Adviser numbers grow back over 15,500
Financial adviser numbers have returned to above 15,500 as new entrants underscore a positive start to 2025, according to the latest analysis from WealthData.
WealthData principal, Colin Williams said adviser numbers had grown by 22 this week, mainly due to 21 new entrants on the Financial Adviser Register.
“The year shows a positive trend at +39, and the financial year stands at +175,” he said.
Key Adviser Movements For This Period
- Net change of advisers +22
- Current number of advisers at 15,516
- Net Change Calendar 2024 (-145)
- Net Change Calendar 2025 YTD +39
- Net Change Financial YTD +175
- 30 Licensee Owners had net gains of 55 advisers
- 19 Licensee Owners had net losses for (-21) advisers
- 3 new licensees commenced and zero ceased
- 21 New entrants
- Number of advisers active in this period, appointed / resigned: 81.
Growth – Licensee Owners
- Arthur J Gallagher & Co (Gallagher Benefit Services), up by another 6 after being up by eight last week. All advisers, both last week and this week, are currently also authorised at Mont Partners
- WT Financial Group up by five, with two advisers coming back after a break from advice, two advisers switching from different licensees and one new entrant
- Sequoia also up by five, hiring six, including four new entrants, two advisers switching from Oakview Financial and losing one adviser who is not showing as appointed elsewhere.
- Entireti up by three, all new entrants and all appointed at AMP Financial Planning. YTD Entireti is up by net 11.
- Five licensee owners up by net two each including Lifespan, Bell Financial and one new licensee
- A tail of 20 licensee owners up by net one each including Rhombus, Morgans and Canaccord.
Note: At the licensee level, Sunsuper, controlled by Australian Retirement Trust, (ART) is up by six, all advisers are also currently authorised at QInvest, also controlled by ART. No change to the count of advisers at ART.
Losses – Licensee Owners
- Bombora Advice down by two, both not showing as appointed elsewhere
- Count down by two, after appointing one new entrant, and losing three, one each from Merit Wealth, Count and GPS Wealth.
- Alteris Group also down by two, neither showing as appointed elsewhere.
- 16 licensee owners down by net one each including Capstone, FSSP Financial (Aware Super) and Shaw and Partners.
Won’t be for long, will be another decline in 2025.
Embarrassing comments from Wealthdata. We all know adviser numbers are seasonal. Lots of advisers leave in June and then pop up in July. Same in December/January. The only way to fairly measure growth in numbers is year-on-year.