Financial Adviser Market Insights, August 14, 2025
Adviser Numbers Increased By +22 For The Week, Moving From 15373 To 15,395
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Another solid week of adviser growth, up by 22. The growth was driven by 14 new entrants. The net change financial year to date is now sitting at +216.
Calendar year to date is still negative at (-79). However, if we exclude licensees that are associated with accountants who offer limited SMSF advice, the growth number is positive at +64. - See more details below.
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Key Adviser Movements For This Period
Net change of advisers +22
Current number of advisers 15,395
Net Change Calendar 2025 YTD (-79)
Net Change Financial YTD (2025/26) +216
35 Licensee Owners had net gains of 49 advisers
16 Licensee Owners had net losses for (-22) advisers
1 new licensee and one ceased
14 new entrants
Number of advisers active in this period, appointed / resigned: 74.
Growth - Licensee Owners
FSSP Financial Services (Aware Super), up by four advisers, all changing from different licensees, with three coming back into advice after a short break and one after being out of advice for over 12 months
Cutcher & Neale Financial Services also up by four, all advisers are still currently authorised at BBB Financial Services which is also part of the Cutcher & Neale Group
Partners Wealth Group up by three, all advisers switching from Mont Group (owned by Otwo Burswood)
Six licensee owners up by net two each:
WT Financial Group, both advisers previously at Lifespan with one coming back into advice after a break of several months
Insight Management Partners, both advisers coming back into advice after a break of several years
Halpin Wealth Partners with one new entrant and one adviser moving across from SA Wealth Solutions
Entireti & Akumin gaining three advisers, two being new entrants and one adviser switching from Capstone, and one adviser ceased and not appointed elsewhere to date
Count Ltd with both advisers being new entrants
Catalpa Pty Ltd with both advisers switching across from Fintegrity Wealth Advisers owned by Sshhut Holdings
A tail of 26 licensees up by net one including Sequoia, Insignia and the one new licensee
Losses - Licensee Owners
Otwo Burswood Pty Ltd (Mont Group) down by three advisers, as mentioned above, moving across to Partners Wealth Group
Three licensee owners down by two advisers each:
Australian Administration Services (MUFG Retire360), both not appointed elsewhere to date
Kilara Financial Solutions and both advisers not appointed elsewhere to date
Picture Wealth, losing three advisers, none appointed elsewhere to date and appointing one adviser who has come back into advice after a break of several months
Sshhut Holdings (Fintegrity Wealth Advisers), as mentioned above, both advisers switching to Catalpa
A short tail of 11 down by net one each including Fitzpatricks, Capstone and Spark Partnership.
The number of advisers giving general financial advice is growing. Although the total number of advisers this year has dropped by 79, this decline is mainly due to advisers offering only limited SMSF advice (like structure and contributions), mostly accountants who don’t provide full investment advice.
This limited advice model began in 2016 and grew to 2,787 advisers by 2018, but now there are just 339, an 88% drop. Many advisers in this group started their own AFSLs, but 502 AFSLs have closed since then. The largest licensee, SMSF Adviser Network, shrank from 1,083 to 149 advisers.
Numbers for this limited advice group keep falling, down by 143 this year. If we leave out this group, other adviser types have actually grown by 64.
Growth by business models this calendar year - Dashboard 6 of Adviser Fast Facts
The data for the rolling 12 months, also shows a positive number at 59 (excluding the Accounting - Limited Advice model). This date range covers both December and June, traditionally a time for a high number of exits. Over the same period, the Accounting - Limited Advice model is down by (-174).
