Fewer than 5000 will use experienced pathway

Mike Taylor

Managing Editor and Publisher

22 August 2025

Just under a third of financial advisers are intending to use the experienced pathway bit there exists confusion amongst some about whether they are actually qualified to do so.

New analysis by WealthData of recently released datasets on the Financial Adviser Register (FAR) has revealed the level of confusion which appears to exist on the part of some advisers while, at the same time, confirming, the value of the pathway to others.

WealthData principal, Colin Williams points out that to qualify for the experienced pathway advisers have to have started in the profession before 31 December, 2011, and that among those falling into that category the following has emerged:

• 4,493 said yes to using EP
• 1,944 said no
• 2,590 have not stated their intention

“Additionally, 218 advisers who started after 2012 claimed they will use EP, which indicates that ASIC data could be incorrect or advisers have made some errors or a bit of both,” Williams said.

He noted that 47 advisers said they would use EP but missed the deadline for passing the Financial Adviser Exam of October 2022 in order to qualify for the EP.

Key Adviser Movements For This Period

• Net change of advisers +15
• Current number of advisers 15,410
• Net Change Calendar 2025 YTD (-64)
• Net Change Financial YTD (2025/26) +232
• 28 Licensee Owners had net gains of 33 advisers
• 14 Licensee Owners had net losses for (-17) advisers
• 1 new licensee and none ceased
• 16 new entrants
• Number of advisers active in this period, appointed / resigned: 58.

Growth – Licensee Owners

• Five licensee owners up by net two:
  • Sshhut Holding Pty Ltd both being new entrants
  • Ord Minnett Group, one new entrant and one adviser who was previously at Perpetual
  • New Licensee, both adviser still authorised at what appears to be an associated licensee
  • Endevavor Asset Management, both being new entrants
  • Count Limited, hiring four advisers and losing two. Count Financial appointed one new entrant and one adviser returning to Count, and losing one adviser who is yet to be appointed elsewhere. GPS Wealth hired two advisers from Aware Super and lost one adviser to Financial Design Group.
• A tail of 23 licensees up by net one including WT Financial Group, Spark Partnership and rhombus.

Losses – Licensee Owners

• Three licensee owners down by net two each:
  • Morgans Group, one adviser switching to Lionsgate and the other is yet to be appointed elsewhere.
  • Sequoia with one adviser switching to Trend Investor Services and the other who commenced his one licensee a couple of weeks back.
  • Mancell Family Trust (FYG Planners), one switching to Insight Investment Services and the other yet to be appointed elsewhere.
• A short tail of 11 down by net one each including Insignia, Shaw and Partners and Entireti & Akumin Group.