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In Brief: July Edition  

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Adviser numbers to plummet by 30%

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23/04/2021 by Sarah Kendell, ifa

Article link: https://www.ifa.com.au/news/29479-adviser-numbers-to-plummet-by-30?

The Adviser Ratings’ Advice Landscape report predicted that given current exit rates from the sector, and the group’s data around how many practitioners were planning to stay in the industry, just 13,154 advisers would be left in four years’ time, compared to 20,764 at the beginning of 2021.

The report found that exits were particularly common among risk specialists, who were exiting at a rate of 2.4 risk advisers for every one financial planner.

Assessing the “average” adviser in today’s market, the report found that the typical adviser was 48 years old, male, Victorian-based and typically serviced clients who were couples with an average age of 58.


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