Significant Drop in Adviser Numbers

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Adviser numbers fell by 32, dropping from 15,459 to 15,427. This net reduction is the largest loss since June and may be a sign of things to come as the 1 January qualification deadline edges closer.

Two new licensees commenced operations with a combined total of eight advisers, while three licensees ceased operations.

“The week’s figures are notable,” says Colin Williams, Data Wealth Manager at Padua Wealth.

“There were only three new entrants, but we expect the number of new entrants to ramp up once the financial adviser exam results are released later in the month. There were 95 advisers affected this week, a significant jump on recent weeks.”

As previously reported, the adviser sector is on the verge of a contraction with Williams having already stated a large number will exit the sector before year-end.

Data published by the firm also reveals Centrepoint Group moved ahead of Count to become the second-largest advice firm in the country.

Williams says Centrepoint added two advisers, reaching 589, while Count lost six, dropping to 583.

Five of Count’s losses were at Merit Wealth, where most advisers focus on restricted SMSF advice. Most of these advisers are expected to cease operations by 2026.

See: Padua Flags ‘Significant Contraction’ in Adviser Workforce

Key adviser movements:

  • Net change of advisers: -32
  • Current number of advisers: 15,427
  • Net change 2025 YTD: -44
  • Net change 2025 YTD: +117 (when excluding licensees that provide mostly limited SMSF advice)
  • Net change financial YTD (2025/26): +257
  • Net change financial YTD: +280 (when excluding licensees that provide mostly limited SMSF advice)

Growth – licensee owners:

  • One new licensee commenced with five advisers. The advisers switched from Charter, owned by Entireti & Akumin Group
  • Another new licensee commenced with three advisers, with two advisers switching from Artemis Investments and one from Financial Force
  • Centrepoint Group is up by net two advisers, appointing five advisers at Alliance Wealth, with three switching from Interprac owned by Sequoia and two coming back into advice after a break of several months. Lost three advisers, two are yet to be appointed elsewhere and one switched to TFG Australia
  • A tail of just 13 licensee owners up by net one each including WT Financial Group, Picture Wealth Group and Canaccord


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