Adviser numbers – movement without real growth

Mike Taylor

Managing Editor/Publisher, Financial Newswire

30 May 2025

The latest data derived from the Financial Adviser Register continues to reinforce that adviser numbers have stabilised at a little over 15,500.

According to analysis from WealthData’s Colin Williams churn between licensees remained the dominant factor in the profession in circumstances where 48 advisers changed status on the FAR but there were only four new entrants.

Key Adviser Movements For This Period

• Net change of advisers +1
• Current number of advisers at 15,601
• Net Change Calendar 2025 YTD +124
• Net Change Financial YTD +257
• 19 Licensee Owners had net gains of 23 advisers
• 19 Licensee Owners had net losses for (-22) advisers
• Two new licensees and none ceased
• Four new entrants
• Number of advisers active in this period, appointed / resigned: 48.

Growth – Licensee Owners
Three licensee owners up by two advisers each:

• A new licensee commenced with three advisers as a practice moved away from Akumin, owned by Entireti & Akumin Group.
• Perpetual up by two with both advisers moving from Ord Minnett Group
• Partners Wealth Group also up by two, one coming back onto the ASIC FAR after several years break and one from Crestone Wealth Management.
• 16 licensees owners up by plus one including WT Financial Group, Capstone and Spark Financial Group.

Losses – Licensee Owners

• Entireti & Akumin Group down by three, after losing three advisers to the new licensee as mentioned above, another adviser also starting their own licensee, one to Expert Wealth. They gained two advisers, one coming back to advice after a two-year break from advice and one from Lifespan.
• Rhombus Advisory down by two, both yet to be appointed elsewhere.
• A tail of 17 licensee owners down by net one each including Count Limited, Insignia Group and Morgans.