Migration advisory industry is worth about $910 million a year.
Experienced migration agents may be becoming a rare breed. The OMARA figures indicate that almost half of the advisors in the migration advisory industry have less than 3 years’ experience.
This may not come as a surprise given the strong growth of the migration advisory industry in recent years. Current figures indicate that there is an average net increase of 40 registered migration agents (RMAs) a month. However, not all survive its demands with the OMARA figures showing 157 left the industry in the September quarter alone.
Overall, the total number of registered migration agents increased from 5706 at 30 June 2015 to 5830 at 30 September 2015 according to the OMARA’s Migration Agent Activity Report.
Over two-thirds or 67% of migration advisors are congregated in New South Wales and Victoria. About a third of the total number of RMAs are also lawyers. Currently, legislation requires migration advisors – including lawyers - to be registered with the OMARA in order to practice in the industry. The number of lawyers that could enter the industry could rise significantly, once - as proposed - the OMARA registration requirement is removed for legal practitioners.
...