Slight Lift in Latest Adviser Numbers


Advisers numbers have jumped back above 15,600, according to Wealth Data.

The research firm’s Colin Williams says the improvement was driven by the wave of new entrants appearing on the ASIC FAR after officially passing the March Financial Adviser Exam.

Colin Williams.

The current number of advisers now stands at 15,611, a net gain of 14 advisers in the past week.

Opportunities for Advisers

In his latest Financial Adviser Insights Williams also discusses opportunities for advisers, saying the key driver is superannuation.

He says the amount of super assets divided by the number of advisers, sat at $226 million per adviser, as at the December 2024 quarter.

“Back in 2019 it was $88 million per adviser.”

In looking at the total population divided by the number of advisers, Williams says this has risen from 901 people per adviser to 1,723.

Williams says the numbers have been driven by a combination of a slide in the number of advisers and the increase in super assets and the overall population.

…One can look at this as a massive opportunity for the remaining advisers…

“One can look at this as a massive opportunity for the remaining advisers and also how many people will miss out on quality advice due to the scarcity of advisers.”

Williams says that while the number of advisers has steadied recently “…there is room to increase the adviser numbers given that 19,527 have passed the Financial Adviser Exam … a potential pool of some 4,000 advisers.”