Thousands of Aussie financial advisers fall short of 2026 rules

Over 2,300 advisers or providers risk losing authorisation on 1 January 2026.

The Australian Securities & Investment Commission (ASIC) has issued a warning to financial advisers to ensure they meet all requirements to continue with their advisory activities in 2026.

Over 2,300 financial advisers or providers in Australia are in danger of losing the right to provide advice by 2026 if they do not meet the requirements.

Existing financial advisers who intend to continue providing advice to retail clients about financial products must meet the education and training requirements set by Australian regulators.

Advisers are also reminded to review the accuracy of their information recorded on the Financial Advisers Register, and to ask their AFS licensee or employer to notify ASIC of their qualifications.

If a financial adviser does not meet the qualification before 1 January 2026, their employer is advised to stop authorising them to provide financial advise by the end of 2025.

As of 20 November 2025, about 2,326 financial advisers or providers do not meet the qualification standard to continue their activities, according to ASIC, based on data on the Financial Advisers Register.

Meanwhile, 7,959 of the 15,469 relevant providers on record hold an approved degree or qualification. Meanwhile, 4,212 are relying on the experienced provider pathway, and 972 hold both an approved degree and rely on the experienced provider pathway.

Financial advisers who see their authorisation cease by operation of law on 1 January 2026 will be required to complete a professional year and obtain an approved degree or equivalent qualification before they can advise retail clients again.