In the words of the Leyland Brothers, “we’ll travel all over the countryside”. In the next 4 editions, we’ll highlight the top 20 regions in Australia for advisers and the advice profession.
The rankings of the 56 regions across Australia are determined by a number of factors including but not limited to population per adviser, FUA per adviser, growth rates and household income of the region. The rankings are one indicator of the opportunity that region represents to advisers in terms of employment, salary and client acquisition comparative to other regions across Australia.
So, we’ll start off with rankings 20-16:
20 / Regional South Australia
Defined by rolling hills and gullies, regional South Australia is a tourist hub for national and international visitors. Home to the world recognised Barossa wine region, 116 advisers call this part of Australia home.
Key Stats:
Clients per adviser (Recurring): 103
FUA per adviser: $66M
Avg SMSF base per adviser: 20%
Most used investment platform: CFS FirstChoice
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Lonsec
Top adviser: Jeremy Kells
Practice Name: East Private Wealth
Licensee: Oreana Financial Services
Rating: 4.72
Reviews: 25
Net Promoter Score: 88
Passed FASEA exam: Yes
19 / Melbourne South East & Mornington Peninsula
Known for its village atmosphere and its beaches, the Mornington peninsula has seen significant population growth in the last 5 years. Combined, the regions are home to 511 advisers and 302 practices.
Key Stats:
Clients per adviser (Recurring): 99
FUA per adviser: $48M
Avg SMSF base per adviser: 19%
Most used investment platform: CFS FirstChoice
Most used software: XPlan
Most used research house: Lonsec
Most used life insurer: TAL
Most used investment consultant: Lonsec
Top adviser: Dean Hutchins
Practice Name: Diversified Financial Planners
Licensee: AMP
Rating: 4.87
Reviews: 44
Net Promoter Score: 89
Passed FASEA exam: Yes
18 / New England
Dominated by the Northern Tablelands plateau, New England is an area well known for its coal mining, cattle and sheep farming. Home to 96 financial advisers, with 10 planners leaving the industry in the last year.
Key Stats:
Clients per adviser: (Recurring) 92
FUA per adviser: $82M
Avg SMSF base per adviser: 41%
Most used investment platform: Macquarie Wrap
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: MLC Wrap
Most used investment consultant: Morningstar
Top adviser: Matt Meehan
Practice Name: Lifesolver Financial
Licensee: Agbis
Rating: 4.71
Reviews: 21
Net Promoter Score: 76
17 / Bendigo
The iconic mining town is home to the Bendigonians. Upon striking gold, its residents have the choice of 78 advisers within 36 practices.
Key Stats:
Clients per adviser (Recurring): 84
FUA per adviser: $61M
Avg SMSF base per adviser: 6%
Most used investment platform: netwealth
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Morningstar
Top adviser: Mike Camm
Practice Name: Venture Financial Planning
Licensee: Count Financial
Rating: 4.80
Reviews: 67
Net Promoter Score: 90
16 / Illawarra, Southern Highlands and Shoalhaven
The grassy coastal plains are home to the Shoalhaven river and 251 advisers. All up there 106 practices in the region, represented by 24 licensees.
Key Stats:
Clients per adviser: (Recurring) 93
FUA per adviser: $72M
Avg SMSF base per adviser: 22%
Most used investment platform: Netwealth
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Mercer
Top adviser: Nerida Hicks
Practice Name: Scion Advice
Licensee: Oreana Financial Services
Rating: 4.73
Reviews: 231
Net Promoter Score: 76
Passed FASEA exam: Yes
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