Specialist expertise becomes essential as financial advice grows more complex, poll finds

Brett Arnol

Key points

• 93% of advisers found that the skill set required for financial advice has become more complex over the past five years.
• 79% of advisers say access to specialists is crucial for providing quality advice.
• 72% regularly work with other financial advice specialists in tax, aged care, and estate planning.
• 88% report increased use of SMAs to meet growing client needs as advice becomes more complex.
• 86% of advisers are seeing heightened client awareness around data security, driven by increasingly strict regulations.

A recent Adviser Sentiment Poll conducted by Viridian Advisory has revealed that the growing complexity of financial advice is driving an increasing demand for specialist expertise. The poll, which surveyed over 50 financial advisers highlighted that 79% of respondents believe it is critical to have access to financial advice specialists in areas such as tax, estate planning, and aged care to provide comprehensive, holistic and high-quality advice.

Brett Arnol, Co-Founder and General Manager of Advice at Viridian, said, “These days, access to specialists isn’t a nice-to-have—it’s an absolute must. Clients face increasingly complex financial challenges, from tax and estate planning to navigating divorce and aged care. No single adviser can be an expert in all these areas, which is why having a network of specialists is essential. It’s about making sure clients get the right advice from the right people, tailored to their unique situation, and no single adviser can deliver that alone.”

The survey also revealed that 72% of advisers frequently collaborate with other advice specialists when developing financial strategies for their clients, reflecting the growing reliance on external expertise to address a wide range of financial needs. The complexity of financial advice continues to increase, with 93% of respondents indicating that the skill set required for financial advice has become significantly more complex over the past five years.

Viridian’s network of specialists covers a broad range of areas essential to clients’ financial well-being, including investment planning, wealth protection, debt management, and superannuation. Advisers also offer expertise in more niche areas such as aged care advice, UK pension transfers, and SMSF structures. This depth of specialist support ensures that clients receive comprehensive advice that adapts to their changing needs throughout their financial journey.

Additionally, with the recent acquisition of Smartmove, Viridian Advisory has extended its specialist advice to include finance solutions. Smartmove provides tailored lending advice through a panel of over 30 lenders, offering services such as home loans, investment property financing, refinancing, SMSF loans, and commercial lending.

Brett Arnol added, “At Viridian, our team-based model ensures every client is backed by a primary adviser and a network of specialists across Australia. This approach allows us to deliver expert, tailored advice that adapts to each client’s changing needs.”

In response to these challenges, 88% of advisers have reported increased use of Separately Managed Accounts (SMAs) to meet evolving client needs, further underscoring the demand for tailored and diversified strategies.

Cybersecurity identified as key concern for 2025

As the demand for more tailored client solutions grows, cybersecurity has also emerged as a critical priority for financial advisers. The Adviser Sentiment Poll revealed that 86% of advisers are seeing heightened client awareness around data security, driven by increasingly strict regulations.

Raamy Shahien, Joint Chief Executive Officer at Viridian Financial Group, highlighted the importance of protecting client information in today’s landscape.

“With evolving technologies and tighter regulations, data protection has become non-negotiable,” said Shahien.

Viridian’s ISO certification sets a high benchmark for the industry, ensuring rigorous standards in data management.

“Being ISO certified demonstrates our commitment to safeguarding client information, offering a level of trust and security that should be the standard for others in the industry,” Shahien added.