Two Licences, One Week Sample
What the register shows
5 FINDINGS- Sphere Insurance Group unwound in a single day. In the register since November 2015, Sphere peaked at 109 authorised reps in August 2024 and was down to 76 by the time it stopped. On 2 June, 31 of those reps ceased at once; the other 45 are still attached to a licence in liquidation.
- A dormant licence refilled the next morning. On 3 June, 24 reps were appointed to Regis Licensing (AFSL 338156) — 22 of them straight from Sphere. Regis had carried about 6 reps since its former discretionary-mutual operation emptied in 2023 (126 cessations that year), with no broker appointments in two and a half years.
- The re-launch was prepared months earlier. On 11 March 2026 — three months before the liquidation — Regis Licensing registered two new business names with the ABR: "Regis Broker Network" and "Regis Broker Partners".
- Update — 48 of the 76 reps in play now have a new registered home. At the original 10 June cut it was 34, with 42 unaccounted for; the register refresh current to 1 July resolved another 14 as new appointments landed. Of the rest, 21 remain only on the Sphere licence as it's wound up, and 7 no longer appear anywhere on the register.
- The first cracks showed 18 months early — then things went quiet. From October 2024 Sphere shed brokers in waves: 13 that month (11 to Metrix Connect in a single day), 12 in March 2025, 13 in April 2025 — 21 individuals to Metrix over the period. Then the book seemed to stabilise, holding at 72–78 reps from October 2025 right up to the collapse.
Destinations at the 1 July refresh
76 REPS IN PLAY- Regis Licensing (AFSL 338156) — 22. All appointed on 3 June, the day after Sphere's mass cessation.
- Metrix Connect — 10. Up from 8 at the 10 June cut, extending a flow that's been running since October 2024.
- All Risk Protection — 4. Up from 2 at the 10 June cut.
- NeedCover Group, SureInsure Insurance Advisors, SIB and Sirius Insurance – Broker Network — a handful each. The remaining 12 of the 48, spread across the four licensees.
- Still only on the Sphere licence as it's wound up — 21. Some may yet resolve into moves as later extracts capture new appointments — we'll re-run the matching with each ASIC refresh.
- No longer appear anywhere on the register — 7.
Source: ASIC AFS Representative Register (data.gov.au), extracts current to 10 June and 1 July 2026, plus the Australian Business Register. Population is ARs + CARs at GI-broker AFSLs. People are matched across rep records by name + ABN to stay robust to ASIC term-change reissues; ABN is only ~30% populated, so common names can be conflated. Counts are point-in-time at the register cut: at the 10 June extract, six reps showed as appointed at both Sphere and Regis because their Sphere cessations had not yet been processed — double-counting that inflates both licences until ASIC catches up. Tenure figures are time on the AR register, not broking experience. Move matching is inferred (name, ±90-day window, ABN where available), so recent departures may turn out to be moves once later extracts capture the new appointments. Originally published from the 10 June extract; the findings and destination card were updated with the register refresh current to 1 July 2026. The charts show the position at the 10 June cut.
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The full service tracks any AFSL the way this page tracks Sphere and Regis: monthly joiner/leaver flows shaded by tenure, full headcount history, destination matching by name, and a heads-up when a book starts moving — before it reaches the trade press. Refreshed with every ASIC register release.