Esencia Wealth, one of Australia’s fastest-growing financial advice firms, has revealed the numbers behind a culture strategy built on ownership and internal growth, including a retention record that stands in sharp contrast to the rest of the national workforce.
Central to Esencia Wealth’s recruitment and retention strategy is a commitment to creating long-term opportunities for its people, including extending equity ownership beyond advisers. The number of shareholders in the firm has grown from seven to 30 in the past six months, with around 60 per cent of shareholders now drawn from employees who have built their careers within the business. Shareholders span every part of Esencia Wealth including the executive leadership, advice, client experience, operations and growth functions.
Matthew Fenning, CEO of Esencia Wealth, said: “We’ve always believed that the people helping to build Esencia should have the opportunity to share in its success. As the business grows, we want more of our people to think and act like owners because that’s how great organisations are built. Expanding ownership is about recognising contribution, creating opportunity and giving people a genuine stake in what we’re building together. That’s the kind of firm we’re building at Esencia.”
Retention at the firm is at 96% in the past two-and-a-half years, even as headcount has grown from 16 to 64 people in the same period. By comparison, the average Australian organisation loses around 15% of its workforce each year, based on Australian Human Resources Institute data for the 12 months to June 2025.[1]
Growth built on people
Esencia Wealth’s retention and ownership story sits alongside a period of rapid growth for the firm:
- 175% client growth over two years
- Headcount up from 16 to 64 over the past two years, across advice, operations and support teams
- 26 new hires in the past 18 months, including senior additions such as:
- Chief Financial Officer, Aphrodite Judi
- Partners, Mark Aranj and Rachel Barlow
- Senior Financial Adviser, David Smith
- 11 internal promotions in the past 18 months, within teams across the entire business
- Expansion of the firm’s Advisory Board with the appointment of:
- Peter Maher (former Macquarie Executive)
- Glenn Elliott (CEO, Meldus; Co-Founder & Director, Practifi)
- Fiona Vale (Co-Founder, Humanico)
- Kate Fuller (Managing Director Sydney, Fuller)
Career compass
Esencia Wealth points to Career Compass as a cornerstone of its people strategy. The framework provides pathways for progression, enabling employees to deepen their expertise, broaden their experience, take on greater responsibilities and advance their careers as the firm grows.
Two recent examples illustrate how the framework plays out in practice:
- Jai Won Ri joined Esencia Wealth as Client Engagement Manager and has since progressed to Marketing Manager, extending her remit beyond client engagement to now playing a leading role in executing the firm’s broader growth strategy. Won Ri was also recently named ‘Esencian’ of the Year.
- Tabitha Wedd joined Esencia as Finance Manager and has since been promoted to Financial Controller, also illustrating how employees can build their careers and take on increasingly senior roles as the firm evolves.
Other recent internal moves reflect the same pattern across the business:
- Jeffrey Wrightson’s role expanded, from Managing Partner to Managing Partner & Chief Investment Officer;
- Nina Kazmierczak was promoted from Founder Partner & Senior Financial Adviser to Head of Advice Quality & Risk;
- Three Senior Financial Advisers – Graham Yon, Jane Mitchell and Tyler Ryan – were promoted to Partner & Senior Financial Adviser.
Culture recognised internally and externally
Esencia Wealth measures culture through its internal Motivation & Engagement Index, which the firm describes as “consistently high,” alongside an annual awards program recognising its three pillars of excellence: innovation, client outcomes and a people-first culture. Award recipients include:
- ‘Esencian’ of the Year: Jai Won Ri
- Innovation Award: Samuel Fenning
- Client Experience Award: Vicky Nguyen
- People & Culture Award: Yue Leng
“We believe exceptional client outcomes start with exceptional people. When people build long-term careers, take ownership and grow with the firm, clients benefit from continuity, trust and relationships that strengthen over time. That’s the foundation we’re building Esencia on, as we expand nationally,” Mr Fenning said.