In their review of AFA data goodreturns focused on the share of new AFAs that banks have picked up over the last two years. Banks gathered the largest share of these new recruits: of 202 new AFAs 59 are now working in banks.
On the other hand, at Investment News NZ, David Chaplin highlights the net position and points out that after taking into account staff losses (and ignoring the recent acquisition of JB Were by NAB) the numbers of AFAs employed by banks has barely budged.
Both reports are worth a read. However, as my statistics adviser points out, it is hard to make reliable predictions from small numbers: and all the numbers are small. The gains, the losses, even the movements between employers look lower than for many other sectors of the economy. It feels to me like we do not have a fast-changing AFA market. We have a smallish, slow, and sticky market for the services of AFAs. I hope that it grows.