Financial Adviser Market Insights, June 5, 2025
Adviser Numbers Decreased By (-10) For The Week, Moving From 15,602 To 15,592
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In a busy week which included CBA closing out its last remaining advice business, the total number of advisers dropped by 10. This was despite four new licensees commencing and eight new entrants coming onto the ASIC Financial Adviser Register (FAR).
We have updated or Super Funds By Fund Type dashboards for members - A post highlighting key data points can be here
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Key Adviser Movements For This Period
Net change of advisers (-10)
Current number of advisers at 15,592
Net Change Calendar 2025 YTD +114
Net Change Financial YTD +247
26 Licensee Owners had net gains of 51 advisers
27 Licensee Owners had net losses for (-64) advisers
Four new licensees and two ceased
Eight new entrants
Number of advisers active in this period, appointed / resigned: 101.
Growth - Licensee Owners
LGT Group Foundation ‘recommenced’ their AFSL with 18 ‘Personal Financial Advisers’ after purchasing the private wealth business of the CBA. The CBA Group is now down to zero financial advisers.
Picture Wealth up by three, all being new entrants
A new licensee commenced with three advisers. I would appear that this firm is in the process of moving away from Akumin
Four licensee owners up by net two each:
United Super, one adviser from Halcyon Wealth management and the other coming back into advice after a break of three years
Practice Development Group (Godfrey Pembroke), both being new entrants
Another new licensee with advisers moving away from Akumin
Advice Evolution with one adviser from Fintegrity Wealth Advisers and the other from Lifestyle Asset Management.
19 licensees owners up by plus one including Solomons Wealth Management, Phillip Alexander and Janus Financial.
Losses - Licensee Owners
CBA Group, as mentioned above, now down to zero advisers after the remaining 19 advisers left the group under the deal with LGT Group Foundation
Count Limited down by six, all leaving Merit Wealth which provides limited SMSF advice. None of the adviser showing as being authorised elsewhere.
Entireti & Akumin Group down by four, two of the advisers commencing a new licensee and the other two yet to be appointed elsewhere
Wongan Enterprises (Plandfarm Marketing), down by four, none of the advisers being appointed elsewhere to date
Corey James Wastle (Verse Wealth Licensee Services) down by three, none appointed elsewhere to date
Northaven Financial also down by three. All three switching to a new license that started in March with a similar name
Four licensee owners down by two each:
Hatmour (Integro) and none of the advisers appointed elsewhere
Industry Super Holdings as above, neither adviser yet to be appointed elsewhere
Rhombus Advisory, one adviser moving to CCAFP Wealth and the other yet to be appointed.
Spark Partnership and both advisers yet to be appointed elsewhere
A tail of 17 licensee owners down by net one each including Koda Capital, Sequoia, and Shartru Wealth Management.
Super Funds By Funds Type Analysis - SMSFs Big Winners
Our dashboards have been updated with the latest data from APRA and the ATO. The data shows that SMSF funds are the big winners with large transfers moving to SMSFs mainly from Industry Funds.
