Financial Adviser exam keeps numbers positive

Mike Taylor

Managing Editor and Publisher

24 April 2026

Those who passed the March Financial Adviser Exam are continuing to flow onto the Financial Adviser Register (FAR), offsetting the adviser exits of late March but total numbers are still well down on the same time last year.

According to analysis of the FAR by Padua’s WealthData, adviser numbers rose by a further 10 this week, after rising by 66 last week, with WealthData principal, Colin Willaims noting the impact of the Financial Adviser Exam.

He said the exam resulted in 11 new advisers joining the FAR this week, ensuring net numbers remained in positive territory.

As has become common in recent weeks, Sequoia-owned licensee InterPrac saw the departure of more advisers – this time four, three of whom are yet to be appointed elsewhere.

Key Adviser Movements for the week

• 15,135 current advisers
• Net change of advisers +10
• 27 licensee owners had net gains of 39 advisers
• 23 licensee owners had net losses of (-32) advisers
• No new licensees and 3 ceased
• 11 new entrants
• 86 advisers affected by appointments / resignations.

Other key dates affected by this week’s data

• Net Change Calendar 2026 YTD +81. At the same date last year it was +123
• Net Change Financial YTD (2025/26) (-34)
• Net Change Last 12 months (-459)

Growth – Licensee Owners

• Endeavour Asset Management up by five, all five advisers switched from InterPrac – Note: The four InterPrac advisers shown as losses in the previous week
• NTAA up by four, additional switching continued from the ‘old’ SMSF Adviser Network to Advice Assist. Six advisers switched. However, two advisers at Advice Assist ceased. Of interest, the two that ceased only switched over in the last couple of weeks
• Two licensee owners up by three:
  • Findex, advisers coming from Gallagher Benefit Services, GWM Adviser Services & Bombora Advice
  • Fiducian Financial, two advisers, one coming from Entireti and one from Ivy Markets and one new adviser entering the scene
• Consortium Private up by two, both transitioning from the former SMSF Adviser Network
• 22 licensee owners up by one each, including WT Financial, Rhombus Enterprise and Infocus with no new licensees commencing.

Losses – Licensee Owners

• Entireti down by five, lost seven advisers not appointed elsewhere, one switching to Fiducian Financial, one new adviser and one adviser recommencing after a break
• Sequoia down by four, one switching to Alliance Wealth and three not appointed elsewhere
• Two licensee owners down by two,
  • Count, lost three advisers and appointed one from Synchron Advice
  • Licentium Services, lost two advisers leaving the licensee with no advisers
• 19 licensee owners down by net one each including; Canaccord, CentrePoint Group and LifeSpan.