Quarter 3, 2025 Financial Adviser Market Insights

We have finished the third quarter of 2025 and are preparing for a likely very unstable last quarter, as new education rules start on January 1, 2026.

The data below is from Dashboard 1 of Adviser Fast Facts using ‘My Dates’ July 1, 2025 to September 30, 2025. It highlights the following:

• Adviser Net Change of +256 which is significantly greater than the same period in 2024 which was +161

• The number of current advisers as of September 30 is 15,428, which is less than for September 30, 2024 which was at 15,501

• 24 new licensees commenced, which is below the +36 that started in the same period last year

• (-21) licensee ceased (down to zero advisers), very similar to the same period last year which was (-20)

• WT Financial Group had the biggest gain in adviser numbers, up by 24 to be at 526 advisers. Guideway Financial Services at 12, followed by Count Limited at 11 and Rhombus at 10. Lifespan and and Centrepoint at 9 each

• Interesting to note that five of the six biggest gainers were large licensee owners, with four offering multiple licensees under their ownership

• Out of 24 new licensees, 12 had just one adviser, and five shared the highest number with four advisers each

• As for largest losses, MWL Group down by (-10), followed by Sequoia at (-8) and AD Financial Services at (-6)

• Of the 21 licensees that closed, 14 had just one adviser. The biggest loss was MWL Financial Services with 11 advisers

• 2025 calendar year to date to Sep 30, 2025, net change of advisers at (-44) versus (-120) for the same period in 2024.

Adviser Fast Facts - Quarter Three, 2025

New entrants and resignations

• 195 new entrants commenced and 194 are still active (as of today’s data). For the same period in 2024, 213 commenced and currently 195 are still practicing

• Since the start of 2024 to Sep 30, 2025, 937 new entrants have commenced and 875 are still practicing

• 189 advisers have resigned and ceased (no longer practicing)

Note: 189 advisers have stopped, and 194 have started (and are still active). But overall, adviser numbers grew by 256. This shows many advisers who previously ceased have returned to advising.

As is usual over the financial year period, some advisers left one licensee in June and joined another in July, which temporarily raises the July numbers. Still, each week, many advisers return to advice after being inactive for months or even years according to ASIC FAR records.