Financial Adviser Market Insights, October 1, 2026.
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Adviser numbers fell by 7 for the week, moving from 15,169 to 15,162.
A quiet pullback after last week's gain, with movement thinly spread, 19 licensee owners up against 21 down, none of it concentrated in any single story. Two of the four advisers leaving Rhombus Enterprises landed at Lifespan, while two advisers departing Hunter Green set up together under a new self-licensee.
The net loss was a bit surprising given we had 14 new entrants, this indicates that some 21 more experienced advisers dropped off the ASIC Financial Adviser Register.
We've now closed out the first three quarters of the calendar year, so it's a good point to check the year-on-year comparison. Calendar 2026 YTD sits at +106, against (-39) at the same point in 2025, a turnaround of 145 advisers. See also the notes below re New Entrants 2025 V 2026 YTD. Financial Year 2026/27 YTD remains strong at +280.
A total of 70 advisers were affected by appointments and/or resignations this week.
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Key Adviser Movements for the Week
15,162 current advisers
Net change of advisers: (-7)
New Entrants: 14
New licensees commenced: 2
Licensees ceased: 2
19 licensee owners had net gains
21 licensee owners had net losses
Net Change Calendar 2026 YTD: +106 (2025 same period: (-39))
Net Change Financial Year 2026/27 YTD: +280
Net change last 12 months: (-250).
Growth - Licensee Owners
Lifespan up by two to 312, both advisers joining from Rhombus Enterprises' RI Advice Group licence (see Losses).
A newly commenced licensee, details given to members, formed by two advisers who switched together from Hunter Green (The G & A Hunter Family Trust)
A tail of licensee 16 owners up by net one each, including Macquarie Group (105), Morgans Group (437) and Koda Capital (50).
Losses - Licensee Owners
Rhombus Enterprises down by four to 477, all from RI Advice Group. Two moved to Lifespan (see Growth), while the other two are not yet reappointed.
Endeavor Asset Management down by three to 37, none of the departing advisers yet reappointed.
Two licensee owners down by two each: Findex Group (132) and Centrepoint Group (597).
Hunter Green (The G & A Hunter Family Trust) down by two, both advisers leaving together to establish the new licensee - details given to members
A tail of licensee owners down by net one each, including Count Limited (549), Canaccord Group (199) and Bell Financial Group (182).
Why is Calendar 2026 YTD growth much better than 2025?
The 2026 year-to-date net change in advisers is +106 versus −39 for the same period in 2025, a swing of +145. You might expect many more new entrants in 2026, but the data doesn’t show that: by October 1, 2025 there were 421 new entrants on the ASIC Financial Adviser Register, versus 413 this year.
The difference likely reflects the January 1, 2026 qualification deadline. Many advisers who hadn’t completed required education waited until late December. In the last two weeks of December 2025 and the first week of January 2026 the net number of advisers fell by 362, while others left earlier in the year.
We’ve also seen many advisers return to the market, most likely after taking time out to gain the required qualifications.
The Financial Adviser Market Report - get your copy now - No Fee
The Australian Financial Adviser Market 2026 is Padua's data-driven read on the state of the profession. Drawing on the ASIC Financial Adviser Register and adviser exam data, it maps six forces behind a market that has stopped shrinking but is far from recovered: 15,012 advisers, ageing fast, against 3.6 million Australians who need advice. The conclusion is a shift in the question itself, from how to grow the workforce to how to get more from the one we have.
