colin williams

Of the 8,946 practitioner advisers who belonged to either industry group before their April merger, 8,093 have renewed their membership with the merged entity. The FAAA was “very pleased” with the 90 per cent renewal rate, its CEO said, urging stragglers to renew before a grace period ends next month.

Whether an adviser is based in their state’s capital city or not has more to do with their chosen business model than anything else, according to new research from Wealth Data.

The green shoots that emerged for adviser numbers in the back half of 2022 were no fluke, with provisional advisers leading an industry resurgence after five years of decline.

As the quantum of advisers has decreased those that remain have consolidated client books, which has led to a higher proportion of high-balance SMSFs coming under advice.