The financial year 2026-2027 is off to a strong start for two licensees, who have already attracted over 10 new advisers each, according to Padua Wealth Data. This positive trend comes after a challenging period in the previous year, where the number of advisers dropped below 15,000 due to a significant number of exits. However, the rebound in numbers is encouraging, with 46 licensee owners reporting gains of 39 advisers in just 10 days. This early momentum is a positive sign for the industry, indicating a steady flow of advisers setting up or joining their own AFSLs, a pattern typically seen at the beginning of a new financial year.
The leading licensees are Entireti & Akumin, which has taken on 13 advisers, solidifying its position as Australia's largest licensee with over 1,000 advisers. Centrepoint Alliance follows in second place with 11 new advisers. While larger licensees like WT Financial and Rhombus have also seen gains, some boutique licensees have also made significant strides. Melbourne advice firm George Sabini has taken on seven new advisers, bringing its total to 10, while Sydney-based Sofie Korac/Springboard has added six, reaching a total of 10 advisers. A new licensee, RGHB, has also made a strong start by taking on five new advisers.
This positive trend is further supported by the recent exam results, which had a 71.7% pass rate, leading to 20 new entrants joining the FAR during the week. This is double the volume of new entrants who joined in the week after the March exam results announcement. The consistent pass rate of 71.6% in June is a welcome relief after fluctuating marks in 2025, when the rate dropped as low as 66% in June. With 22,748 candidates having sat the exam and 21,113 (92.8%) having passed, the industry is well-equipped to welcome new talent. The next ASIC advice exam is scheduled for August 2026, with the booking period opening in July.
This positive start to the financial year is a significant development, indicating a healthy and growing industry. The steady flow of new advisers and the consistent pass rate of the exam suggest a positive outlook for the future. However, it is important to note that the industry is still facing challenges, such as the significant number of exits in the previous year. The rebound in numbers is a positive sign, but it remains to be seen whether this trend will continue throughout the year. The success of these licensees and the positive exam results are a promising start, but the industry must continue to adapt and innovate to maintain its growth and success.
