Financial Adviser Market Insights, June 25, 2026
Adviser Numbers Decreased by (-3) for the week, moving 15,099 to 15,096
After a run of large losses earlier in June, this week was relatively quiet with a net loss of just three. As our recent 12-month review flagged, this is historically the most volatile period of the year, so the calm may be short-lived. The numbers held up reasonably well given ANZ Banking Group had seven resignations who have not been reappointed elsewhere to date.
Next week we will see a small ‘financial year’ crossover of the reporting, as the release of the data will be made on the morning of July 2. We are expecting a large number of resignations at June 30. However, many may not be fully reported until the following weeks or two.
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A total of 65 advisers were affected by appointments and/or resignations this week, including four new entrants to the register.
Key Adviser Movements for the Week
15,096 current advisers
Net change of advisers: (-3)
New Entrants: 4
22 licensee owners had net gains
21 licensee owners had net losses
2 new licensees and 1 licensee reduced to zero advisers
Net Change Calendar 2026 YTD: +44
Net Change Financial Year 2025/26 YTD: (-74)
Net change last 12 months: (-391), improved from -440 a week ago.
Growth - Licensee Owners
Entireti & Akumin Group up by three, the sector's largest licensee owner, with the additions including one new entrant. Calendar YTD they have appointed 16 new entrants.
Sofia Korac - Springboard Wealth Lic up by three , a new licensees that appeared last week and is currently made up of all former InterPrac advisers
Two licensee owners up by two: FSSSP Financial Services (Super Fund Based Advice) and Picture Wealth Group, the latter continuing to grow organically following its acquisition of Capstone (covered in last week's edition).
A tail of 17 licensee owners up by net one each, including Centrepoint Group and Cutcher & Neale Financial Services.
Losses - Licensee Owners
ANZ Banking Group down by seven and the week's largest single move, with none of the departing advisers yet reappointed — continuing the long-running retreat of the major banks from financial advice. ANZ now sits at 23 advisers.
Count Limited and Sequoia Group each down by two, both continuing their longer-run declines. WT Financial Group picked up one adviser from each.
William Buck Wealth Advisors (NSW) down by two. Not appointed elsewhere to date.
A tail of 17 owners down by net one each, including Bongiorno Group, and with one single-adviser licensee reduced to zero.
Updated Superannuation Data
Asset Allocation Data - This week we updated the Asset Allocation data for Superannuation - By Fund Types. The data was released by APRA earlier in the week. We have highlighted some of the core variances between fund types, particularly between Industry and Retail Funds. In summary, Industry Funds hold most of their assets directly, i.e managed inhouse. They also have a greater reliance on Property and Infrastructure much of which is not listed.
Details updated in this post - Superannuation Data By Fund Type
Average and Median Balances by Individual Funds - APRA released data highlighting the average and median balances by individual funds. Typically, the average balance is greater than the median due a small portion of the membership holding significantly higher balances than the majority of members.
What does make interesting reading is that the Retail Funds typically have higher average and median balances than Industry Funds. To put this in perspective, for funds with more than $10 billion, Retail Funds hold the top seven spots both for Median and Average balances when grouped with Industry Funds.
Details updated in this post. Superannuation Fund Level Statistics
