SMSF Adviser Network loses 85 advisers from FAR

Mike Taylor

Managing Editor and Publisher

10 April 2026

Financial adviser numbers are now hovering just above the 15,000 mark as a result of the result of the loss of 85 advisers this week, all of them from the SMSF Adviser Network.

According to analysis from Padua’s WealthData, the Financial Adviser Register (FAR) showed the SMSF Adviser Network losing the 85 advisers to drop to zero, with Colin Williams noting that the license has been controlled by the National Tax & Accountants Association and offering restricted adviser services.

He said WealthData had sought clarification of the situation from the SMSF Adviser Network.

Financial adviser numbers now sit at just 15,059, the lowest number in more than two years.

Key Adviser Movements for the week

• 15,059 current advisers
• Net change of advisers (-88)
• 27 licensee owners had net gains of 29 advisers
• 29 licensee owners had net losses of (-115) advisers
• 3 new licensees and 1 ceased
• 10 new entrants
• 152 advisers affected by appointments / resignations.

Other key dates affected by this week’s data

• Net Change Calendar 2026 YTD +5. At the same data last year it was +122
• Net Change Financial YTD (2025/26) (-110)
• Net change last 12 months (-527).
• Resignations and ceased on the FAR – Since Dec 1, 2025 the number has now risen to 691 and includes the advisers noted today from the SMSF Adviser Network.

Growth – Licensee Owners

• Quill Group Holdings (Quill Group Financial Planners), up by two and both are also currently showing as being authorised at TW Licensee Services
• Philborne Pty Ltd (Dirigere Advisory Pty Ltd), also up by two, both advisers switching from Finchley & Kent
• 25 licensee owners up by one including WT Financial Group, Lifestyle Asset Management and all three new licensees

Losses – Licensee Owners

• NTAA down by net 82, with 85 advisers being removed from their SMSF Adviser Network licence, which is now down to zero advisers. All but the two that switched to Adviser Assist Licensee also controlled by NTAA, are not showing as being appointed elsewhere to date.
• Four licensee owners down by two: Note, in all cases, none of the advisers have been appointed elsewhere
  • Canaccord Genuity
  • Entireti & Akumin Group
  • Plan 2 Pty Ltd
  • Rhombus Enterprises
  • River X Financial Services
• 23 licensee owners down by net one each including; Fiducian, Insignia Group and Centrepoint Group.