Adviser increase the 'strongest' since FY20: Padua WealthData

The number of financial advisers has risen to 15,169, with net gains of six new members this week, according to Padua WealthData's analysis.

In the second straight week of gains, the financial year to date's gain was 286, which is the strongest start to a financial year in the series running back to 2019-2020.

Despite the promising start, the net change over the past 12 months was -260, which is believed to be heavily impacted by the qualifications standard deadline that passed on 1 January 2026, with at least 450 advisers falling off the register.

"The week was broad rather than big, with 23 licensee owners up against 18 down," Padua said.

"A total of 81 advisers were affected by appointments and/or resignations this week, including 12 new entrants to the register."

The increase includes three licensees which grew by three advisers, and four up by two advisers.

On the contrary, WT Financial Group saw five advisers departed this week, with three joining Centrepoint Group's Alliance Wealth, one remaining with Choice Financial Advisors and one departure. The group is now down 22 advisers over the past four weeks.

Overall, 23 licensee owners had net gains, and 18 licensee owners had net losses.

Meanwhile, Padua noted the latest financial adviser exam results attributed to the net increase of advisers.

"Of the 27 advisers who arrived this week, 12 were new entrants, a nice uplift, no doubt attributable to the latest financial adviser exam results...," it said.

Two-hundred-and-twenty candidates sat in the most recent exam in August, up 11 on June, but the pass rate was slightly lower (67.7%) in comparison, with 149 candidates passing.

"The three 2026 sittings have produced 508 passes, while 399 people have recorded a first ever appointment on the register so far this year. The running total of passes now stands at 21,262, around 6100 more than the 15,169 advisers on the register today," Padua said.