InterPrac loses a further eight advisers

Mike Taylor

Managing Editor and Publisher

17 April 2026

Currently the subject of Australian Securities and Investments Commission (ASIC) legal action over its proposed sale to Conquest Investment Partners, Sequoia-owned licensee, InterPrac, this week lost a further eight financial advisers, according to the latest analysis from Padua’s WealthData.

WealthData principal, Colin Williams said seven of the eight InterPrac advisers had been appointed elsdwhere.

At the same time, the WealthData analysis provided an update on the loss of 85 advisers from the SMSF Advisers Network last week, with 47of them having moved under the Advice Asst Australia license.

Williams noted that Advice Assist Australia has a broader licence offer than that which had been offered under the SMSF Advisers Network offer, but said that of the 62 advisers currently operating under the Advice Assist AFSL, only 21% could use a Wrap to offer investments.

“So, most will provide limited SMSF services,” he said.

Also adding to the Financial Adviser Register this week were 18 new entrants who appeared to be the product of having passed the latest Financial Adviser exam.

Key Adviser Movements for the week

• 15,125 current advisers
• Net change of advisers +66
• 39 licensee owners had net gains of 98 advisers
• 20 licensee owners had net losses of (-30) advisers
• 3 new licensees and 3 ceased
• 18 new entrants
• 125 advisers affected by appointments / resignations.

Other key dates affected by this week’s data

• Net Change Calendar 2026 YTD +71. At the same date last year it was +132
• Net Change Financial YTD (2025/26) (-44)
• Net change last 12 months (-472).

Growth – Licensee Owners

• NTAA up by 47. As mentioned above, this was due to switching some of the advisers to Advice Assist that exited last week from the their SMSF Advisers Network licensee
• Entireti & Akumin Group up by five, two being new entrants, two coming back into advice after last being on the FAR back in 2017 and another adviser who was last on the FAR in 2023. This indicates a number of advisers finding a way back into the advice market.
• O & Z Pty, (Havana Financial Services) up by three, all three joining from InterPrac.
• Six licensee owners up by two each including:
  • Vivid Holdco (Viridian), both new entrants
  • Picture Wealth, with one adviser moving from Shadforth owned by Insignia and one from Akumin Financial Planning
  • Morgan Stanley, both new entrants
  • Centrepoint Group, one switching from Infocus Securities and the other from Hunter Green
• 29 licensee owners up by one each, including Koda Capital, Canaccord and all three new licensees that commenced with one adviser each.

Losses – Licensee Owners

• Sequoia Group down by eight, as mentioned above, three joining Havana Financial Services, two commencing their own licensees, one switching to Australian Mortgage and Financial Advisers and one moving to PGW Financial Services. One adviser yet to be reappointed.
• Three licensee owners down by two
  • Arthur J Gallagher (Gallagher Benefit Services), neither appointed elsewhere
  • Complete Commerce – now down to zero and neither appointed elsewhere
  • Fitzpatricks Group and neither appointed elsewhere
• 26 licensee owners down by net one each including; Count Limited, Macquarie Group and Bluewater Financial.