Adviser numbers dive after 8-week growth streak

According to the latest analysis, adviser numbers dropped by net four for the week ending 4 September, bringing the total number of individuals on the Financial Advisers Register (FAR) to 15,407.

This comes after a steady growth rally which saw a net gain of 113 advisers over the last two months, though progress showed signs of slowing with a net gain of just one last week.

Even so, the profession has struggled to reverse the damage done at the end of the last financial year, with adviser numbers still sitting at a net loss of 67 for the 2025 calendar year-to-date.

This was, however, somewhat bolstered by a steady flow of new entrants, bringing in 10 back-to-back weeks of double-digit growth, including 10 new advisers this week. More are expected to commence over the next few weeks with the results of the June adviser exam due to be released soon.

Looking at the weekly movements, some 95 advisers were active in appointments and resignations in the week ending 4 September, and one new licensee commenced while five ceased.

In licensee shifts, a tail of 23 licensee owners were all up by net one adviser each, including Sequoia Group, Lifespan and Morgans Group.

Meanwhile, Entireti and Akumin Group came out on top with a net gain of seven advisers after losing one but appointing eight.

Three licensees saw a net gain of two advisers each with WT Financial Group picking up one from Picture Wealth and another from Associated Concepts, while Consilium Advice nabbed one from Fintegrity Wealth Advisers.

Infocus also saw a net gain of two with one switching from Cobalt and another from Capella Advisory.

At the other end of the spectrum, three licensee owners were down by net three each, with AD Financial Services losing two to Centrepoint Group-owned Alliance Wealth.

MWL Group was likewise down by three after their Australian Financial Services (AFS) licensee – MWL Financial Services Pty Ltd – was cancelled, however, they still have one remaining AFS licensee – MW Planning. ASET Wealth Management is also shown as down by three advisers.

A further four licensees were down by net two advisers each, including Lifestyle Asset Management, Morgan Stanley, AZ Next Generation and Havana Financial Services.

A tail of 24 licensees were down by net one adviser each, including Count Limited, Findex, and Focus Partners Australia Group.