Surge of new entrants drives adviser numbers early in FY25–26

According to the latest analysis of financial adviser numbers from Wealth Data, 17 new entrants joined the financial advice profession in the week to 17 July.

It follows growth of 18 and 16 over the past two weeks, taking the early FY2025–26 new entrant total to 51.

The surge in new advisers follows ASIC publishing the results of the adviser exam for the June sitting earlier this month, which saw 66 per cent of the 237 candidates achieve a pass.

Overall, the week enjoyed a “nice bounce back”, according to Wealth Data founder Colin Williams, with net growth of 24 advisers.

“For the new financial year, it is a positive 155. The reason for the large financial year growth is that the majority of the advisers ceasing are backdated into June 2025,” Williams said.

“For the week we saw three new licensees bringing the total to 10 for the new financial year to date. Two ceased in the week.”

A total of 83 advisers were affected by appointments or resignations, while the current number of advisers on the Financial Advisers Register (FAR) has reached 15,339.

The analysis also found that three new licensees commenced during the week, with one opening up with four advisers who were previously at Spark Financial Group.

WT Financial Group saw net growth in adviser numbers of three, comprising one new entrant and two advisers coming back into advice after a break.

There were eight license owners up by two, including United Super gaining two advisers coming back after a 12-month break, Rhombus adding an adviser back after a break of several years and another switching from Horsey Jameson Bird, and another new licensee kicking off with two ex-Hillross advisers.

Guideway added two new entrants, Cobalt Advisers gained one adviser each from IPraxis and Enva Australia, while Bell Financial appointed four advisers – two new entrants and two coming back into advice after a break – but losing two advisers who are not showing as being appointed elsewhere.

Williams Buck, Centrepoint, and the remaining new licensee were among the 28 licensees up a single adviser.

ASVW Holdings topped the list of licensee losses, down two, alongside Industry Super Holdings, which lost three advisers but added one from IMFG Pty Ltd.

FSSSP Financial Services (Aware Super), Oreana, and Shaw and Partners were among the 20 licensees down one adviser.