Only four licensees saw double-digit adviser losses over the Christmas and New Year period but a tail of more than 100 AFSLs were down by one each.
Over the period from 18 December to 8 January, Padua Wealth Data said 161 licensees reported losses over the period.
Four licensees were down by 11: NTAA (SMSF Advisers Network), Sequoia Group, Telstra Super and WT Financial Group. In the case of NTAA, the AFSL has lost more than 100 advisers (109) since the start of 2025.
With NTAA focusing on SMSFs, when advisers operating in mostly restricted SMSF licenses are excluded from the annual numbers, the calendar year losses for 2025 drop dramatically from 325 to 105.
However, these numbers may yet change as licensees have up to 30 days to backdate their changes.
Elsewhere, Fiducian was down by seven over the period while Count, NAB Bank, Morgan Stanley and Accru were down by five. Affinity Accountants, Argonaut Securities and Entireti & Akumin Group were all down by four each.
There was a long tail of 116 licensees which were down by one each, 26 AFSLs down by two advisers and four down by three advisers.
Overall, 161 licensee owners had net losses of 278 advisers and 26 licensees ceased operations.
On the growth front, six licensee owners had net gains of 43 advisers and five new licensees commenced, two of which commenced with three advisers each.
Three licensees increased by two advisers each including Partners Wealth Group with advisers switching from MI Private Wealth and a new licensee which gained advisers switching from Fortnum.
A tail of 31 licensees were up by one each including Finchley & Kent and ANZ Banking Group.
While there was a net loss of 223 advisers during the period, this was better than expected as estimates had forecast there could be as many as 2,000 exits.
In December, ASIC said some 2,326 relevant providers of the 15,469 on the register hadn’t flagged their use of the experience pathway and were yet to meet the incoming education standards, signalling a potential 15 per cent decline in adviser numbers before the end of the year.
In accordance with the Corporation Amendment (Professional Standards of Financial Advisers) Act passed in 2016, individuals who were unable to meet the experience pathway criteria and wished to continue operating as an adviser past 30 December 2025 were required to meet higher minimum education and training standards to continue as a financial adviser.
