Super funds losing advisers ahead of DBFO | Australian Markets

Industry superannuation funds could also be perceived as being amongst the winners from the Delivering Better Financial Outcomes (DBFO) laws, but the quantity of advisers employed by super funds is in decline.

New evaluation from WealthKnowledge reveals that whereas the quantity of advisers becoming a member of holistic advice companies over the previous financial 12 months has been rising fashions, the quantity of advisers working for industry funds has been in declined.

WealthKnowledge principal, Colin Williams stated that that this financial 12 months, business fashions targeted on holistic and investment advice have grown by simply over 2%. In distinction, the Super Fund model, primarily giant industry funds, has misplaced 10 advisers (1.47%).

He stated the Accounting – Limited Advice model (largely offering SMSF advice) has misplaced probably the most at 63 advisers (12.23%).

The evaluation got here as this week emerged as one of probably the most detrimental for actions on the Financial Adviser Register (FAR) to this point this 12 months with a web loss of 1`8 advisrs, the most important loss because the finish of 2024.

Williams stated the loss of 18, together with 9 misplaced final week, has pulled the quantity of advisers on the FAR back under 15,600 to fifteen,598.

Key Adviser Movements For This Period

• Net change of advisers (-18)
• Current quantity of advisers at 15,589
• Net Change Calendar 2025 YTD +111
• Net Change Financial YTD +244
• 24 Licensee Owners had web beneficial properties of 25 advisers
• 28 Licensee Owners had web losses for (-40) advisers
• One new licensees and three ceased
• Five New entrants
• Number of advisers energetic on this period, appointed / resigned: 71.

Growth – Licensee Owners

• A new licensee commenced with two advisers. Both advisers are nonetheless authorised at their authentic licensee which seems to be linked to the broader business.

• 23 licensees homeowners up by plus one together with Sequoia, Findex and Spark Financial Group.

Losses – Licensee Owners

• Macquarie Group down by seven. The majority of the losses seem to carry positions which are help primarily based providers to advisers.
• Count Limited down by three, losing two advisers at GPS Wealth and one adviser every at Merit and Paragem. None of the 4 have been reappointed elsewhere. They gained one adviser at Count who was beforehand Fortnum, owned by Entireti.
• Four licensee homeowners down by two every:
  • Entireti and Akumin Group, losing 4 advisers two from Akumin and one every from Hillross and and Fortnum. Gained two advisers, one at Akumin who got here back after a short break from Charter and one adviser at Charter who was beforehand with First Financial
  • Exelsuper Advice with the licensee now down to zero advisers. Both advisers haven’t been reappointed elsewhere
  • FSSP Financial Services (Aware Super) and each advisers haven’t been appointed elsewhere
  • Merchant Wealth Partners and each haven’t been appointed elsewhere.
• A tail of 22 licensee homeowners down by web one every together with Lifespan, Morgans and Shaw and Partners.