Adviser numbers drop to 14,984

Mike Taylor

Managing Editor and Publisher

3 July 2026

Financial adviser numbers have lurched below the 15,000 mark as the profession closed out the 2025/26 financial year ending the past week at just 14,984.

The latest analysis of the Financial Adviser Register (FAR) by Padua’s WealthData confirmed the prediction made by Financial Newswire in May that the end of the financial year would likely see a breach in the previously-accepted 15,000 financial advisers floor.

WealthData principal, Colin Williams said that this week’s headline figure of a 112 adviser decline on the FAR understates just how eventful the period has been.

“At the close of business on 30 June, adviser numbers had dropped to 14,899, down almost 200 on the prior week, as advisers resigned around year-end, a mix of genuine retirements and those using the date to switch licensees,” he said.

Williams noted that the first days of July numbers have already delivered a partial rebound of +85, lifting the count to 14,984.

He said that licensees have up to 30 days to report adviser appointments, so a large share of those who ceased at 30 June will re-surface at new licensees over the course of July.

Williams said he expected the rebound to build week by week and, on that basis both the year-end and financial-year figures needed to be treated as preliminary.

Key Adviser Movements for the Week

• 14,984 current advisers (having reached a low of 14,899 at 30 June)
• Net change of advisers: (-112)
• New Entrants: 8
• 38 licensee owners had net gains
• 75 licensee owners had net losses
• 4 new licensees
• 7 licensees reduced to zero advisers
• Net Change Calendar 2026 YTD: (-71)
• Net change last 12 months: (-244), improving as last year’s June / July exits roll out of the window

Growth – Licensee Owners

• George Sabini (Bespoke Wealth) up by six with advisers switching from CHPW Financial and new licensee (details given to members) commenced with five, all switching across from Morgans.
• Another new licensee commenced with four advisers, although this initially looks like an internal switch
• Sofia Korac (Springboard Wealth) up by four, as in recent weeks, all advisers switching from InterPrac
• Phillip Alexander (Gill and Co) up by three, extending the year’s strongest run (more below), with Spark Partnership Group and Entireti & Akumin each up by two.

Losses – Licensee Owners

• Rhombus Enterprises down by 18, the week’s largest single move.
• ART Group Services (Australian Retirement Trust) down by 15 and Sequoia Group down by 13 (InterPrac), the latter continuing its year-long decline to 157 leaving 125 at the group.
• Mancell Family Trust (FYG Planners) down by nine and CHPW Financial down by seven.
• Morgans Group down by five, with Count Limited and WT Financial Group each down by four
• Thereafter, three firms losing three each, six losing two each and 52 losing one each.