Will EOFY bring net loss of advisers?

Mike Taylor

Managing Editor/Publisher, Financial Newswire

13 June 2025

The number of advisers on the Financial Adviser Register has remained below 15,600 for another week with the loss of a further seven advisers and ahead of an expected outflow to mark the end of the financial year.

According to the latest analysis from WealthData, there are now 15,585 advisers on the FAR, down from more than 15,600 across the opening months of 2025.

WealthData principal, Colin Williams noted that the approach of the end of financial year would bring with it volatility with some advisers making business and careers decisions.

He described the past week as having been relatively quiet, with advisers numbers on the FAR down by seven, but with four new licensees and five new entrants appearing on the FAR for the first time.

Looking at the likely outcome for the end of financial year, Williams pointed to past experience not that from Jun 15, 2024 to June 30, 2024, i.e. the last two weeks of June 2024, net number of advisers dropped by (-248).

For the previous period in 2023, the numbers dropped by (-225).

“Currently, financial year to date is up +240, so it is not impossible that the gains so far could be wiped out by June 30,” Williams said.

Key Adviser Movements For This Period

• Net change of advisers (-7)
• Current number of advisers at 15,585
• Net Change Calendar 2025 YTD +107
• Net Change Financial YTD +240
• 17 Licensee Owners had net gains of 18 advisers
• 21 Licensee Owners had net losses for (-27) advisers
• Four new licensees and three ceased
• Five new entrants
• Number of advisers active in this period, appointed / resigned: 55.

Growth – Licensee Owners

• Morgans Group up by two advisers, one being a new entrant the other moving across from QInvest, owned by Australian Retirement Trust
• 16 licensees owners up by plus one, this included all four new licensees, Lifespan and Oreana.

Losses – Licensee Owners

• The Trustee for GWK (Williams Halll Chadwick Licensing) down by four. None showing as being appointed elsewhere. This licensee generally provided limited SMSF advice and now has zero advisers
• Financial Services Group Australia – down by two and also down to zero advisers. Both advisers not appointed elsewhere. This licensee has now lost all 12 advisers during this calendar year.
• Insignia also down by two – both from Bridges. One has been appointed at Lifespan and the other is yet to be appointed.
• Pilat Investments also down by two, both advisers moving to a new licensee that commenced earlier this year.
• 17 licensee owners down by net one each including Findex Group, Sequoia and Viridian.