Despite marginal increases in current client numbers, Australian financial advisers aim to significantly expand their client books by 2025, leveraging technology and operational efficiencies to overcome capacity constraints.
Financial advisers in Australia have modestly increased their average client base but harbour strong ambitions to expand it significantly, according to fresh research led by Colonial First State (CFS). The 2025 Advice Practice Profitability Report, which canvassed 515 advisers and support staff, reveals that advisers currently manage an average of 112 clients, a slight rise from 110 last year. However, nearly all advisers aspire to grow their client books by an impressive 36%, targeting an average of 152 clients each.
This client growth ambition, while notable, is tempered by capacity constraints. The report highlights that 42% of advisers feel they are at full operational capacity, an increase from 35% the previous year. This bottleneck is a key obstacle preventing advisers from expanding their client books further. Inefficiencies in delivering advice, particularly the time-intensive process of producing Statements of Advice, were cited by 27% of respondents as a significant barrier.
Recep Peker, co-author of the report and founder of Empower Business Advisory, said that most advisory firms view streamlining operations and increasing revenue per client as top strategic priorities. “Many see platforms playing an essential role in expanding their operational capacity, and want to partner with those offering robust, consistent processes that give them the confidence to scale sustainably and achieve their growth ambitions,” he explained.
Supporting this, Bryce Quirk, CFS Group Executive Distribution, underscored that platform selection is a critical growth enabler for advisers. With capacity constraints rising, technology platforms are seen as instrumental in boosting operational throughput. More advisory practices are planning technology stack reviews , up from 22% in 2024 to 28% this year , and nearly a third want better system integration to smooth workflows.
This push towards enhanced operational efficiency aligns with broader industry trends. Research from Intelliflo highlights that advisers have more than doubled their weekly client onboarding by 116% year-on-year and intend to digitise 77% of their processes. These technological advancements, particularly in report writing where time savings are most prominent, are seen as vital to handling increasing client volumes while maintaining quality service.
The growth aspirations have wider implications for the Australian financial advice sector. If these targets are realised, the total number of Australians receiving ongoing financial advice could increase by over 650,000 in the next three years, raising the total advised population to approximately 2.4 million. This expansion is accompanied by a dual focus on growing the number of clients served and increasing revenue per client, with 50% and 54% of advisers respectively prioritising these goals.
Beyond client numbers, advisers are also aiming to reinvest operational efficiency gains into refining their business models and enhancing their value propositions, which could improve client outcomes and adviser work-life balance.
Investment in skilled staff correlated with business profitability is another industry insight relevant to this discussion. Data from the 2024 Advice Operations Research Report by VBP, also sponsored by CFS, found that firms paying higher wages and bonuses typically reported better profitability margins and stronger workforce satisfaction and culture scores. This underscores the broader need for advisers not only to expand client bases but also to invest in their teams to sustain growth and elevated service standards.
Despite challenges such as capacity constraints and operational inefficiencies, Australian financial advisers remain optimistic about growth prospects. Industry surveys, including one from Natixis Investment Managers, show advisers targeting an average asset under management growth of 11% over the next three years and planning to add roughly 16 new clients annually. Navigating these ambitions alongside market conditions and the impending Great Wealth Transfer will require ongoing strategic adaptation, technology adoption, and operational improvements.
In summary, while current client numbers have increased only marginally, financial advisers in Australia are poised for significant expansion. Realising this potential depends heavily on overcoming operational barriers through technology and system improvements, investing in skilled personnel, and refining business models to achieve sustainable growth and elevate client service standards.
- https://www.financialstandard.com.au/news/advisers-want-to-boost-client-book-by-36-cfs-179810703 – Please view link – unable to able to access data
- https://www.financialstandard.com.au/news/advisers-want-to-boost-client-book-by-36-cfs-179810703 – A recent survey by Colonial First State (CFS) reveals that financial advisers have increased their average client base from 110 to 112 clients. However, they aim to serve 152 clients, indicating a desire for a 36% growth. The survey also highlights that 42% of advisers feel they are at full capacity, up from 35% last year, and 27% cite inefficiencies in providing advice as a significant barrier to growth. The report underscores the importance of streamlined operations and robust platforms to support advisers in scaling their practices sustainably.
- https://ifamagazine.com/advice-firms-more-than-double-client-onboarding-over-the-past-year-fuelling-desire-to-digitise-vast-majority-of-processes/ – Intelliflo’s 2025 Advice Efficiency Survey indicates that financial advisers have more than doubled their weekly client onboarding, rising by 116% year-on-year. To manage this growth, advisers are seeking to digitise 77% of their processes. The survey also reveals that report writing has seen the most significant time reduction due to technology, highlighting the industry’s push towards digital solutions to enhance efficiency and client service.
- https://www.ifa.com.au/news/35041-advisers-aim-to-serve-650k-more-clients-in-3-years-report – The CFS Advice Practice Profitability Report, commissioned by Colonial First State, reveals that 50% of advisers aim to serve more clients annually, and 54% seek to increase revenue per client over the next three years. With the average adviser managing 110 clients but aspiring to serve 152, this growth could result in over 650,000 additional Australians receiving ongoing financial advice each year, increasing the total to 2.4 million.
- https://www.cfs.com.au/about-us/media/platform-choice-to-help-advisers-serve-six-hundred-fifty-thousand-more-australians – Research commissioned by Colonial First State (CFS) highlights the critical role of technology and platform choice in enabling financial advisers to serve more clients. The CFS Advice Practice Profitability Report indicates that over the next three years, 54% of advisers want to increase revenue per client, and 50% aim to serve more clients annually. Financial advisers currently manage an average of 110 ongoing clients but aspire to serve 152, provided business hurdles are overcome.
- https://www.ifa.com.au/news/34405-higher-paid-staff-leads-to-better-advice-firm-profits-report – VBP’s 2024 Advice Operations Research Report, sponsored by Colonial First State (CFS), reveals a direct correlation between staff compensation and firm profitability. Firms offering competitive salaries and bonuses reported an average earnings before interest and tax (EBIT) margin of 27%, compared to the industry average of 23%. The report also notes higher employee satisfaction and culture scores in these firms, emphasizing the importance of investing in staff to drive business success.
- https://assets.im.natixis.com/en-us/about/newsroom/press-releases/2024/financial-advisors-remain-optimistic-despite-the-impending-great-wealth-transfer – A Natixis Investment Managers survey indicates that over the next three years, financial advisers are targeting an average assets under management (AUM) growth rate of 11% and plan to add an average of 16 new clients per year. Despite challenges like the impending Great Wealth Transfer, advisers remain optimistic and are adapting their strategies to navigate both short-term economic risks and long-term business risks.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative is based on the 2025 Advice Practice Profitability Report by Colonial First State (CFS), which is a recent publication. However, similar findings were reported in November 2024, indicating that the core data has been available for some time. ([ifa.com.au](https://www.ifa.com.au/news/35041-advisers-aim-to-serve-650k-more-clients-in-3-years-report?utm_source=openai)) The report’s release in November 2025 suggests that the content is fresh, but the underlying data may be older.
Quotes check
Score:
7
Notes:
The quotes from Recep Peker and Bryce Quirk are consistent with those found in previous reports from 2024. For instance, a report from November 2024 includes similar statements from these individuals. ([ifa.com.au](https://www.ifa.com.au/news/35041-advisers-aim-to-serve-650k-more-clients-in-3-years-report?utm_source=openai)) This repetition suggests that the quotes may have been reused, potentially affecting the originality of the content.
Source reliability
Score:
9
Notes:
The narrative originates from Colonial First State (CFS), a reputable financial services provider in Australia. CFS has a history of publishing research reports, such as the ‘Empowered Australian Report 2025’ and the ‘Hidden Value Report’ from August 2025. ([cfs.com.au](https://www.cfs.com.au/content/dam/cfs-winged/documents/member/retirement/cfs-empowered-australian-report-2025.pdf?utm_source=openai)) This established presence enhances the credibility of the report.
Plausability check
Score:
8
Notes:
The claims about advisers aiming to increase their client base by 36% align with industry trends and previous reports. For example, a report from June 2024 highlighted that 38% of advisers are focusing on increasing the number of clients they service. ([ifa.com.au](https://www.ifa.com.au/news/34400-advice-businesses-prioritising-profits-report?utm_source=openai)) The narrative’s consistency with these trends supports its plausibility.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
While the narrative is based on a recent report from a reputable source, the core data has been available since November 2024, and some quotes appear to be reused from earlier reports. This raises questions about the freshness and originality of the content. However, the alignment with industry trends and the credibility of the source provide a reasonable basis for the claims made.