Women still account for less than one-quarter of the Australian financial advice profession, having seen no growth in the past 12 months.
Wealth Data analysis demonstrates that just 22 per cent of all financial advisers on the ASIC Financial Advisers Register (FAR) are female, compared to 23 per cent in September 2023.
Breaking this down by business model, financial planning – the largest model with a focus on holistic advice – averages at 22 per cent for female advisers.
Among firms with more than 100 advisers, only two have more than 30 per cent female advisers, Wealth Data found, while five have less than 20 per cent.