Over the week, the net number of financial advisers increased by nine advisers. Fifteen new entrants commenced on the ASIC Financial Advisers Register (FAR). Two new licensees commenced for the week and three ceased. There were 62 advisers affected by either resignations or appointments.

This week’s data also reviews the average number of times advisers have been appointed across different sectors of the adviser market.

Key adviser movements for this period

• Net change of advisers +9
• Current number of advisers 15,467
• Net change calendar 2025 YTD (-6)
  • Note net change 2025 YTD is +147 when excluding licensees that provide mostly limited SMSF advice
• Net change financial YTD (2025/26) +296
  • Note - net change financial YTD is +311 when excluding licensees that provide mostly limited SMSF advice
• 28 licensee owners had net gains of 29 advisers
• 18 licensee owners had net losses of (-20) advisers
• There were two new licensees and three ceased
• 15 new entrants
• Number of advisers active in this period, appointed / resigned: 62.

Growth - licensee owners

• Partners Wealth Group Pty up by net 2, both advisers being new entrants.
• 27 licensee owners up by net one each, including Morgans Group, Lifespan and Picture Wealth.
• Both new licensees commenced with only one adviser each.

Losses - licensee owners*

• Advice Exchange Solutions down by 2 advisers - One adviser switching to Wealthyer Advice Assurance and the other is yet to be appointed elsewhere.
• The G & A Hunter Family (Hunter Green) down by 2 advisers - Both advisers yet to be appointed elsewhere.
• 16 licensee owners lost one each, including Entierti & Akumin Group and Togethr Trustees Pty Ltd.
• The three licensees that closed only had one adviser each.

*Correction to last week’s data: three advisers moved from Morgan Stanley to Canaccord Group, not from Morgans Group. The data for last week was immediately amended upon noticing the error.

Number of times advisers have been appointed

Each week we tend to focus on the number of advisers joining, exiting, switching licensees and in a typical week, more than 60 advisers are affected in some way. In the busy periods, such as at the end of the fiscal and calendar years, that number can be in the hundreds.

This week, we have opted to look at the number of times current advisers have been ‘appointed’. The numbers have been averaged by our new business models as shown below. The data highlights that:

• Super funds have the highest average at 3.19
• The mid licensee owners of between 20 to 150 advisers are next at 3.16 followed by boutiques at 2.83
• Large licensee owners at 2,61 and the institutional /salaried with the lowest average at 2.04. The total average is 2.77

‍Average number of times that current advisers have been appointed

The numbers might surprise some, especially the lower average for large licensee owners, which have lost many advisers in recent years. The data shows that while losses were high, the remaining advisers have stayed loyal, helping to create a more stable situation.

The institutional / salaried model does come in with the lowest score. This may in part be due to a lesser number of options for the advisers to switch licensees. The super funds sector is relatively high, this may be in part be due to mostly hiring experienced advisers as opposed to new entrants.

Of interest, there are 27 advisers have been appointed more than 10 times.

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