The eastern seaboard of Australia represents great opportunity for advisers – from the waterways of Duungidjawu country that is Moreton Bay, to the hipster enclaves of North Melbourne. These are the regions ranked 6-10 in our countdown of the top 20 regions in Australia of “opportunity” for financial advisers.
The rankings of the 56 regions across Australia are determined by a number of factors including but not limited to population per adviser, FUA per adviser, growth rates and household income of the region. The rankings are one indicator of the opportunity that region represents to advisers in terms of employment, salary and client acquisition comparative to other regions across Australia.
So, here are the rankings 6-10:
10 / Inner East Melbourne
Easily accessed by tram, train and road, the inner eastern area of Melbourne is known among Melburnians as a working-class district, filled with pubs and old factories. It is home to the iconic suburbs of Collingwood, Fitzroy and Richmond, with each suburb having its own uniquely Melbourne feel and characteristics.
Key Stats:
Clients per adviser (Recurring): 81
FUA per adviser: $87M
Avg SMSF base per adviser: 20%
Most used investment platform: AMP North
Most used software: XPlan
Most used research house: Lonsec
Most used life insurer: AIA Australia
Most used investment consultant: Zenith Partners
Top adviser:
Practice Name: 360 Financial Strategists
Licensee: AMP Financial Planning
Rating: 4.98
Reviews: 76
Net Promoter Score: 99
9 / North Melbourne
Whether it’s a delicious meal shared over a cheeky red in Melbourne’s north-western suburb of Sunbury or a delectable burger from a burger bar in Melbourne’s south-eastern suburb of Doncaster East, North Melbourne is culturally impressive. It has the charm of the country, with all of the fun and excitement of the city.
Key Stats:
Clients per adviser (Recurring): 83
FUA per adviser: $65M
Avg SMSF base per adviser: 15%
Most used investment platform: CFS FirstChoice
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Mercer
Top adviser:
Practice Name: AFA Group Wealth
Licensee: Aura Wealth
Rating: 4.98
Reviews: 75
Net Promoter Score: 100
Passed FASEA exam: Yes
8/ Moreton Bay
Home to one Australia’s most important coastal resources, the waters of Moreton Bay are a popular destination for recreational anglers and are used extensively by commercial operators who provide seafood to market. It’s a fast growing vibrant community positioned just north of Brisbane, with the massive D’Aguilar Range enticing tourists with its lookouts and swimming holes.
Key Stats:
Clients per adviser (Recurring): 87
FUA per adviser: $44M
Avg SMSF base per adviser: 13%
Most used investment platform: AMP north
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Evidentia Group
Top adviser:
Practice Name: Greater Brisbane Financial Services
Licensee: Garvan
Rating: 4.75
Reviews: 39
Net Promoter Score: 79
Passed FASEA exam: Yes
7 / Brisbane CBD
Perched on the Brisbane River, Brisbane CBD is home to the third largest constituents of advisers in terms of regions across Australia. The affluence of Brisbane continues to grow, driven by property price growth and an expectation of post pandemic tourist activity from the southern states.
Key Stats:
Clients per adviser (Recurring): 69
FUA per adviser: $69M
Avg SMSF base per adviser: 17%
Most used investment platform: Macquarie Wrap
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: Zurich
Most used investment consultant: Morningstar
Top adviser:
Practice Name: River City Financial Planning
Licensee: Insight Investment Services
Rating: 4.93
Reviews: 111
Net Promoter Score: 93
Passed FASEA exam: Yes
6 / Hills District
"Sydney’s Bible Belt", the Hills district is strong conservative Liberal stronghold, with high levels of wealth and SMSF penetration. It is serviced by a relatively low number of financial advisers, representing significant opportunity for any adviser looking to move to the area.
Key Stats:
Clients per adviser (Recurring): 107
FUA per adviser: $70M
Avg SMSF base per adviser: 17%
Most used investment platform: BT Panorama
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Fund Manager
Top adviser:
Practice Name: Verante Financial Planning
Licensee: Viridian Select
Rating: 4.82
Reviews: 39
Net Promoter Score: 87
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