Adviser Movements Take a Breather Ahead of IOOF-MLC Resolution

The latest Musical Chairs Q3 2020 report has been released by Adviser Ratings. Net adviser outflows took a breather in the quarter, despite significant ongoing corporate actions headlined by the announced IOOF takeover of MLC. By end Q3 2020, the adviser population had reduced to 21,146, representing a net decline of 388 advisers (1.8%) from Q2 2020. This was comfortably the lowest quarterly decline since the industry started net contraction in 2018.