Exam Passes Spur Surge in New Financial Advisers
Stronger exam results have driven a noticeable rise in new entrant growth this year, with 399 advisers joining the register so far in 2026.
More entrants are expected after the latest results were released last week, providing a bump to adviser numbers.
Exam results boost new entrant numbers
The August ASIC exam released last week showed 149 of 220 attendees passed, prompting an influx of candidates into the Financial Adviser Exam (FAR) in the weeks that follow.
Across the first three exam periods of 2026—March, June and August—508 candidates succeeded, edging above the 486 passes recorded in the same span of 2025.
When looking at fresh entrants, the trend reverses: the first three quarters of 2025 saw 465 new advisers, while 2026 has logged 399 in the comparable period.
These newcomers have helped offset the outflow of seasoned advisers, contributing to a net gain of 113 advisers on the FAR YTD and a 286 net increase in the broader financial adviser pool, bringing total advisers to 15,169 after a weekly rise of six.
Weekly adviser movements
In the week ending 24 September, two licences commenced, three ceased, and 81 advisers were active in appointments or resignations.
These movements are tracked by Padua Wealth Data, which compiles weekly licence activity to give a granular view of market fluidity.
The licence that added the most advisers that week was a newcomer that started with four advisers.
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Other firms saw modest gains: Evans Dixon added three new entrants; Flow Financial Holdings attracted three advisers from Simmon’s Moore’s Index Tracking Financial Advice; Solomons Wealth Management Australia gained two, including one returning after a break.
Similarly, Lifespan welcomed two advisers from Entireti & Akumin Group, while FSSSP Financial Services added two returning advisers from Bluewater Financial Advisors and MUFG Retire360.
Continuing the trend, Merchant Wealth Partners secured a new entrant and an adviser from Skye Money for a net gain of two, and EBSPH captured one new entrant and one adviser from Bombora Advice.
A group of fifteen licences each recorded a net increase of one adviser, including Entireti & Akumin Group, Ord Minnett, Canaccord Group and Fiducian Financial Group.
Licensee gains and losses
On the loss side, WT Financial Group shed five advisers this week, three to Centrepoint, one to Choice Financial Advisors and one departing, adding to a total loss of 22 over the past four weeks.
Consolidation moves persisted as Invest Blue reported a net loss of three advisers to Entireti & Akumin Group’s LFC Group licence, part of a strategy to bring all Ironbark advisers under a single licence.
Picture Wealth Group recorded a net loss of two advisers from its Insights Investment Services and Capstone Financial Planning firms, while Morgan Stanley Wealth Management also lost two long-tenured advisers.
Shaw and Partners experienced a net loss of two advisers, one of whom had served the firm for over 22 years.
A further thirteen licences each saw a net decline of one adviser, among them Count Limited, Rhombus Enterprises, Euroz Hartleys and MIQ Holdings.
