The number of financial advisers has recorded its first weekly decline of the 2025/26 financial year, falling by four to 15,407, according the latest ASIC stats shared by Padua Wealth Data.
ASIC’s Financial Adviser Register to Thursday 4 September shows 10 new entrants were added, but their arrival was outweighed by 14 experienced advisers ceasing. Five licensees closed during the period, while one new licensee – 4 Pillars Adviser Services – entered the market.
Movements across licensee owners were mixed, with 27 reporting net gains of 36 advisers, while 31 recorded combined losses of 41 advisers.
Entireti & Akumin Group led the growth, rising by seven advisers after hiring eight and losing one. Appointments included two new entrants, two advisers from Wealthmed Financial, and others from various licensees.
WT Financial Group, Consilium Advice and Infocus each added two advisers, while 23 licensee owners gained one apiece, including Sequoia Group, Lifespan and Morgans.
On the downside, AD Financial Services, MWL Group and ASET Wealth Management each lost three advisers. Four others fell by two, including:
- AZ Next Generation
- Lifestyle Asset Management
- Morgan Stanley
- Havana Financial Services
A further 24 licensee owners recorded net losses of one adviser, among them Count, Findex and Focus Partners.
Focus Partners also undertook significant consolidation, shifting advisers across its entities and closing Brady & Associates and Alpha Asset Management, leaving the group down by just one adviser overall.
Licensee closures steady
So far this calendar year, 67 new licensees started, but 56 stopped (each having zero advisers), leaving a net gain of 11.
Despite this week’s closures, the broader trend in licensee formation remains positive, states Padua Wealth Data Manager Colin Williams.
“Holistic financial planning groups continue to drive growth, with a net gain of 34 licensees in that model, while limited-advice models tied to accounting and SMSFs are in decline, losing nine and adding only one,” he says.
