Adviser numbers continue slow recovery after EOFY losses
The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains.
According to the latest Wealth Data analysis, adviser numbers are now sitting at 15,373 for the week ending 7 August after a month in the green, bringing the net gains for the 2025–26 financial year to 195.
A steady flow of double-digit new entrants has proved valuable over the last month with a total of 73 since the start of July, including 14 this week, which could be further bolstered in September by the ASIC exam held on 7 August.
Meanwhile, 103 advisers were active in appointments and resignations for the week ending 7 August, and one new licensee commenced while two ceased.
Looking at weekly movements, Entireti and Akumin Group have seen a turnaround following back-to-back losses of 17 with a net gain of seven advisers, including six who moved across from Interprac.
Three licensees were up by net three, including Rhombus Advisory picking up two new entrants plus an adviser who returned after a break, Navigate Manly nabbing three from Akumin Financial Planning, and Lifestyle Asset Management which gained two from PictureWealth and another returning adviser.
Meanwhile, Integrity Financial Planners was up by net two after nabbing one of the new entrants and having another adviser return after a break. Centrepoint Group also gained net two after hiring three new advisers, including a new entrant and one each from Advocate Advisory and Paragem, and losing one to Templestone.
A tail of 23 licensees were up by net one adviser each, including Oreana Financial, Lifespan, and Canaccord.
On the other end of the spectrum, Sequoia Group lost six advisers to Entireti but gained one who returned after a break for a net loss of six, while Australia Pacific Funds Management and NTAA were both down by net three each.
Count Limited lost four advisers but gained back two, one from Fortnum Private Wealth and another returning, for a net loss of two, and Infocus lost two with one heading to Personal Financial Services – which is owned by Entireti and Akumin Group – and another yet to be appointed elsewhere.
Janus Financial, Ord Minnet, Valor Financial Group, and Politis Investment were all down by net two advisers each, all of whom are yet to be reappointed, and a tail of 13 licensees were all down by net one each, including Morgan Stanley, Togethr Trustees, and Unisuper.
AUTHOR
Shy-Ann Arkinstall
Recommended for you
WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
The Australian Wealth Advisors Group has entered into a joint venture with a Melbourne financial services firm to launch a wealth manager.
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
Stakeholders in the professional year discussion underscore the challenges in the current pipeline and what is holding back licensees from taking on new candidates.
