Sequoia adviser numbers still in decline

Mike Taylor

Managing Editor/Publisher, Financial Newswire

6 February 2026

Sequoia Financial Group has experienced 55 financial adviser losses since the beginning of October, last year, according to the latest analysis of the Financial Adviser Register by Padua-owned WealthData.

The analysis noted that Sequoia, which has been the focus of regulator attention around the collapse of the Shield Master Trust, had lost a further 10 advisers from the FAR this week, with 11 leaving the company and one joining.

The analysis also pointed out that of the 55 advisers no longer listed under Sequoia, 40 had been reappointed to other licensees.

According to the WealthData analysis, total financial adviser numbers are now down to 15,150 with the total number to have cased on the FAR since the beginning of December now totalling 504.

WealthData principal, Colin Williams noted that uncertainty still existed around the intention of 120 advisers who may or may not use the Experienced Pathway.

Key Adviser Movements for the week

• 15,130 current advisers
• Net change of advisers (-8)
• 31 licensee owners had net gains of 38 advisers
• 23 licensee owners had net losses of (-47) advisers
• 1 new licensees and 3 ceased
• 10 new entrants
• 89 advisers affected by appointments / resignations

Other key dates affected by this week’s data

• For calendar year 2025, total loss is currently showing (-400)
  • Net change of (-145) when excluding licensees that provide mostly limited SMSF advice
• Net Change Calendar 2026 YTD +57
• Net Change Financial YTD (2025/26) (-41)
  • Net change of +73 when excluding licensees that provide mostly limited SMSF advice.

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

Growth – Licensee Owners

• Lifespan up by three with all advisers switching from three different licensees, Interprac owned by Sequoia, LFC Group and Hejaz Financial Advisers
• Five licensee owners up by two each:
  • A new licensee (details given to members) with advisers moving from FYG Planners
  • The Trustee for CCAFP (CCAFP Wealth) with both moving across from Interprac
  • FSSSP Financial Services (Aware Super), one coming across from Fortnum Private owned by Entireti & Akumin Group and ART Financial Advice (Australian Retirement Trust).
  • Entireti & Akumin Group, losing one adviser at Hillross and picking up three at Akumin Financial Planning, with one each from Core Value FA and ASVW Financial Services, and one adviser coming back after a break of 2 years.
  • Advice Evolution with one from Interprac and one coming back into advice after last being on the FAR back in 2019.
• A total of 25 licensee owners up by net one including Centrepoint Group, Capstone and Picture Wealth.

Losses – Licensee Owners

• Sequoia Group down 10 advisers. This week: 11 left, 1 joined. Since 1 Oct 2025: 55 resignations, 4 hires. Of the 55 who resigned, 40 were reappointed: 14 to Centrepoint Group, 4 to Lifespan, 3 to Advice Evolution, and 14 to various small licensees (each with under 20 advisers).
• Telstra Super down by eight – note, due to upcoming merger with Aware Super, Telstra will be using Aware Super AFSL for its advice. None of the eight have been reappointed elsewhere to date.
• Bombora Advice down by four, none appointed elsewhere to date
• The Trustee for Mancel Family Trust (FYG Planners) down by three, two commencing their own licensee and one joining Apex Macro Financial
• Three licensee owners down by net two each:
  • Hejaz Capital, both not appointed elsewhere
  • MJC Partners and now down to zero advisers. Neither adviser appointed elsewhere
  • Wing Plan Pty Ltd and both not appointed elsewhere
• A tail of 16 licensee owners down by net one each including, Findex, Shartru and Industry Super Holdings.