser each, including Politis Investment Strategies, Ord Minnett Group and Euroz Hartleys Group. The other four new licensees all commenced with one adviser.

Looking at declines, Entireti and Akumin Group was down by net six, five of which joined other licensees while the remaining adviser commenced their own Australian Financial Services (AFS) licensee.

Exelsuper Advice and Findex both reported a net loss of five advisers, with those from Exelsuper all moving to SGN Financial AFSL and none of those previously with Findex appointed elsewhere yet.

Count, GPS Wealth and Fitzpatricks saw a net loss of three each, while Lifestyle Asset Management lost net two and Infocus gained one and lost three who went on to start their own licensee, bringing the net loss to two.

Meanwhile, 20 licensees all reported a net loss of one each, including Canaccord Group, Lifespan and Rhombus Advisory.