Financial Adviser Market Insights, July 3, 2025
Adviser Numbers Decreased By (-190) For The Week, Moving From 15,488 To 15,298
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Initial Key Data:
The losses jumped this week to (-190)
Initial numbers for the 2024/25 Financial Year currently at (-136)
Losses for the month of June 2025 currently at (-359)
Gains for first couple of trading days in July +89
Number of advisers affected this week through resignation / appointment 403 (typically between 80 and 100 in a ‘normal’ week).
Note 1: Many advisers are switching licensees, so upcoming reports will show many reappointed. However, the high losses from our Accounting - Limited Advice model are not expected to come back. More details below.
Note 2: Licensees have 30 days to report their adviser movement, and we expect the fin year 2024/25 to bounce around over the next couple of weeks. Once the numbers settle, we will complete a financial year in review.
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Key Adviser Movements For This Period
Net change of advisers (-190)* See Note 3 below
Current number of advisers at 15,298
Net Change Calendar 2025 YTD (-177)* See Note 3 Note below
Net Change Financial YTD (2026/26) +89
Net Change Financial Year 2024/25 (-136)
42 Licensee Owners had net gains of 71 advisers
104 Licensee Owners had net losses for (-257) advisers
Seven new licensees and eleven ceased
18 new entrants
Number of advisers active in this period, appointed / resigned: 403.
*Note 3: Our business model Accounting - Limited Advice (mostly licensees limited to SMSF advice) is down (-71) for the week which equates to 37.4% of the total losses. For Calendar YTD the number is (-132), or 74.5% of the net losses. The number of advisers remaining in this model is only 350.
Growth - Licensee Owners
Guideway up by eight, all from MUFG Retire360 controlled by Australian Administration Services
A new licensee commenced with four advisers from Accession3 Financial Advisers and now has zero advisers
Wilson Pateras Group also up by 4, all four current showing as still be authorised at Canny Wealth
Three firms up by three including another new licensee with advisers leaving Bridge Private Wealth and ASV Holdings who gained all advisers from Consultum
10 firms up by two including Ord Minnett and Janus Financial
A tail of 26 licensees up by net one including; Practice Development Group (Godfrey Pembroke), Boston Reed and five new licensees.
Losses - Licensee Owners
NTAA (SMSF Adviser Network) down by (-59). This firm provides mostly limited SMSF advice and none showing as being reappointed.
Count Limited down by (-19) with 10 leaving Merit Wealth that provides mostly limited SMSF advice
Entireti & Akumin Group down by (-12),
Sequoia down by (-10)
Rhombus by (-7)
Australian Administration Services by (-6)
Accession3 and Lifespan down by (-5)
Three firms down by (-4); Industry Super Fund Holdings, Centrepoint Group and Ipraxis
Five groups down by (-3) including Spark Partnership and Beryllium Advisers
19 down by (-2) including Evan Dixon and Morgans Group
A very long tail of 69 firms down by net (-1) including Oreana, Shaw and Partners, and LFG Financial Services.
