Adviser numbers jump in March quarter: Rainmaker

The March quarter saw a jump in the number of financial advisers in Australia, reaching 15,546, according to Rainmaker Information.

During the three months, 228 advisers joined the industry, according to the latest Rainmaker Financial Adviser report.

During the year to March, 1274 financial advisers registered with a new AFSL. The five AFSLs that attracted the most advisers were Alliance Wealth, InterPrac, Lifespan Financial Planning, Synchron Advice and RI Advice.

On the other hand, AMP Financial Planning, which is now part of Entireti's Akumin, Merit Wealth and Madison Financial Group had the biggest falls in adviser numbers. They each lost 53, 48 and 28 advisers respectively.

Last June, Madison Financial's parent company Clime completed its divestment of the advice group to Infocus Wealth Management. At March end, Infocus was the 10^th largest non-aligned dealer group with 148 advisers.

The top three non-aligned groups were Alliance Wealth with 351, Count Financial with 331 and Lifespan with 289.

Overall, AMPFP is the largest with 857 advisers.

Meanwhile, the fastest-growing groups were Lifespan and Centrepoint Alliance, which each experienced growth of 36% in adviser numbers.

Morgans Financial is the largest provider of superannuation advice with 375 advisers, followed by Ord Minnett's 227, JBWere's 174, and Shaw and Partners' 132.

Aware Super's Aware Financial Services is the biggest among the super funds with an adviser network of 111, followed by UniSuper with 80.

Editor's note: This article was updated on 23 May 2025.