InterPrac loses 65 advisers in six months

Mike Taylor

Managing Editor/Publisher, Financial Newswire

27 February 2026

Under scrutiny financial advise licensee, InterPrac has lost a net 65 financial advisers over the past six months, according to the latest analysis from Padua’s WealthData.

The WealthData summation comes just days after InterPrac’s parent, Sequoia Financial Group, released its half-year results in which chief executive, Gary Crole said a strategy is in place to “progressively rebalance earnings away from historical reliance on InterPrac.

He confirmed a comprehensive review of InterPrac would be completed by June.

WealthData principal, Colin Williams noted that analysis of the Financial Adviser Register (FAR) showed that InterPrac lost a further eight advisers over the past week bringing to 40 the number lost so far in 2026 and noted to Financial Newswire that the AFSL had boasted 320 financial advisers in February, 2025.

The advisers departing InterPrac have turned up at a number of major licensees, with the latest WealthData analysis showing four now being authorised by InFocus and two going to a newly-registered licensee.

Key Adviser Movements for the week

• 15,140 current advisers
• Net change of advisers (-3)
• 24 licensee owners had net gains of 32 advisers
• 24 licensee owners had net losses of (-36) advisers
• 4 new licensees and 5 ceased
• 2 new entrants
• 63 advisers affected by appointments / resignations.

Other key dates affected by this week’s data

• Net Change Calendar 2026 YTD +71
• Net Change Financial YTD (2025/26) (-31)
• Net change last 12 months (-434).

Growth – Licensee Owners

• Four licensee owners up by two each:
  • Infocus up by four with all four advisers switching from InterPrac owned by Sequoia
  • Entireti & Akumin Group up by three; hiring four across the group with two from different licensees, one coming back into advice after a break of some several years and one new entrant. The adviser that ceased is not showing as being appointed elsewhere to date
  • A new licensee commenced with three advisers, switching from Fortnum Private owned by Entireti & Akumin Group
  • Another new licensee commenced with two advisers, both switching from InterPrac.
• A total of 20 licensee owners up by net one including: Macquarie Group, Lifespan and Cobalt Advisers. The remaining two new licensees also commenced with one adviser each.

Losses – Licensee Owners

• Sequoia down by eight with most of the losses noted above. For the last two weeks they are down by 12, for this calendar year down by 40 well ahead of Telstra with the next highest loss at eight. Over the past six months they are down by 65, the most losses by any group over six months.
• Count Limited down by five across three licensees and none showing as being appointed elsewhere to date
• David Harrison – Money Options, down by two, both not showing as being appointed elsewhere. Money Options is down to zero advisers.
• A tail of 21 licensee owners down by net one each including Findex Group, Insignia Group and Apex Macro Financial Group. The four remaining ceased licensees, all only had one adviser each that resigned this week.