Financial Adviser Market Insights, February 12, 2026
Adviser Numbers Increased by Eleven for the week moving from 15,130 to 15,141
The net change of financial advisers increased by eleven for the week. A solid week for new entrants at 17.
Three new licensees commenced and four ceased. A total of 82 advisers affected by change.
A jump in disciplinary actions
The total number of disciplinary actions brought against advisers jumped to 29 for calendar year 2025, up from 16 in 2024. This was the biggest total since 2019 when it hit 34. However, back in 2019, there were a significant greater number of advisers. More details in the post below.
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Key Adviser Movements for the week
15,141 current advisers
Net change of advisers +11
26 licensee owners had net gains of 38 advisers
23 licensee owners had net losses of (-28) advisers
3 new licensees and 4 ceased
17 new entrants
82 advisers affected by appointments / resignations.
Other key dates affected by this week’s data
Net Change Calendar 2026 YTD +69
Net Change Financial YTD (2025/26) (-30)
Net change last 12 months (-418).
Growth - Licensee Owners
A new licensee commenced (details given to Members) with five advisers who were all previously at Sira Group, owned by Bannister Consulting (Note: one adviser still listed at Bannister Consulting).
Sensible Investment Management, owners of licensee “Fish Tacos” up by four, all being new entrants
Merchant Wealth Partners up by three, all three previously with Bombora Advice (one still listed as being with Bombora)
Three licensee owners up by two each:
A new licensee both advisers leaving Capstone
Infocus Group, one adviser switching from Fitzpatricks Private Wealth and one new entrant
Christopher Allan (AAG Financial Planning Pty Ltd), with one adviser switching from Fortnum Private owned by Entireti & Akumin Group and one from JFP Advisory
A total of 20 licensee owners up by net one including: WT Financial Group, Ord Minnett Group and the remaining new licensee.
Losses - Licensee Owners
Bannister Consulting (Sira Group), down by four, as mentioned above, the advisers commencing a new licensee
Entireti & Akumin Group down by two
Rhombus also down by two
A tail of 20 licensee owners down by net one each including, AvalonFS, Insignia Group and Oreana. All four licensees that ceased were one adviser firms.
Disciplinary Actions by Year
Disciplinary actions rose to 29 in 2025 from 16 in 2024 — the highest since 2019 (34). Most resulted in adviser bans or disqualifications.
None of the advisers affected in 2025 are listed as “current” on the ASIC Financial Adviser Register (FAR). Over the past ten years, 216 advisers were affected and only 11 are current on the FAR.
Some may think these totals are low because adviser bans often appear in the news. But many high-profile cases involve people not listed on the FAR (for example, Melissa Caddick), and some advisers appear in multiple reports as the same case progresses (identification, banning, sentencing).
. Number of Disciplinary Actions by Year Jumped in 2025
