426 fewer advisers over past 12 months

Mike Taylor

Managing Editor/Publisher, Financial Newswire

6 March 2026

Under scrutiny financial advice licensee, InterPrac lost a further eight financial advisers this week, as the latest data analysis reveals that the number of advisers to have resigned from the Financial Adviser Register (FAR) since 1 December now stands at 556.

The analysis, undertaken by Padua’s WealthData, shows that 101 advisers were either appointed or resigned this week, with the total number of advisers currently on the FAR down by a net five to 15,135.

Key Adviser Movements for the week

• 15,135 current advisers
• Net change of advisers (-5)
• 35 licensee owners had net gains of 43 advisers
• 34 licensee owners had net losses of (-48) advisers
• 4 new licensees and 6 ceased
• 11 new entrants
• 101 advisers affected by appointments / resignations.

Other key dates affected by this week’s data

• Net Change Calendar 2026 YTD +72* (rose this week due to some adviser resignations being backdated to 2025)
• Net Change Financial YTD (2025/26) (-36)
• Net change last 12 months (-429).

Growth – Licensee Owners

• Beryllium Advisers up by three, with two advisers switching from Consultum Financial Advisers owned by Rhombus and one adviser switching from Mainview Securities
• Six licensee owners up by net two:
  • Superannuation and Investments FINCO Pty Ltd (CFS Advice Services), one adviser switching from First Financial and one coming back onto the FAR after a break of several months
  • Steven Barclay (Financial Planning Advice Australia Pty Ltd), both switching from Customised Financial which ceased (down to zero advisers)
  • Count Limited with two new entrants
  • New Licensee (details given to members)
  • Bombora Advice with one adviser switching from Findex and the other from Interprac owned by Sequoia
  • ASVW Holdings with both advisers switching from Money Options which moved to zero advisers, noted last week.
• A total of 26 licensee owners up by net one including: Fitzpatricks, PSK Group and Wilsons Holding Company(Wilsons Advisory)..
• Shaw and Partners, Morgans Group and Lifespan. The remaining thee new licenses started with one adviser each.

Losses – Licensee Owners

• Sequoia down by eight again, the same as last week. Of the eight, five have been appointed elsewhere including a new licensee, Finchley and Kent, Bombora, Lifespan and Australian Mortgage And Financial Advisers Pty Ltd. Sequioa are now down to 234 advisers after starting the year with 282 advisers a net loss of 48 advisers and down by 73 advisers over six months.
• Centrepoint Group down by three
• Five license owners down by net two each:
  • Customised Financial (down to zero advisers), noted above switching to Financial Planning Advice Australia Pty Ltd
  • Entireti & Akumin Group losing four adviser and gaining two
  • Ord Minnett Group with both advisers not appointed elsewhere to date
  • Rhombus having a busy week picking up four advisers including two new entrants and losing six
  • Trustee Cornerstone Wealth with advisers commencing their own AFSL.
• A tail of 21 licensee owners down by net one each including Findex Group, Insignia Group and Apex Macro Financial Group. The five remaining ceased licensees, all only had one adviser each that resigned this week.