The number of financial advisers has stabilised above the 15,600 mark as 2023 comes to an end, while Wealth Data confirms AMP now leads as the largest licensee.
Just weeks after the acquisition was announced, Insignia Financial and WT Financial Group have finalised the transfer of Millennium3, adding 75 practices to the latter s network.
With the growth in micro-AFSLs and self-licensing, Lifespan chief executive Eugene Ardino is looking to double the number of AFSLs it services through its Lifespan Partnership.
With Insignia’s sale of Millennium3 now completed and seeing 140 advisers move over to WT Financial on Friday, this could cause a shift in which licensee closes out the year with the most advisers.
WT Financial Group managing director, Keith Cullen, believes the current M&A activity in financial advice is long overdue, having been accused of “running into a burning building” when it embarked on its M&A strategy in 2018.