Financial Adviser Market Insights, May 15, 2025
Adviser Numbers Decreased By (-18) For The Week, Moving From 15,607 to 15,589
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A net loss of 18 advisers this week, the largest loss since the end of 2024. The loss of 18, along with nine lost last week, takes the number of advisers back below 15,600 to be at 15,589.
Only the one new licensee and three closed. Five new entrants commenced and a total of 71 advisers affected in some manner. The week showed very little growth at the licensees level, which may indicate that some adviser losses may well be advisers in transition to a new licensee.
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Key Adviser Movements For This Period
Net change of advisers (-18)
Current number of advisers at 15,589
Net Change Calendar 2025 YTD +111
Net Change Financial YTD +244
24 Licensee Owners had net gains of 25 advisers
28 Licensee Owners had net losses for (-40) advisers
One new licensees and three ceased
Five New entrants
Number of advisers active in this period, appointed / resigned: 71.
Growth - Licensee Owners
A new licensee commenced with two advisers. Both advisers are still authorised at their original licensee which appears to be connected to the broader business.
23 licensees owners up by plus one including Sequoia, Findex and Spark Financial Group.
Losses - Licensee Owners
Macquarie Group down by seven. The majority of the losses appear to hold positions that are support based services to advisers.
Count Limited down by three, losing two advisers at GPS Wealth and one adviser each at Merit and Paragem. None of the four have been reappointed elsewhere. They gained one adviser at Count who was previously Fortnum, owned by Entireti.
Four licensee owners down by two each:
Entireti and Akumin Group, losing four advisers two from Akumin and one each from Hillross and and Fortnum. Gained two advisers, one at Akumin who came back after a short break from Charter and one adviser at Charter who was previously with First Financial
Exelsuper Advice with the licensee now down to zero advisers. Both advisers have not been reappointed elsewhere
FSSP Financial Services (Aware Super) and both advisers have not been appointed elsewhere
Merchant Wealth Partners and both have not been appointed elsewhere.
A tail of 22 licensee owners down by net one each including Lifespan, Morgans and Shaw and Partners.
Progressing Through The Financial Year By Business Model
The data from dashboard 6 of our Adviser Fast Facts shows that this financial year, business models focused on holistic and investment advice have grown by just over 2%. In contrast, the Super Fund model, mainly large industry funds, has lost 10 advisers (1.47%), while the Accounting - Limited Advice model (mostly providing SMSF advice) has lost the most at 63 advisers (12.23%).
The Financial Planning model, the largest, has added 89 new licensees out of a total of 106, but also closed 37.
With about six weeks left in the financial year, which often sees high losses, especially in late June, the current numbers are better than in previous years, and we expect them to stay positive through June 30.
Financial Year To Date By Business Model - Dashboard 6 of Adviser Fast Facts
