Financial Adviser Market Insights, December 4, 2025
Adviser Numbers Decreased By (-32) For The Week, Moving From 15,459 To 15,427
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The net reduction of advisers, down by (-32), was the biggest loss since June this year and may be a signal to what’s in store over the coming weeks. Two new licensees commenced with a total of eight advisers between them. Three licensees ceased.
Only three new entrants, but we expect the number of new entrants to ramp up once the financial adviser exam results are released later in the month. 95 advisers affected this week, a significant jump on recent weeks.
Centrepoint Group moved ahead of Count Limited to become the second-largest advice firm. This week, Centrepoint added two advisers, reaching 589, while Count lost six, dropping to 583. Five of Count’s losses were at Merit Wealth, where most advisers focus only on ‘restricted’ SMSF advice. We expect most restricted SMSF only advisers to cease by 2026.
Superannuation Analysis - APRA recently released data on superannuation funds by type. We have updated our member charts, with the Free edition coming soon. The data shows Industry Funds still lead, even with lower net contributions, while transfers to SMSFs are at record levels. Superannuation By Fund Type Analysis
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Key Adviser Movements For This Period
Net change of advisers (-32)
Current number of advisers 15,427
Net Change Calendar 2025 YTD (-44)
Net change 2025 YTD of +117 when excluding licensees that provide mostly limited SMSF advice
Net Change Financial YTD (2025/26) +257
Net change Financial YTD +280 when excluding licensees that provide mostly limited SMSF advice
16 Licensee Owners had net gains of 23 advisers
30 Licensee Owners had net losses for (-55) advisers
2 new licensees, and 3 ceased
3 new entrants
95 advisers affected by appointments / resignations
Growth - Licensee Owners
One new licensee commenced with five advisers. (Details provided to members). The advisers switched from Charter, owned by Entireti & Akumin Group
Another new licensee commenced with three advisers, with two advisers switching from Artemis Investments and one from Financial Force
Centrepoint Group up by net two advisers, appointing five advisers at Alliance Wealth, with three switching from Interprac owned by Sequoia and two coming back into advice after a break of several months. Lost three advisers, two are yet to be appointed elsewhere and one switched to TFG Australia.
A tail of just 13 licensee owners up by net one each including WT Financial Group, Picture Wealth Group and Canaccord
Losses - Licensee Owners
Entireti & Akumin Group down by eight, six leaving Charter as mentioned above five commencing a new licensee. Fortnum Private and Personal Financial Services losing one each, both not showing as appointed elsewhere and adding one adviser at Fortnum Advice who is coming back into advice after a break of several months.
Count Limited down by six, as mentioned earlier, five of the losses at Merit Wealth, one each at Count Financial and GPS Wealth, none appointed elsewhere and Paragem picking up one adviser who is still showing as being authorised at Perks Private Wealth
Sequoia also down by six, with seven advisers leaving Interprac, three joining Alliance Wealth and the remainder yet to be appointed. One adviser appointed at Interprac, returning after a break of several years from advice.
Koda Capital down by five. However, all five remain at Koda as advisers to wholesale / sophisticated clients only.
Four licensee owners down by two:
Artemis Investments (NSW) joining a new licensee
Finwest Pty Ltd, however, both advisers appear to remain linked to the Finwest group
Mercer and both advisers yet to be appointed elsewhere
Unisuper and both advisers yet to be appointed elsewhere
A tail of 22 licensee owners down by net one each including Bombora Advice, Infocus and Insignia.
Superannuation Analysis By Fund Type To September 2025
APRA have recently released its latest data set covering superannuation funds by fund type. Industry Funds continue to dominate the market despite a pull back in net contributions. Net losses to SMSFs continue to grow, with record transfers from Industry Funds. Superannuation Analysis By Fund Type - Click to Read
