There remains a “strong appetite” for solo operators in the financial advice space, according to the latest Adviser Ratings’ Musical Chairs Report, making up over half of applications last quarter.
There are signs the financial advice industry is stabilising as Q3 2023 demonstrated the second-lowest number of exits in five years, according to Adviser Ratings’ quarterly report.
Five major platforms have reported significant growth in funds under administration in the last financial year and have carved out ambitious new targets moving forward.
Advisers moving to new licensees numbered 650 in the third quarter of 2022. The third quarter saw 650 advisers set up somewhere new and marked the busiest quarter for adviser switches in over a year,