The superannuation industry’s representation in this year’s Licensee Owner’s list has contracted along with the shrinking of the advice industry, the data shows.
Advice networks maintained by the country’s largest industry super funds accounted for 2,446 adviser authorised representatives, Professional Planner’s 2021 Licensee Owners list shows.
Read the full coverage of this year’s Licensee Owners List including a searchable database of licensees and authorised representatives, here.
FSSSP Financial Services, the trustee for Aware Super is the largest superannuation industry fund licensee owner on this year’s list, ranked at 14 with 242 advisers. The mooted restructure or Aware’s advice business not reflected in the number yet with this year’s list only showing a decline of two advisers compared to the previous year.
Industry fund services (ranked 37 with 91 advisers), Unisuper (ranked 42 with 75 advisers) and Sunsuper with 54 advisers) are the other highest ranked owners of advice licensees and advisers by size within the industry super fund industry.
Meanwhile, Q Super’s QInvest recorded the largest decline in representatives in the 12 months to June this year – a loss of 31, down from 81 in 2019.