Financial Adviser Market Insights, July 2, 2026
Adviser Numbers Decreased by (-112) for the week, moving 15,096 to 14,984
The first cut of the financial advisers numbers brings highlights that the current number of financial advisers has dipped below 15,000 to 14,984.
The headline weekly figure of -112 understates just how eventful the period was. At the close of business on 30 June, adviser numbers had dropped to 14,899, down almost 200 on the prior week, as advisers resigned around year-end, a mix of genuine retirements and those using the date to switch licensees. The first days of July have already delivered a partial rebound of +85, lifting the count to 14,984.
An important note on this week's numbers. Licensees have up to 30 days to report adviser appointments, so a large share of those who ceased at 30 June will re-surface at new licensees over the course of July. Expect the rebound to build week by week, and treat both the year-end and financial-year figures below as preliminary — they will firm up as reporting catches up.
As we progress through July we will provide a full summary of the 2025/26 financial year.
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It was comfortably the busiest week of the year, with 265 advisers affected including 8 new entrants, for context, exactly 200 more than the previous week. Notably, and in contrast to much of the year, this week's exits were broad-based Financial Planning advisers (around three-quarters of all cessations) rather than the restricted-SMSF cohort that drove the earlier losses, consistent with a classic end-of-financial-year wave of retirements and moves.
Key Adviser Movements for the Week
14,984 current advisers (having reached a low of 14,899 at 30 June)
Net change of advisers: (-112)
New Entrants: 8
38 licensee owners had net gains
75 licensee owners had net losses
4 new licensees
7 licensees reduced to zero advisers
Net Change Calendar 2026 YTD: (-71)
Net change last 12 months: (-244), improving as last year's June / July exits roll out of the window
Growth - Licensee Owners
George Sabini (Bespoke Wealth) up by six with advisers switching from CHPW Financial and new licensee (details given to members) commenced with five, all switching across from Morgans.
Another new licensee commenced with four advisers, although this initially looks like an internal switch
Sofia Korac (Springboard Wealth) up by four, as in recent weeks, all advisers switching from InterPrac
Phillip Alexander (Gill and Co) up by three, extending the year's strongest run (more below), with Spark Partnership Group and Entireti & Akumin each up by two.
Losses - Licensee Owners
Rhombus Enterprises down by 18, the week's largest single move.
ART Group Services (Australian Retirement Trust) down by 15 and Sequoia Group down by 13 (InterPrac), the latter continuing its year-long decline to 157 leaving 125 at the group.
Mancell Family Trust (FYG Planners) down by nine and CHPW Financial down by seven.
Morgans Group down by five, with Count Limited and WT Financial Group each down by four
Thereafter, three firms losing three each, six losing two each and 52 losing one each.
Financial year 2025/26 Initial Snapshot
Financial year 2025/26 - Initial snapshot of the data - To be updated in following weeks
The financial year is showing net number of advisers at (June 30) at 14,899 advisers, down 271 (or -1.79%) on the 15,170 recorded at 1 July 2025.
Accounting – Limited Advice (restricted / limited SMSF advice) fell by 189, a decline of over 53%, dropping from 354 advisers to just 165. That single sector accounts for around 70% of the entire market's net loss for the year, despite representing only about 2% of all advisers.
Super Fund Based Advice was down 42, Accounting – Financial Planning down 22, and Other down 12.
The two largest models were remarkably stable: Financial Planning finished essentially flat at -5 (-0.05%), and Investment Advice was unchanged on the year.
At the licensee level, 101 new licensees commenced over the year while 114 ceased, a net loss of 13. However, for the largest model of Financial Planning, 91 opened and 54 ceased, a net change of +37
Initial Most Growth and Least Growth for 2025/26 Financial Year - To be updated in following weeks
At the licensee owner level, the standout gainer for the year was Phillip Alexander (Gill and Co), up a net 24, ahead of WT Financial Group (+20) and Ord Minnett Group (+14), with Lifespan and Bell Financial Group (both +13) rounding out the top five.
The largest declines trace back to the year's two defining themes. Sequoia (-188) was heavily affected by departures at InterPrac, widely reported in connection with the First Guardian and Shield Master Fund matters; many of those advisers have since been reappointed elsewhere. The wind-down of restricted SMSF advice drove the next two, with National Tax & Accounting (SMSF Adviser Network, -91) and Count via Merit Wealth (-63) both heavily impacted.
