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Over 2,000 More Advisers Predicted To Exit Industry In 2022

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26 April, 2022 by Neil Griffiths, Independent Financial Adviser

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Following the release of its Landscape Report, technology and ratings business  Adviser Ratings  has predicted that a further 2,387 advisers will depart in the industry in 2022.

Only 1,200 risk specialist advisers currently remain.

It comes after it was revealed late last year that the number of Australian advisers shrank below 19,000 in 2021 and is predicted to reach 13,000 by the end of 2023.

In the report, which looked at how financial advice has been impacted by the changing nature of wealth management through a number of projects including over 40,000 surveys of advisers and consumers, also found that 234 licenses were discontinued in 2021; the largest number since tracking began in 2015.


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