32 advisers exit FAR as EOY approaches

In what may be a precursor to the expected education standards exit of financial advisers closing out the year, 32 financial advisers exited the Financial Adviser Register (FAR) this week.

Analysis from Padua’s WealthData noted that it was largest net reduction in advisers since June, noting also that two licensees had commenced with a total of eight advisers between them while three licensees had ceased.

WealthData principal, Colin Williams pointed out that while there were only three new entrants to the FAR this week, he expected the number to ramp up in the wake of the upcoming financial adviser exam results.

He said Centrepoint Group moved ahead of Count Limited to become the second-largest advice firm.

“This week, Centrepoint added two advisers, reaching 589, while Count lost six, dropping to 583. Five of Count’s losses were at Merit Wealth, where most advisers focus only on ‘restricted’ SMSF advice. We expect most restricted SMSF only advisers to cease by 2026,” Williams said.

Key Adviser Movements For This Period

• Net change of advisers (-32)
• Current number of advisers 15,427
• Net Change Calendar 2025 YTD (-44)
  • Net change 2025 YTD of +117 when excluding licensees that provide mostly limited SMSF advice
• Net Change Financial YTD (2025/26) +257
  • Net change Financial YTD +280 when excluding licensees that provide mostly limited SMSF advice
• 16 Licensee Owners had net gains of 23 advisers
• 30 Licensee Owners had net losses for (-55) advisers
• 2 new licensees, and 3 ceased
• 3 new entrants
• 95 advisers affected by appointments / resignations

Growth – Licensee Owners

• One new licensee commenced with five advisers. (Details provided to members). The advisers switched from Charter, owned by Entireti & Akumin Group
• Another new licensee commenced with three advisers, with two advisers switching from Artemis Investments and one from Financial Force
• Centrepoint Group up by net two advisers, appointing five advisers at Alliance Wealth, with three switching from Interprac owned by Sequoia and two coming back into advice after a break of several months. Lost three advisers, two are yet to be appointed elsewhere and one switched to TFG Australia.
• A tail of just 13 licensee owners up by net one each including WT Financial Group, Picture Wealth Group and Canaccord

Losses – Licensee Owners

• Entireti & Akumin Group down by eight, six leaving Charter as mentioned above five commencing a new licensee. Fortnum Private and Personal Financial Services losing one each, both not showing as appointed elsewhere and adding one adviser at Fortnum Advice who is coming back into advice after a break of several months.
• Count Limited down by six, as mentioned earlier, five of the losses at Merit Wealth, one each at Count Financial and GPS Wealth, none appointed elsewhere and Paragem picking up one adviser who is still showing as being authorised at Perks Private Wealth
• Sequoia also down by six, with seven advisers leaving Interprac, three joining Alliance Wealth and the remainder yet to be appointed. One adviser appointed at Interprac, returning after a break of several years from advice.
• Koda Capital down by five. However, all five remain at Koda as advisers to wholesale / sophisticated clients only.
• Four licensee owners down by two:
  • Artemis Investments (NSW) joining a new licensee
  • Finwest Pty Ltd, however, both advisers appear to remain linked to the Finwest group
  • Mercer and both advisers yet to be appointed elsewhere
  • Unisuper and both advisers yet to be appointed elsewhere
• A tail of 22 licensee owners down by net one each including Bombora Advice, Infocus and Insignia.