AMP and IOOF have each lost financial advice firms based in Adelaide to Count Financial.
Adelaide Private Wealth, led by directors Hamish Zerbe, Ben Newbold and Mark Humpries, is a boutique financial advisory firm. It previously operated under AMP's Charter Financial Planning.
DMCA Advisory, which used to be part of Lonsdale and IOOF, has shifted to the Count Financial network.
DMCA Advisory director Tania Tonkin said: "We chose Count Financial due to their strong focus on innovation and technology to achieve better client experiences as well as the fact that they operate a clean model which is not aligned to any financial institutions."
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She added that Count Financial's technology solutions enabled her firm to improve the advice delivery process and operate more efficiently.
Count Financial chief advice officer Andrew Kennedy said that the new firms were welcome additions to their adviser network.
Since the start of the year, the two recent additions bring 25 new firms to the Count Financial group.
StrategyOne, previously part of the Fitzpatricks network, joined the ASX-listed firm in May.
A snapshot of the adviser population as at June 3 shows that the number of advisers dropped to 19,922, according to ASIC's Financial Adviser Register.
IOOF's Consultum Financial Planning is the largest dealer group with 385 advisers.