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65% of advisers are privately licensed

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16 May 2023 by Keith Ford, Independent Financial Adviser

Article link: https://www.ifa.com.au/news/32790-65-of-advisers-are-privately-licensed

According to the latest Adviser Ratings Musical Chairs report, which was released on Monday, as at the end of March, there were 10,233 privately licensed advisers, accounting for the bulk of the profession.

Breaking the numbers down further, privately owned licensees with one to 10 advisers made up the largest single segment with 4,102 advisers, or 26 per cent of the profession. Privately owned licensees with 11 to 100 advisers made up 20 per cent of the profession with 3,147 advisers, while those with more than 100 advisers accounted for 19 per cent with 2,984 advisers.

The next largest segment in terms of size was diversified licensees, comprising 17 per cent of the profession, with 2,702 advisers. Stockbrokers were the only other segment to reach a double-digit percentage, accounting for 12 per cent with 1,895 advisers.

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