Financial Adviser Market Insights, March 12, 2026
Adviser Numbers Decreased by Eight for the week moving from 15,135 To 15,127
The net change in financial advisers decreased by eight for the week. Despite the recent losses, the calendar year to date is showing positive growth at 66. Three advisers ceased this week, had their resignation date backdated to Dec 31, 2025.
Another busy week of movement especially among smaller AFSLs, with four commencing and five ceasing (down to zero advisers). Only four new entrants, expect the number of new entrants to increase in the coming weeks, once the recent financial adviser exam results are released. Sixty advisers affected this week, well down on last week which was 101.
Superannuation Trends - Retail Funds and SMSFs on the rise
Hot on the heels of of our detailed ‘Fund Level Statistics’ released last week, we are in the process of updating our Superannuation By Fund Type dashboards - We have included a preview below which highlights net contributions and transfers to SMSFs. Many readers will find the net flows to be of interest, as Retail Funds regain ground on Industry Funds and how SMSFs are increasing their transfers away from Industry Funds. Details below and a full update will be provided shortly.
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Key Adviser Movements for the week
15,127 current advisers
Net change of advisers (-8)
18 licensee owners had net gains of 23 advisers
25 licensee owners had net losses of (-31) advisers
4 new licensees (one recommencing) and 5 ceased
4 new entrants
60 advisers affected by appointments / resignations.
Other key dates affected by this week’s data
Net Change Calendar 2026 YTD +66
Net Change Financial YTD (2025/26) (-44)
Net change last 12 months (-442).
Growth - Licensee Owners
A new licensee commenced with four advisers - details given to members - The advisers were previously at Consultum owned by Rhombus Enterprises
Another new licensee commenced with two advisers, both advisers previously at Interprac owned by Sequoia
Strategic Financial Partners increased by two, one one adviser switching from Count Limited and the other from MW Grouping Pty Ltd
A total of 15 licensee owners up by net one including: Capstone, Nextplan Financial and Lifestyle Asset Management. The two remaining new licensees commenced with one adviser each, with one adviser coming back into financial planning after last being authorised in 2019.
Losses - Licensee Owners
Six licensee owners down by net two each and unless stated, not appointed elsewhere: including:
Insignia Group, one each from Bridges and Shadforth
Morgans Group
NSW Complete Financial Services Group
O & Z Pty Ltd (Havana Financial Services), one adviser starting their own licensee and the other not appointed elsewhere
Thi Quynh Trang Nguyen (Consilium Advice)
WT Financial Group
A tail of 19 licensee owners down by net one each including Centrepoint Group, Lifespan and ART Group.
Superannuation Trends by Fund Type
APRA recently released their Superannuation statistics by Fund Type and we expect the ATO to release their SMSFs stats shortly. The chart below highlights how net contributions have changed over recent years, with Retail Funds climbing out of negative territory from 2024 and closing the gap on Industry funds.
Net Flows - Note: The rolling 12 month total for Q1 2024 for Industry Funds was $78.96B and (-$5.69B) for Retail Funds, a gap of over $84.65B. Fast forward to Q4 2025 and the gap has narrowed to $36.39B, with Industry Funds at $59.46B and Retail at $23.07B
SMSFs capture more Industry Fund flows
The chart below shows how the net transfer of rollovers to and from SMSFs, are hurting Industry Funds at an increasing rate. The rolling 12 month total for Industry funds is currently at (-7,209M) or (-$7.2B). In Q4, 2022 it was(- $1,597M) or (-$1.6B). The amount has more than quadrupled in that time frame.
Industry Funds continue to lose assets to SMSFs at an increasing rate.
