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Industry to shed 2,400 advisers by year's end

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28 May 2022 by Maja Garaca Djurdjevic, Independent Financial Adviser

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The year 2022 is expected to be another devastating year for financial adviser numbers, with Adviser Ratings suggesting that another 2,387 advisers are going to make their exit across this calendar year. This, according to research by Adviser Ratings and Vanguard, will take the universe below the 15,000 mark for the first time.

“Adviser Ratings has not been shy about making bold predictions on the direction of adviser numbers. Based on several inputs, including attrition to date, as well as the impact of education mandates and patterns in the UK after the Retail Distribution Review, we have long said the universe would fall below 15,000,” the Australian Financial Advice Landscape report reads.


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