Adviser numbers grow, InterPrac exits continue

Mike Taylor

Managing Editor and Publisher

8 May 2026

Numbers on the Financial Adviser Register have now risen to 15,168 after another positive week which saw 19 new entrants but also witnessed more adviser exits from Sequoia-owned InterPrac.

InterPrac lost a further seven advisers.

According to the latest analysis from Padua’s WealthData the increase in the number of advisers has been driven in large part by the outcome of the March Financial Adviser Exam.

WealthData principal, Colin Williams noted that a total of 103 advisers had either been appointed or resigned on the FAR over the past week and particularly noted the situation at Sequoia following its announcement that the sale of the licensee to Conquest Investment Partners had been aborted.

Key Adviser Movements for the Week

• 15,168 current advisers
• Net change of advisers +25
• New Entrants 19
• 49 licensee owners had net gains
• 26 licensee owners had net losses
• 9 new licensees and 3 ceased
• Net Change Calendar 2026 YTD: +114(at the same date last year it was +119)
• Net Change Financial Year 2025/26 YTD: (-1)
• Net change last 12 months: (-424)

Growth – Licensee Owners

The week saw broad-based growth across a range of licensee owners, with several notable movers:

• AvalonFS up by four, with two advisers switching from InterPrac (Sequoia), one returning after a short break and one switching from Mawson Wealth.
• A new licensee (details given to members) up by three, with three advisers transitioning from Investors Direct Financial Group
• Industry Super Holdings up by three, including one adviser recommencing after a short break.
• Macquarie Group up by three, all three being new entrants to the ASIC FAR.
• Ord Minnett Group up by three, all new advisers
• Lifespan up by three, with one adviser switching from Findex Group, one from InterPrac and one from Consultum (Rhombus).
• A new licensee commenced with two advisers who were previously at Finchley & Kent.
• WT Financial Group up by two, with one adviser switching from InterPrac into Synchron Advice and one new entrant joining Millennium 3 Financial Services.
• Morgans Group up by two, both new entrants.
• Vivid Holdco (Viridian) up by two, both recommencing after a break from advice
• A tail of 38 licensee owners up by net one each, including Insignia Group, Bell Financial Group and Spark Partnership Group.

Losses – Licensee Owners

• Sequoia Group down by seven, continuing the InterPrac rundown. Most departing advisers have found new homes including AvalonFS and WT Financial Group, while others are yet to be reappointed. Sequoia’s ongoing losses remain the most significant of any licensee owner in the market.
• Count Limited down by three, losing five advisers and gaining two. Of the five that left only one has been appointed elsewhere. Of the gains, one was appointed from APT Wealth and one from Alliance Wealth.
• Investors Direct Financial Group down by three, with all three advisers transitioning to the new licensee.
• Finchley & Kent down by two, with both advisers departing to commence with Boz Cue Pty Ltd — a new licensee.
• Jesse Edward Franks (Focused Financial Advice) down by two, with one adviser joining Centrepoint Group and one not yet reappointed.
• Oreon Financial Planning down by two, with both advisers moving to RI Advice Group (Rhombus).
• Results Financial Services down by two, both advisers joining Ropan Licesees.
• A tail of 19 licensee owners down by net one each, including Entireti & Akumin Group, Centrepoint Group and Picture Wealth Group.