New entrants continue to bolster adviser numbers, still in the red for 2025

Adviser numbers have locked in another back-to-back gain this week, but they still have a long way to go to reverse the net losses for the calendar year, which remains in triple digits.

The latest Wealth Data figures revealed adviser numbers are continuing in an upward trend following the tumble just before the end of the financial year, with a net gain of 16 advisers for the week ending 24 July, pushing the total up to 15,355.

Bolstering this, the profession saw 10 new entrants this week. Meanwhile, three new licensees commenced with none ceasing and 62 advisers were active in appointments and resignations.

Looking at weekly movements, one of the new licensees commenced with four advisers, all of whom were previously with Fortnum Private Wealth.

WT Financial Group backed in another positive week with a net gain of three, including two new entrants and one returning adviser, bringing the firm’s net gain for the financial year so far up to 16.

PFK Wealth Newcastle also picked up two new entrants and Walker Lane gained two from ASV Financial Services for a net gain of two each.

Another new licensee commenced with two advisers from Advice Loop, while Canaccord Group picked up two from Bell Group and Alteria Financial nabbed one each from Australian Financial Freedom and The Advice Exchange.

A tail of 20 licensees, including Spark Financial Group, Picture Wealth and Centrepoint, were all up by net one adviser each. On the other end of the spectrum, 11 licensees were down by net one each, including Shaw and Partners and Advice Evolution.

Meanwhile, Entireti was down by six this week, with four heading to a new licensee and another three leaving but yet to be appointed elsewhere, though the firm did manage to pick up one of this week’s new entrants.

Sequoia Group was down by net two, neither of which have been reappointed elsewhere yet, and Bell Financial lost two advisers to Canaccord.