The number of financial advisers in Australia has been declining for the past few years, and the latest data from the Australian Securities and Investments Commission (ASIC) shows that the trend is largely continuing.
As of March 2025, there were 15,558 ASIC-registered financial advisers in Australia, up from 15,482 at the start of the year. This represents a net gain of 76 financial advisers over the year to date, or a increase of <1%.
The latest data on the number of financial advisers is available in an interactive visual below.
The long-term decline in the number of financial advisers is being driven by a number of factors, including:
- The increasing complexity of the financial advice industry. Financial advisers are required to have a high level of knowledge and expertise in order to provide their clients with sound financial advice. This complexity has increased in recent years, due to changes in legislation and regulation, as well as the introduction of new financial products and services.
- The increasing cost of compliance. Financial advisers are subject to a number of compliance requirements, which can be costly to meet. This is particularly challenging for small financial advice businesses.
- The aging demographic of financial advisers. The average age of a financial adviser in Australia is over 50. This means that a significant number of financial advisers are approaching retirement age.
The decline in the number of financial advisers is a concern for the Australian financial services industry. Financial advice can play an important role in helping people to achieve their financial goals, and it is important that there is a sufficient number of qualified financial advisers to meet the needs of the community.
Data sourced and adapted from ASIC's Financial Advisers Register, licensed under the Creative Commons Attribution 3.0 Australia Licence.
