New entrants continue to bolster FY26 adviser numbers

The latest Wealth Data analysis revealed a further 16 new entrants for the week ending 21 August, bringing the total for the current financial year up to 119.

This is expected to surge further in the coming weeks, according to Wealth Data founder Collin Williams, as the results of the 7 August adviser exam sitting are released.

Even so, the profession is yet to recover from the heavy losses seen in June ahead of the end of the financial year, currently sitting at a net loss of 64 for the new financial year-to-date.

However, 2025 has seen overall steady growth with a net gain of 232 this calendar year-to-date, including a gain of 15 this week, bringing the current total individuals on the Financial Adviser Register (FAR) to 15,420.

Looking at the weekly movements, 58 advisers were active in appointments and resignations during the week ending 21 August, while one new licensee commenced and none ceased.

Meanwhile, a total of 28 licensees had net gains of 33 advisers, including Sshhut Holding and Endeavor Asset Management with both picking up two new entrants, and Ord Minnett Group, which nabbed one adviser from Perpetual and another of the new entrants.

Count Limited likewise saw a net gain of two with GPS Wealth hiring two advisers from Aware Super and losing one to Financial Design Group, while Count Financial snagged one new entrant, had another return after a break and lost one that is yet to be appointed elsewhere.

This week's new licensee also commenced with two advisers, both of which are still authorised at an associated licensee, and a tail of 23 licensees were up by net one adviser each, including WT Financial Group, Spark Partnership and Rhombus.

At the other end, three licensees saw a net loss of two advisers each, with Morgans Group losing one to Lionsgate and another that is yet to be reappointed elsewhere, and FYG Planners which had one switch to Insight Investment Services and another also yet to be reappointed.

Meanwhile, Sequoia lost one adviser to Trend Investor Services and another that commenced his own licence several weeks ago for a net loss of two. A short tail of 11 licensees were all down by net one adviser each, including Insignia, Shaw and Partners, and Entireti and Akumin Group.