There has been a net loss of more than 50 advisers this week as the industry approaches the education pathway deadline.
In the week to 18 December, Padua Wealth Data said adviser numbers fell by 58 which is the largest loss since switching at the start of the financial year saw 190 advisers exit the profession.
A total of 193 advisers were affected by appointments this week, far higher than the typical range of 60-80.
The losses come despite the week seeing gains of 25 new entrants following the latest adviser exam results, the largest of the financial year so far.
Padua Wealth Data founder, Colin Williams, said: “There is an expectation of significant losses as we move in 2026.
“We expect the reporting to start showing steep losses from 8 January and will progress through January until everyone returns to the office, typically after Australia Day.”
A major reason for the losses is the approaching deadline for the education and experience pathway which is expected to see as many as 2,000 advisers exit the profession. Latest ASIC figures are estimating some 2,326 are potentially still on the chopping block if they fail to update their FAR in time.
Some 43 licensee owners had net gains of 57 advisers and 66 licensee owners had net losses of 107 advisers.
Partners Group, Centrepoint Alliance and Centaur Gold Coast were all up by three advisers while United Super, Modoras and FSSSP Financial (Aware Super) were among eight AFSLs up by two advisers.
When it comes to losses, NTAA (SMSF Advisers Network) was down by 19 advisers.
Count was down by six, three advisers each at Count Financial and Merit Wealth, and Entireti & Akumin was down by five. Morgans, MWL Group and Robert Negri (Wisdom Wealth) were all down by three advisers.
A tail of 52 licensee owners, which Padua Wealth Data described as being “very long” for the weekly data, were down by one adviser each including Rhombus and WT Financial Group.
