Is licensee lethargy clouding adviser data?

Mike Taylor

Managing Editor/Publisher, Financial Newswire

23 January 2026

Financial adviser numbers remain solidly above 15,000 despite 468 advisers having ceased on the Financial Adviser Register (FAR) since the beginning of December, according to the latest analysis from Padua’s WealthData.

The bottom line is that there are currently 15,136 advisers on the FAR and there was a net loss of just nine advisers over the past week, a far cry from pre-Christmas expectations of a major exodus.

According to WealthData principal, Colin Williams the ultimate impact of the education requirements which came into effect from 1 January remains difficult to determine because of a number of sometimes contradictory factors, not least licensees updating their data.

“Based on the latest weekly ASIC ‘point-in-time’ data dated January 15, 2026 (designed specifically to track Experienced Pathway and qualifications), and cross referenced with today’s FAR highlights the following:

• 185 advisers that have not flagged as either ‘Yes’ or ‘No’ to the Experienced Pathway (EP), still show as not having qualifications meeting the 2026 standards
• 74 of those advisers may be eligible for the EP
• 36 advisers have indicated they will not take up the EP but have no qualifications
• 67 advisers flagged for the EP took the FASEA exam after October 2022 and are therefore likely to be ineligible for the EP

Williams said much will depend on licensees bringing their adviser reporting obligations to ASIC up to date.

Key Adviser Movements for the week

• 15,136 current advisers
• Net change of advisers (-9)
• 29 licensee owners had net gains of 36 advisers
• 28 licensee owners had net losses of (-45) advisers
• Zero new licensees and three ceased
• 11 new entrants
• 85 advisers affected by appointments / resignations

Other key dates affected by this week’s data

• For calendar year 2025, total loss is currently showing (-387)
  • Net change of (-135) when excluding licensees that provide mostly limited SMSF advice
• Net Change Calendar 2026 YTD +50*
• Net Change Financial YTD (2025/26) (-35)
  • Net change of +77 when excluding licensees that provide mostly limited SMSF advice

*Note: Most losses backdated into 2025 and new appointments dated in 2026 hence a strong start to 2026.

Growth – Licensee Owners

• Centrepoint Group up by six, with four switching from Interprac owned by Sequoia, one moving across from Viridian and one new entrant
• Rhombus Enterprises up by three, one new entrant, one moving across from Gallagher Benefit Services and one coming back into advice after a short break
• A total of 27 licensee owners up by net one including Templestone Financial, Count Limited and Bombora

Losses – Licensee Owners

• Sequoia down by seven, with two showing as joining Alliance Wealth owned by Centrepoint and one joining Havana Financial Services. The remaining four not showing as being appointed elsewhere to date
• NTAA (SMSF Adviser Network) down by five with six ceasing and not appointed elsewhere and one re-joining after ceasing in mid December and re-joining in mid January 2026
• Hejaz Capital down by three with one joining Advocate Advisory, another joining Alethia Partners and the remaining adviser yet to be appointed elsewhere
• The Parity Group also down by three and moving to zero advisers, one adviser joining Connectus AFSL Ltd and the other two advisers yet to be appointed elsewhere
• Three groups down by two each:
  • Lifespan, one joining Avana Financial services and the other not appointed elsewhere
  • Now Financial Group, down to zero advisers, with neither showing as appointed elsewhere
  • Strategic Finance Partners, both not appointed elsewhere
• And 21 licensee owners down by one each including Entireti & Akumin Group, Industry Super Holdings and NAB Bank