Adviser numbers boast strong recovery in 1Q25
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
The first three months of the 2025 calendar year produced a net rise of 76 advisers, according to the research firm.
It reflects a strong recovery from a loss of 50 advisers in the first quarter of 2024, noted Wealth Data founder and director Colin Williams.
Growth for the calendar year as a whole is 100 advisers.
“At first sight this may look out of sync with the current calendar year growth of 100. However, what has occurred is that many of the advisers ceasing, including for switches, have done so right at the end of March and appointments came in April,” Williams explained.
The number of new entrants who joined the profession also increased by 40 per cent, from 86 in Q1 of 2024 to 121 in Q1 of 2025 – a welcome gain of 35 new advisers.
Williams attributed a large portion of this to advisers returning to the industry.
Looking at growth in specific licensee owners, Partners Wealth Group leads the way with gains of 31 advisers for the quarter. The Australian Financial Services Licence (AFSL) was previously under the Entireti & Akumin umbrella, according to Williams, the rebranded name for the acquired AMP businesses.
Endeavor Asset Management and Centrepoint Alliance both followed with an increase of 29 and 19 advisers, respectively.
In terms of licensee owner declines, Chris MacEachern is down by 29 advisers for the quarter, with all moving to Endeavor, Wealth Data stated. Meanwhile, Entireti and Count have lost 25 and 23 advisers each respectively.
The number of new AFSLs opening up shop is slightly down from 35 in the prior corresponding period to 27 currently. Licensees that have ceased, however, are at just 13 for 1Q25 compared to 27 in 1Q24.
A decline for the week
In the week ending 3 April 2025, there was another minor decrease of net two advisers following the net one decline in the prior week, which broke 10 consecutive weeks of growth.
This week’s drop was in “some part” driven by the lower number of new entrants at just four, Williams observed. Three new licensees commenced operations, two ceased, and 90 advisers were active with appointments or resignations.
Some 27 licensee owners experienced net losses of 49 advisers in total. Namely, Australian Advice Network bid farewell to nine advisers who moved to The Principal Edge after losing three in the previous week.
Four licensee owners lost three advisers each and another six decreased by two advisers each, including Rhombus Advisory, Sequoia Financial Group, Shaw and Partners, and WT Financial Group.
A tail of 16 licensee owners fell by one adviser each, such as Count, Janus Financial and PSK.
On the other end of the spectrum, 28 licensee owners enjoyed net gains of 46 advisers in total.
The Principal Edge welcomed nine advisers who all joined from Australian Advice Network, while Entireti gained four advisers.
Three licensee owners increased by three advisers each, such as Infocus, while Partners Wealth Group was up by two advisers.
A final tail of 22 firms rose by one adviser each, including Centrepoint Alliance, Findex, and Morgans Group.
AUTHOR
Jasmine Siljic
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