83 advisers head to the exit

Mike Taylor

Managing Editor/Publisher, Financial Newswire

19 December 2025

The expected end of year financial adviser exodus appears to be underway with the latest analysis from Padua’s WealthData confirming the exit of 83 advisers for a net loss of 58 from the Financial Adviser Register (FAR).

WealthData principal, Colin Williams said the entry of 25 new advisers could not disguise the reality currently confronting the profession in the face of the education requirements which cut in on 1 January.

“It was a busy week of change with a total of 193 advisers affected by appointments / resignations. Much greater than a typical week which is normally in the range of 60 to 80,” Williams said.

Key Adviser Movements For This Period

• Net change of advisers (-58)
• Current number of advisers 15,373
• Net Change Calendar 2025 YTD (-99)
  • Net change 2025 YTD of +93 when excluding licensees that provide mostly limited SMSF advice
• Net Change Financial YTD (2025/26) +202
  • Net change Financial YTD +256 when excluding licensees that provide mostly limited SMSF advice
• 43 Licensee Owners had net gains of 57 advisers
• 66 Licensee Owners had net losses for (-107) advisers
• 3 new licensees (1 recommenced), and 6 ceased
• 25 new entrants
• 193 advisers affected by appointments / resignations

Growth – Licensee Owners

• Three licensee owners up by net three each:
  • Partners Wealth Group, two advisers switching from Fourthree Pty Ltd and one new entrant
  • Centrepoint Group, with one new entrant and an adviser each from Interprac and Australia National Investment Group
  • Centaur Gold Coast (Abundant Wealth Partners), all three advisers were authorised to Focused Financial Advice, AFSL Num 286219 which was suspended by ASIC on November 28, 2025.
• Eight groups up by two each
  • United Super, both advisers coming back into advice after long breaks
  • Thi Quynh Trang Nguyen (Consilium Advice Pty Ltd), while showing up by two advisers, one adviser was ceased only to return after a few days. The other adviser switched from Fintegrity Wealth Advisers
  • Modoras Pty Ltd, both being new entrants
  • Jedi Ventures (Gatekeeper 77), both advisers are still authorised at Finstyle Planning Solutions
  • FSSSP Financial (Aware Super), one coming back into advice after a gap of a few years and the other also back in advice after a gap of several months
  • Brian Trevor Sellick (IWM Advisors), one new entrant and the other still showing as being authorised at Sentry Advice. There appears to have been some backdating of adviser details
  • BDO Private Wealth, both new entrants
  • ANZ Banking Group, both advisers coming back into advice after long breaks.
• A long tail of 32 licensee owners up by net one each including all three new licensees, plus Insignia Group, Guideway and Bell Financial.

Losses – Licensee Owners

• NTAA (SMSF Advisers Network) down by 19, losing 21 advisers, not appointed elsewhere and re hiring two advisers who had breaks of several months
• Count Limited down by six, losing three advisers each at Count Financial and Merit Wealth. GPS Wealth appointed two advisers and also had two resign. None of the advisers who resigned from the Count licensees have been appointed elsewhere to date.
• Entireti & Akumin Group down by 5, with three appointments including one new entrant and eight losses. Of the eight losses only one has been appointed elsewhere to date.
• Three groups down by three each:
  • Morgans Group with four resignations, not appointed elsewhere and one new entrant appointed
  • MWL Group (MW Planning) who had their AFSL suspended by ASIC on December 11, 2025
  • Robert Negri (Wisdom Wealth), all three not appointed elsewhere
• Eight licensee owners down by two each including, Fiducian, Lifespan and Sequoia
• A very long tail of 52 licensee owners down by net one each including Rhombus, WT Financial Group and WT Financial Group.