Escala launches ‘Advisory Growth Track’ amid a nationwide talent shortage
Torty Howard
Escala, a leading Australian wealth advisory firm serving high-net-worth individuals, family offices and not-for-profit organisations, has announced a new adviser career framework and client origination incentive (COI), designed to attract, develop and retain talented young advisers.
Launching this month, the Escala Advisory Growth Track introduces a clear, competency-based pathway from entry level roles through to Investment Advisor, alongside enhanced learning and development opportunities, and an established mentorship program.
This comes as the industry more broadly faces several structural challenges, including falling numbers of advisers, gender imbalance, an ageing workforce, and evolving skillset requirements to keep pace with emerging technologies.
Torty Howard, Chief Operating Officer at Escala, said the move also addresses broader concerns around the pipeline of talent entering the advice profession, with the Financial Advice Association Australia (FAAA) citing a 48% reduction in adviser numbers since 20191.
Ms Howard stated, “The advice industry continues to face challenges due to the widening gap in not only retail but also wholesale advice needs. The Escala Advisory Growth Track is intended to nurture our existing talent and bring in new talent. As a business, we focus on wholesale advice in the ultra high net worth and family office space and have a strong history of organic staff growth. Building on this success, it’s now important to introduce a clearer, more structured career pathway and framework, and help fill the advice gap in that space.”
She also underlined Escala’s commitment to promoting female participation in the industry and says that intention with this initiative is to increase clarity and structure to drive awareness of how accessible the pathway is in wholesale investment advice.
“Research shows that women represent as little as 22% of the industry.2 With increasingly defined pathways we aim to drive better representation within Escala and the industry overall, as well as offering a diversity of advisors for clients.”
Belinda Jackson, Head of People & Culture at Escala and Focus Partners Australia said the program is underpinned by the recognition that progression is defined by the accumulation of experience, skills and exposure, rather than a succession of titles, and that careers aren’t always linear.
“Successful careers in advice do not look the same for everyone and we wanted to create a framework that reflects that reality. People can move laterally, build technical expertise, or pursue client facing roles depending on their strengths and ambitions,” said Ms Jackson.
“As a business, we’re investing in the future of financial advice and wealth management. The program we’ve introduced enables employees to take greater ownership of their careers while being supported by the business.”
“We know the industry is facing a decline in advisor numbers, so it’s critical we create clear, attainable pathways for people to build long-term careers, particularly in wholesale advice,” she said.
Ms Jackson believes that for many graduates and early career professionals, one of the biggest barriers is simply understanding how to progress. This framework removes that ambiguity and gives people a structured path forward.
“Additionally, our partnership with Focus US has created an opportunity to leverage leading edge learning and development to support this pathway. Over the past six months we have had two cohorts of Advisors and Associates engaged in a Focus Growth program that is providing meaningful skill development from the best in the industry,” Ms Jackson said.
Client origination incentive
Escala has also introduced a new COI model to reward early career professionals for contributing to business growth, ensuring that team members continue to be appropriately recognised and rewarded
Under the model, team members who play a role in origination are eligible for a share of the associated revenue, aligning incentives with both individual contribution and firm growth.
The initiative is also designed to strengthen Escala’s employee value proposition, with a focus on structured learning, mentoring and on-the-job development, embedded throughout the career pathway.
“So much learning happens through experience, so providing meaningful exposure to clients and real work early on is critical,” said Ms Jackson. “Our role as an employer is to create the environment, support and opportunities that allow people to build confidence and capability over time.”
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