Fewer, clearer decisions: Hamilton Wealth takes the OCIO route
An idea that started with a conversation in New York has led to Hamilton Wealth Partners opt for an outsourced chief investment officer (OCIO) arrangement. The firm’s founder and chief executive, Will Hamilton, says he believes the payoff will be in better returns, improved client experience and increased advice capacity within the business.
Why advisers are ditching big firms for more personalised client service
Shaw and Partners has grown from 100 advisers and $4 billion under management in 2015 to more than 200 advisers and more than $50 billion today. Head of private wealth Chris Smith explains why advisers are leaving bigger firms and what’s driving demand for broader wealth advice.
Industry tensions over who will lead on cyber governance standards
The Financial Services Council has criticised the Association of Superannuation Funds of Australia for engaging in anti-competitive behaviour for applying to the country’s consumer watchdog for an exemption to negotiate with third-party vendors on behalf of all super funds. The government has deferred to the associations to work together on creating a standard, but the dispute raises questions over whether the industry can self-regulate.
Claude for advisers has regulators and competitors on alert
ASIC says it is closely monitoring developments such as the new Claude for financial advisers’ plugin – launched this week – and its potential implications for the Australian market. Incumbent tech vendors are also watching.
Something’s wrong when the biggest bill lands with the smallest players
Advice networks are the least “valuable” links in the wealth management chain, yet when something goes wrong they’re too often left to carry the can, even when a failure is not their fault. Unless this flaw is addressed, we will still be here in five years’ time talking about the same thing: all that will have changed is the names of the players involved.
Class action against Macquarie echoes soon-to-be-eliminated ‘but for’ determinations
A class action against Macquarie Investment Management over its role in the collapse of the Shield master fund claims it should compensate investors for investment returns they missed out on by not being invested somewhere else. It echoes the controversial “but for” determinations made by AFCA, which from June next year will be eliminated.
Parliament should review travel restraint laws in major financial misconduct cases
As the travel restraint of First Guardian CIO Simon Selimaj has been lifted, Shield and First Guardian investor advocate Melinda Kee writes that confidence in the system is lost long before a court delivers its verdict.
Industry
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Adviser numbers to settle at 14.8k by 2030: Wealth Data
Adviser researcher Padua Wealth Data expects the number of advisers in Australia to reach 14,796 by 2030. Current adviser numbers have stabilised around the 15,000 mark after the fallout from the Hayne royal commission and the introduction of professional standards saw five-figure departures from the industry.
What Australian advisers can learn from their UK counterparts about AI and client relationships
A Netwealth report following a recent study tour of UK advice firms shows a promising industry where AI is complementary to human qualities such as empathy, curiosity and communication, rather than a replacement.
Nasdaq leadership enters its next phase
AI-led earnings growth and a historic investment cycle continue to place the Nasdaq’s largest companies at the centre of global equity markets. But for advisers, the question is increasingly not whether to participate in the theme, but how much concentration is appropriate – and where the next phase of returns may come from.
Researcher Forum
Advice Policy Summit
This event is open to CEOs and senior leaders of financial planning licensees, dealer groups and boutique advice firms, along with C-suite executives in superannuation funds with oversight of advice, education and guidance.
Akumin wants to support ambitious quality firms
Akumin has welcomed firms with as few as two advisers to more than 100 in 2026, CEO Matt Lawler tells Professional Planner that the licensee’s growth strategy is focused on the ambitions and quality of potential target firms, not their size.
Shadforth is buying businesses, not books
Not even a year on from its acquisition of Melbourne-based financial advice firm PMD Financial Advisers, Shadforth is still looking for M&A opportunities but strictly to add like-minded advisers, rather than just client books. CEO Terry Dillon tells Professional Planner what those ideal businesses looks like.
How pro-bono work helped adviser Nicola Beswick create new firm
Lawyer turned financial adviser Nicola Beswick recently launched her own financial firm White Rabbit Advisory. Through her experience on the board of the Pro Bono Financial Advice Network, she learned valuable lessons which helped her navigate the challenges of setting up her own business.
Investment