Which licensees are leading FY26 gains?
One advice licensee has been identified as a leader in gains for the new financial year, having gained 16 advisers over the last four weeks.
The latest Wealth Data figures revealed adviser numbers are continuing in an upward trend following big losses before the end of the financial year with a net gain of 16 advisers for the week ending 24 July, pushing the total up to 15,355.
Bolstering this figure, the profession saw 10 new entrants join this week. Meanwhile, three new licensees commenced with none ceasing, and 62 advisers were active in appointments and resignations.
This brings the net change for the calendar year to a loss of 117, but a gain of 175 for the FY26 financial year so far.
Looking at specific firms, WT Financial has been namechecked by Wealth Data as having the “strongest start” of all licensees for the new financial year with gains of 16 advisers, bringing their number to 519. This week’s gains include two new entrants and one adviser returning to advice after a break of several years.
This is followed by a smaller licensee Guideway Financial Services which has gained 11 to stand at 34 advisers, including eight from MUFG Retire360 and two new entrants, and Count which has gained 10 advisers.
While WT Financial has seen strong gains for the financial year, the net change is flat for the 2025 calendar year, and it still sits behind larger players such as Count which has 592 advisers and Centrepoint Alliance which has 579.
Earlier this year, WT Financial announced it had entered into a joint venture with the local subsidiary of New York-based financial advice investor Merchant Wealth Partners. The joint entity will look to provide strategic growth capital to high-potential financial advice practices nationwide, broadly in line with Merchant Wealth’s global model.
“Entrepreneurial practices are increasingly looking for our support in facilitating M&A activity as the profession continues to modernise and evolve to a more corporatised model,” WT chief executive Keith Cullen said.
It has already entered into a heads of agreement in April to bring together Titan Financial Planning, Darwin Financial & Retirement Services, and Wealth Connect Financial Services to form one larger entity.
Weekly gains
Meanwhile, one new licensee commenced with four advisers who were previously at Fortnum Private Wealth, while another new licensee commenced with two advisers from Advice Loop.
PFK Wealth Newcastle also picked up two new entrants and Walker Lane gained two from ASV Financial Services, for a net gain of two each. Canaccord Group picked up two from Bell Group, and Alteris Financial nabbed one each from Australian Financial Freedom and The Advice Exchange.
A tail of 20 licensees, including Spark Financial Group, PictureWealth and Centrepoint, were all up by net one adviser each.
On the other end of the spectrum, Entireti and Akumin Group were down by six this week, with four heading to a new licensee and another three leaving but yet to be appointed elsewhere, though the firm did manage to pick up one of this week’s new entrants.
Sequoia Group was down by net two, neither of which have been reappointed elsewhere yet, and Bell Financial lost two advisers to Canaccord. A tail of 11 licensees were down by net one each, including Shaw and Partners and Advice Evolution.
AUTHOR
Shy-Ann Arkinstall
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