Adviser Loss Offset By Adviser Returns

In our recently published Musical Chairs report on adviser movements in the industry, we identified that the overall industry shrank by 3% in terms of total number of authorised representatives. However, we can reveal here that this drain was offset by a large cohort of previously ceased advisers returning to new dealer groups and re-engaging in the industry. We also note a surge in advisers switching between licensees, which is up by 70% from the previous quarter.