The number of new licensees continues to slow according to the latest figures from Padua Wealth Data.
So far this financial year, 29 licensees have commenced and 26 have ceased operations – a net gain of just three. This compares with 47 starting and 30 stopping over the same period in 2024.
There has been a net increase of 289 advisers this financial year, up from 160 during the same period last year. This recovery follows a difficult first half, when 301 advisers exited the industry by June.
The shift has been especially noticeable among large groups that were previously under pressure. Count (down 89) and Entireti & Akumin Group (down 58) were among those hit hardest in the first half, with six of the top 10 groups losing advisers.
However, those same players have been rebuilding with Entireti & Akumin adding 22 advisers, Count 12, and WT Financial Group 14 since July.
Centrepoint Alliance has seen the strongest recent growth, adding five advisers, with four joining Akumin Financial Planning. The gain takes Centrepoint’s total to 584 advisers, keeping it in third place nationally and just 11 behind Count’s 595.
Bombora Advice has grown by three advisers, all joining from Wealth Architects Life. WT Financial Group added two, one being a new entrant and another returning to advice after a break.
Seventeen licensee owners recorded a net gain of one adviser each, including Spark Partnership Group, Rhombus, and Phillip Alexander.
As at 30 October there were 15,461 advisers.
