Adviser churn between licensees continues

Churn between licensees has remained the dominant factor in changes on the Financial Adviser Register (FAR) this week, according to the latest analysis from WealthData.

The analysis reveals that financial adviser numbers have remained relatively steady at 15,579 placing them 236 up in financial year to date terms and 103 up so far this calendar year.

Key Adviser Movements For This Period

• Net change of advisers +2

• Current number of advisers at 15,579

• Net Change Calendar 2025 YTD +103

• Net Change Financial YTD +236

• 23 Licensee Owners had net gains of 29 advisers

• 21 Licensee Owners had net losses for (-29) advisers

• One new licensee (recommenced) and one ceased

• 4 New entrants

• Number of advisers active in this period, appointed / resigned: 64.

Growth – Licensee Owners

• Macquarie Group up by three, all three advisers coming back after several months break from Macquarie Bank.

• Centrepoint Group also up by three, appointing four advisers with two from Interprac, owned by Sequoia, one from Strategic Solutions and one new entrant. They lost one adviser to Charter Financial.

• Lifestyle Asset Management up by two, one adviser from Financial Services Group and one coming back after a break from Beryllium Advisers

• Hive Group also up by two with both advisers moving from Personal Financial Services owned by Entireti

• 19 licensee owners up by net one adviser each including Mercer, Advice Evolution and FSSSP Financial Services (Aware Super).

Losses – Licensee Owners

• Ferdinand FFP Ultimate down by three, all three moving to the Connectus AFSL

• Sequoia Group also down by three, losing one to Centrepoint Group, and one to Advocate Advisory, and the remaining adviser is yet to be appointed elsewhere.

• Four licensee owners down by two

  • Capstone and both advisers not appointed elsewhere

  • Entireti & Akumin Group appointing two advisers, one coming back after a break and the other from Centrepoint. Losing four advisers, one to Wealth Today owned by WT Financial group and the other three are yet to be appointed elsewhere

  • Perpetual and both advisers are yet to be appointed elsewhere

  • Shartru and both advisers yet to be appointed elsewhere.

• A tail of 15 licensee owners down by net one each including; Count Limited, Infocus and PSK.