The FAAA noted that 381 new provisional advisers were registered in 2023 and around 511 in 2024, compared with an estimated 700 to 1,000 advisers retiring each year, and cited research indicating strong demand for financial advice among pre‑retirees, younger cohorts, families, small business owners, and regional communities. Jobs and Skills Australia’s Future Skills Organisation Workforce Plan 2025 projects demand for 64,287 “financial investment advisers and managers” in 2025, rising to 69,135 by 2030. Taken together, ASIC’s February 2026 Financial advice update and the workforce data describe a regulatory environment centred on conduct, governance, complaints handling, breach reporting, and outsourcing, at a time when the adviser workforce is smaller and demand for advice on superannuation, retirement income, and risk products continues to grow.
