This upward trend underscores a "pricing evolution" within the sector, attributed not only to the growing costs of delivering compliant advice but also to the evolving value proposition as advisers cater to more complex client requirements and offer premium services. Furthermore, funds under advice per client have risen by 11% in 2025, reaching $758,362. The report also highlights a 21% increase in the national average funds under advice per adviser over the past three years.
The data suggest a maturing profession that has reached a stable state following years of upheaval, marked by the ramifications of the Royal Commission, the introduction of professional standards, and the COVID-19 pandemic. The focus has now turned towards high-value clients, prompting practices to develop specialised service models tailored to distinct occupational groups.
This specialisation extends beyond service delivery into areas such as marketing strategies, technology choices, and office design. Practices are now positioning themselves as exclusive professional environments rather than traditional retail financial outlets. The client engagement model, too, has adapted, with the typical adviser serving over 100 clients each year and 55% of advisers opting for annual meetings with clients, signalling a shift towards more efficient service models.
The analysis also reveals a consistent distribution between recurring and one-off clients over recent years, with the ratio hovering around 77% recurring and 23% one-off. This balance suggests that practices have struck a sustainable compromise between maintaining ongoing relationships and delivering transactional advice.
