Count to leapfrog Insignia adviser numbers

Looking at the market landscape in the week ending 22 February, the group of Count and Diverger, which is due to be combined on 1 March, would have a total of 729 advisers.

Wealth Data founder Colin Williams noted that 575 of these could be deemed “holistic” advisers, while the remaining 154 are restricted to SMSF advice.

Insignia announced on Thursday that Godfrey Pembroke, which currently has 52 advisers, is no longer part of the group. With this announcement, the total number of advisers at Insignia will drop from 779 to 727, which would take it below Count once the Diverger acquisition is complete.

“On the assumption that the above will proceed in the coming weeks, in total numbers, Count will leapfrog Insignia to be the second-largest group of advisers at 729, 142 behind AMP Group who have 871 and two advisers ahead of Insignia at 727,” observed Mr Williams.

“The next few weeks are expected to be volatile as Count formally swallows up Diverger and Godfrey Pembroke exits Insignia.”

Movement this week

There was a net loss of 10 advisers during the week, according to Wealth Data, with 81 advisers active with appointments and resignations, leaving the current number of advisers sitting at 15,634.

Since the beginning of the calendar year, there has been a net change of 21 advisers, while a net change of 80 for the financial year-to-date.

“Six new entrants commenced, indicating that 16 more experienced advisers exited the ASIC FAR,” noted Mr Williams.

Meanwhile, two new licensees commenced this week and twice as many have ceased.

Looking at the weekly declines, 35 licensee owners had a net loss of 38 advisers.

AAN Wealth Management and Akela Ventures are both down two advisers, all of which are yet to be appointed elsewhere.

Notably, two advisers also moved away from Alteris Financial Group, joining a licensee that commenced this week, Wealth Data revealed.

In terms of growth this week, a tail of 24 licensee owners increased by one adviser each, such as WT Financial Group, Perpetual, Industry Super Holdings, and Bannister Consulting.

Centrepoint is leading the pack this calendar year with an increase of two advisers this week, bringing their total growth up to 14, to make them the growth leader this year-to-date. This week they hired three advisers, including a new entrant, and lost one adviser.