GI · Authorised Representatives

Profile of the Average GI Broker AR

ASIC Financial Advisers Register · Individual ARs only

SNAPSHOT · JAN 2026 · N=4,417

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Headline · Population01 / 05

Individual Broker ARs

4,417

+ 2,626 CARs

Median Tenure

5.2yrs

active AFS Rep Number

Single-AFSL Loyalty

65.3%

never changed AFSL

Longest Active

23yrs

1 AR still practicing

The “average” AR

Modal profile across four dimensions

NSW 31.4% Works in New South Wales

Metro 68.4% Based in a metro area

5.2 yr MEDIAN Active AFS Rep tenure

1 AFSL 65.3% Ever worked for only one

Geography · Where are they?02 / 05

ARs by state

BY COUNT

Count of individual broker ARs

NSW
1,386

VIC

1,169

QLD

935

410

365

ACT

TAS

ARs per 100,000 pop.

DENSITY

Higher = more competitive market

SA
19.19

VIC

16.52

QLD

16.49

NSW

16.13

13.47

11.35

ACT

10.93

TAS

3.99

Metro vs regional

SPLIT

Where individual broker ARs are based

68.4% METRO · 3,034 31.6% REGIONAL · 1,331

Density — metro vs regional

PER 100K

Regional areas have higher AR density per capita

METRO

50.56

REGIONAL
75.81

AFSL loyalty & tenure03 / 05

How many AFSLs has an AR worked for?

N=4,348

65.3% have only ever worked under one AFSL

1
2,839

819

354

172

How long do ARs stay with an AFSL?

CURRENT STAY

Current stay length distribution, all ARs

<1 YR
1,687

1-2

1,340

2-3

977

3-4

635

4-5

586

5-10

1,425

10-15

565

15-20

246

20+

Tenure key stats

MOVERS VS STAYERS

For those who have moved vs those who haven't

Longest stay with one AFSL 22.6 YRS

Average stay for movers 4.5 YRS

Changed AFSL at least once 34.7%

Most AFSLs by one person 12

Record holders04 / 05

23 yr

AFS REP #

Longest active AFS Rep Number One currently practicing AR has held an active registration for over 23 years — predating the FSR Act commencement in 2004.

AFSLS

Most AFSLs by a single AR One person has moved across 12 different licensees. For context: 2,839 ARs have only ever worked under one.

22.6 yr

SAME AFSL

Longest stay with one AFSL The most loyal AR has stayed with the same licensee for over two decades without switching once.

3.99

PER 100K · TAS

Tasmania: most underserved state Only ~4 ARs per 100,000 population — roughly 4× fewer than the national average. Opportunity signal for licensees looking to expand.

Source & method05 / 05

Dataset

ASIC Financial Advisers Register · ABS Population Data (ERP, Jun 2024). Individual ARs with General Insurance authorisation. Corporate ARs excluded.

Cut

Snapshot taken January 2026. Tenure measured from first active AFS Rep Number. "Metro" per ABS remoteness classification.