Financial Adviser Market Insights, September 4, 2025
Adviser Numbers Decreased By (-4) For The Week, Moving From 15,411 To 15,407
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The number of financial advisers dropped by four this week, marking the first net loss since the new financial year began. Five licensees ceased, and only one new licensee joined. Ten new advisers (new entrants) were added to the ASIC Financial Adviser Register, indicating 14 more experienced ceased.
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Key Adviser Movements For This Period
Net change of advisers (-4)
Current number of advisers 15,407
Net Change Calendar 2025 YTD (-67)
Net Change Financial YTD (2025/26) +232
27 Licensee Owners had net gains of 36 advisers
31 Licensee Owners had net losses for (-41) advisers
1 new licensees and (-5) ceased
10 new entrants
Number of advisers active in this period, appointed / resigned: 95.
Growth - Licensee Owners
Entireti & Akumin Group up by seven after appointing eight and losing one. The appointments include two new entrants, two advisers from Wealthmed Financial and the others are all from different licensees
Three licensee owners up by two
Wt Financial Group, gaining one adviser from Picture Wealth and another from Associated Concepts
Thi Quynh Trang Nguyen (Consilium Advice) gaining one adviser from Fintegrity Wealth Advisers and another adviser coming back after a break.
Infocus with one adviser switching from Cobalt and another from Capella Advisory
A tail of 23 licensee owners up by net one including Sequoia Group, Lifespan and Morgans Group.
Note: There was significant movement of advisers across licensees controlled by Focus Partners Australia Group. They consolidated advisers into licensees, mostly Brady & Associates advisers into Focus Partners Wealth, and offsetting advisers who were authorised at more than one licensee under their control. Two licensees, Brady and Associates and Alpha Asset Management, were closed (reduced to zero advisers). The group as a whole, is showing to be down by just one adviser.
Losses - Licensee Owners
Three licensee owners down by net three each:
AD Financial Services with two advisers joining Alliance Wealth owned by Centrepoint Group and one yet to be appointed elsewhere
MWL Group after having their MWL Financial Services Pty Ltd AFSL cancelled but do have one remaining AFSL, MW Planning
Aset Wealth Management - currently showing down by three.
Four licensee owners down by two:
AZ Next Generation (Wealthmed Financial) with advisers joining Fortnum Advice part of Entireti & Akumin
Lifestyle Asset Management and both advisers not appointed elsewhere to date
Morgan Stanley and both advisers not appointed elsewhere to date
O & Z Pty Ltd (Havana Financial Services), one adviser joining Billingham Advisers and the other yet to be appointed elsewhere
A tail of 24 down by net one each including Count Limited, Findex and Focus Partners Australia Group.
Licensee Closures – Should We Worry?
So far this calendar year, 67 new licensees started, but 56 stopped (down to zero advisers), leaving a net gain of 11. Last year, 79 started and 67 stopped, net gain 12, very similar numbers.
Currently, nine licensee owners still have advisers while 11 licensees associated to them have closed. This shows that some firms are merging into fewer licensees and in some instances, choosing licenses that suit them better.
Below is a chart from Dashboard 6 of Adviser Fast Facts (available to members), the broad based Financial Planning model is growing with 62 new licensees and 28 closing, a net gain of 34. Other models, like Accounting - Limited Advice (licensees restricted to SMSF advice), are losing more licensees than gaining; for example, they lost nine and started only one.
In short, for many advisers, starting a new licensee is still popular across the holistic advice sector, while bigger firms, with more than one licensee are prepared to consolidate.
Adviser and Licensee Movement By Business Models - Jan 1, 2025 to Sep 4, 2025
