IFA's Dealer Group Survey reveals the top 100 dealer groups, by size, the big winners and losers, and analysis of what the figures mean.
Welcome to the latest IFA Dealer Group Survey prepared by InvestorSupermarket, Australia's leading prospecting and market intelligence database servicing the institutional and retail funds management industry.
The latest Dealer Group Survey results revealed funds under advice (FUA) growth slowed over the second half of 2007 as Australia was caught in the wave of volatility spreading across global financial markets as a result of the deterioration of the United States sub-prime mortgage market and the prospect of a slowdown in the US economy.
FUA only increased 5.3 per cent in the second half of 2007, compared to 12 per cent in the first half.
The survey results showed growth in the total number of advisers also slowed, up 3.8 per cent in the second half compared to 4.5 per cent in the first half. In 2007, the total number of advisers employed by the surveyed dealer groups increased by 1163 to 14,784.
Professional Investment Services remained strong in first place with 1540 advisers and $18 billion in FUA, up 5.1 per cent and 7.1 per cent respectively for the six months to December 2007.
AMP Financial Planning followed in second place with adviser numbers rising 6.5 per cent to 1295 and FUA up 1.7 per cent to $43.7 billion during the same period.
Colonial First State FirstChoice was again the platform used by most dealer groups with 52 per cent of the top 100 using it.
BT Wrap and Macquarie Wrap tied in second place with 41 per cent of the top 100 using them. However, BT Wrap was a preferred platform for 22 per cent, while Colonial First State FirstChoice and Macquarie Wrap followed closely with 21 per cent and 20 per cent respectively.
The latest Dealer Group Survey has expanded and includes for the first time information on financial planning and risk software, and business coach usage.
Iress dominated the financial planning and risk software markets, with Xplan and VisiPlan products used by 58 per cent and 44 per cent respectively of the top 100.
In second spot, Coin provided financial planning software for 26 per cent of the top 100, while Cannex provided risk software for 9 per cent. Of the top 100, only 28 dealer groups used a business coach, most of them being internal.
We would like to thank all participants for providing us with data and hope you find the top 100 table and analysis useful in providing an insight into the wealth management industry. If your dealer group did not participate in this survey and you wish to be included in the future, please contact us at ifa@investorinfo.com.au
In Part 2 of our exclusive series, we ask leading names to nominate their best investments, the most effective industry group and the importance of platforms.
A former colleague of mine once offered the opinion that industry superannuation funds are reconstructed socialists - despite their union influence, these funds have grown and benefited from a global capitalist world.... read more »
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