Adviser Additions and Reductions - Top Licensees for Quarter 3

Initial analysis of adviser movements in Quarter 3 of 2019 has seen overall adviser numbers decline by around 700 individuals. This equates to a contraction of almost 3% of the number of people authorised to offer financial advice – which currently stands at 24,772 people. The number of advisers represented in the institutionally owned and aligned space continues to wither, dropping a further 2.5% from Q2. Currently, just over 42% of advisers in the industry are authorised by institutionally owned or aligned licensee’s, with the number authorised by privately owned licensees sitting on nearly 58%.