From the banks of the Parramatta River to the expansive bike lanes of the nation’s capital we finally end up in the city, where cool is defined by drinking beer whilst getting a haircut, that is Melbourne CBD. These are the regions ranked 1-5 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 1-5:
5 / Parramatta / Ryde
Home to the mighty Parramatta Eels (yes, I’m a supporter!), Parramatta is often regarded as the CBD of Greater Western Sydney. It has a relatively youthful market and has been growing at a significant rate as public and corporate money flows into the area.
Key Stats:
Clients per adviser (Recurring): 82
FUA per adviser: $77M
Avg SMSF base per adviser: 18%
Most used investment platform: Macquarie Wrap
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Lonsec
Top adviser:
Steve Clarke
Practice Name: Constellation Financial Planning
Licensee: Libertas Financial Planning
Rating: 4.94
Reviews: 94
Net Promoter Score: 96
Passed FASEA exam: Yes
4 / ACT
The nation’s capital is comprised of a highly affluent workforce, with low unemployment and a younger set. It has been growing at a significant rate as Sydneysiders set up home, although property prices have been rising steadily in response to the influx of migration.
Key Stats:
Clients per adviser (Recurring): 91
FUA per adviser: $72M
Avg SMSF base per adviser: 18%
Most used investment platform: Macquarie Wrap
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Morningstar
Top adviser:
Phil Thompson
Practice Name: Rise Financial
Licensee: Rise Financial
Rating: 4.78
Reviews: 361
Net Promoter Score 87
Passed FASEA exam Yes
3 / Sunshine Coast
The Eumundi markets, the Big Pineapple, Steve Irwin’s Australia Zoo and the European feel of Noosa Parade – what’s not to love about the Sunshine Coast. And it seems many Australian’s agree, with population growth at 21% and long revered as a retirement spot for those ready to spend their days beaching and fishing.
Key Stats:
Clients per adviser (Recurring): 89
FUA per adviser: $59M
Avg SMSF base per adviser: 23%
Most used investment platform: Macquarie Wrap
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: AIA Australia
Most used investment consultant: Lonsec
Top adviser:
Brendan O’Reilly
Practice Name: Peak Advice
Licensee: Capstone Financial Planning
Rating: 4.75
Reviews: 92
Net Promoter Score: 76
Passed FASEA exam: Yes
2 / Sydney CBD
Australia’s largest city, picturesque with its postcard harbour backdrop, is considered the financial hub of the country. Many advice firms have set up shop to service the well heeled professional workforce that travel into Sydney’s CBD.
Key Stats:
Clients per adviser (Recurring): 66
FUA per adviser: $96M
Avg SMSF base per adviser: 34%
Most used investment platform: Macquarie Wrap
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: TAL
Most used investment consultant: Fund Manager
Top adviser:
Lachlan Baker
Practice Name: Franc Mark Sterling
Licensee: Affinia
Rating: 4.85
Reviews: 112
Net Promoter Score: 84
1 / Melbourne CBD
The number one opportunity for advisers in Australia goes to Melbourne’s CBD. A hive of bustling, sports-mad, art-loving Melbournians, it is home to more advisers than any other regions in Australia. Despite the highest number of advisers, all other factors make it so Melbourne takes the mantle this year from Sydney CBD.
Key Stats:
Clients per adviser (Recurring): 82
FUA per adviser: $91M
Avg SMSF base per adviser: 34%
Most used investment platform: Macquarie Wrap
Most used software: XPlan
Most used research house: Morningstar
Most used life insurer: AIA Australia
Most used investment consultant: Fund Manager
Top adviser:
Scott Haywood
Practice Name: Haywood Financial Management & Partners
Licensee: Interprac Financial Planning
Rating: 4.78
Reviews: 155
Net Promoter Score: 82
You can read all the highlights from our travels across the Top 20 regions in Australia for the Advice Profession in our previous three editions of this series. Review the key stats and the top advisers for the top 20 regions below:
Article by:
Comments1
"361 reviews? Phil must work 24x7 "
Martin Baker 16:33 on 12 May 21