Keith Marshall

AMAFA has formed a strategic investment capability partnership with Human Financial Management Limited (Human Financial) to enhance portfolio construction support, investment governance and adviser resources across the AMAFA network.

The partnership will provide AMAFA advisers with access to portfolio construction frameworks, model portfolio solutions, Investment Committee research and reporting support, market insights and adviser education resources.

AMAFA will retain full responsibility for its Approved Product List (APL), Investment Committee decisions, adviser governance framework and compliance obligations.

AMAFA Managing Director, Keith Marshall said the partnership represents a natural evolution of AMAFA’s commitment to supporting advisers with practical, high-quality investment solutions.

“We have built a strong governance framework over many years, supported by independent research, robust APL processes and technology-driven controls,” he said. “The partnership with Human Financial builds on those foundations by bringing additional portfolio expertise, investment insights and resources to our adviser network.”

Under the partnership, Human Financial will provide support across:

• Investment philosophy and portfolio construction frameworks
• Strategic asset allocation guidance
• Investment Committee support and reporting
• Human Financial model portfolio capability
• Adviser education and investment communication resources
• Market and portfolio commentary

Human Financial Chief Investment Officer, Angus Sippe welcomed the partnership and the opportunity to support AMAFA’s continued growth.

“AMAFA has developed a strong adviser framework with clear governance and adviser-first principles,” he said. “We look forward to working with the AMAFA team to help enhance their investment capability and provide advisers with additional portfolio support and education resources.”

Mr Sippe has more than 20 years’ investment management experience across global multi-asset investing, portfolio construction and institutional investment management. Before joining Human Financial, he was a senior multi-asset portfolio manager at Schroders and a voting member of Schroders’ Global Asset Allocation Committee.

On a day-to-day basis, AMAFA advisers will be supported by Ateeth Rungta, Human Financial’s Head of Distribution, who has more than 25 years’ experience across financial services, adviser support and wealth management.

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The group expects to recruit additional advisers over the course of the year, with several already in the pipeline and progressing through onboarding discussions.

AMAFA will support its newly-appointed advisers across business development, professional standards and peer collaboration, as part of its broader commitment to strengthening the advice profession.

“We look forward to working with them and supporting the continued growth of their businesses, including connecting them with their peers at our annual conference in Hobart this July,” Mr Finocchiaro said.

The AMAFA Annual Conference, The Next Chapter, will bring together AMAFA advisers from across the country and will focus on growing their businesses, challenging their thinking and contributing to the future of the profession.

Advisers new to AMAFA include:

• Daniel Collins Poppyred (VIC and UK): Dan is one of a select group of advisers authorised to provide financial advice in both Australia and the UK, specialising in UK pension consolidation and transfers for British expats living in Australia. He supports clients from offices in Melbourne and Cheltenham, England.
• Nadia O’Sullivan Quest Insurance and Financial solutions (QLD): Bilingual in English and Mandarin, Nadia is dedicated to supporting clients from diverse backgrounds. Having migrated to Australia from Guilin, China, she has a deep understanding of the challenges many migrants face when navigating a new financial landscape.
• Daniel Judge MADD Life (QLD): Daniel is a passionate financial adviser specialising in strategic, goal-driven advice for clients with young families. He develops clear, practical financial plans that give clients direction and confidence in their future.
• Peter Tribolet, Foundation Financial Advice (VIC): Peter has a wealth of experience and a strong commitment to helping clients navigate their financial future with clarity and confidence. He enjoys helping people achieve their specific goals and enhance their financial position so they don’t need to worry about money.
• Reid Menkens, Menkens Financial Group (QLD): Reid has spent 25 years helping clients make sound decisions around their personal and financial objectives. As a small business owner and family man, he understands the challenges people face and enjoys helping clients achieve the results they need.
• Terry Chudleigh, Inteplan Financial Solutions (NSW): Terry has been in the financial services industry for over 30 years, 17 as a financial adviser. He is passionate about financially educating clients in the accumulation phase of life, showing them how to create wealth without compromising their lifestyles.

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Kyle Marshall

Boutique licensee AMAFA has introduced MainstayAI, an AI-enabled advice review tool, designed to help its advisers quickly review their documentation and identify potential gaps.

Advisers can upload key documents, including fact finds, file notes and Statements of Advice, and receive a rapid preliminary review highlighting areas that may require further attention. AMAFA believes MainstayAI is among the first such tools developed by an Australian financial advice licensee.

AMAFA Head of Systems & Governance Kyle Marshall said MainstayAI can help advisers improve both the efficiency and consistency of advice preparation.

“Advisers spend significant time preparing thorough and well-structured documentation for clients,” Mr Marshall said. “MainstayAI helps them identify potential gaps in their files before advice is finalised, providing feedback within minutes. This allows advisers to quickly sense-check their documentation and strengthen it if necessary.”

The introduction of MainstayAI forms part of AMAFA’s broader strategy to invest in technology that improves adviser productivity while maintaining strong professional standards and governance frameworks.

As part of this strategy, AMAFA has also relaunched an enhanced version of its DiscoveryDocs platform, a digital fact find and client engagement tool used across the AMAFA adviser network.

“We originally developed DiscoveryDocs to streamline client onboarding and improve the quality of client data captured during the advice process,” Mr Marshall said. “It has now been upgraded with a more adviser and client-friendly interface and improved functionality.”

The platform enables advisers to securely send web-based fact find forms to clients, monitor completion progress in real time and capture structured client data that integrates directly into AMAFA’s CRM and Statement of Advice document builder.

“By eliminating duplicate data entry and improving the accuracy of client information captured at the outset of the advice process, the platform helps advisers reduce administrative workload while improving documentation quality and consistency,” Mr Marshall said.

Together, the upgraded DiscoveryDocs platform and MainstayAI reflect AMAFA’s focus on building modern advice infrastructure that supports advisers and improves client experience.

“Technology should remove friction from the advice process,” Mr Marshall said. “Our objective is to provide advisers with the infrastructure that allows them to spend more time helping clients and less time managing administrative processes.”

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Keith Marshall

AMAFA has launched the AMAFA Succession Reality Check, a simple business continuity and succession planning self-assessment tool designed to help financial advisers review the resilience and long-term sustainability of their own advice businesses.

While advisers regularly encourage clients to plan for unexpected events and future transitions, it is just as important they apply the same principle to their own practices, according to AMAFA CEO Keith Marshall.

“Many advisers spend a lot of time talking to clients about business continuity, risk management and succession planning,” Mr Marshall says. “But it’s important they also practise what they preach and take a good look at how well their own businesses are prepared for disruption, illness, retirement or an unplanned exit.”

The AMAFA Succession Reality Check provides a simple framework for reviewing current arrangements, identifying gaps and considering next steps across key areas of business continuity and succession planning. AMAFA has made the tool freely available to all advisers, and no personal identifying details are required.

“The Succession Reality Check tool is designed as a starting point and is intended to help advisers look at the operational resilience of their practices and prompt thinking around how they might support continuity of service for clients during periods of change,” Mr Marshall says.

“It offers advisers a quick, no-nonsense way to assess where they stand today and highlight areas they may need to address in order to support their clients, their staff and the value of their own business.”

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Keith Marshall

Licensees who dress exit fees up as professional indemnity (PI) run-off cover fail the transparency test and undermine adviser trust, according to AMAFA managing director Keith Marshall.

“When licensees label what is essentially a commercial recovery fee as run-off cover, it raises questions around honesty and transparency,” he says. “Advisers are expected to be open and upfront with clients, the same principle should apply to licensees.”

Mr Marshall says that in most cases no additional premium is incurred when an adviser leaves a licensee and the PI policy remains active, meaning a run-off cover fee cannot be justified.

“Some licensees defend the practice by claiming their PI premiums don’t fall when an adviser leaves, even though revenue does, but that argument goes around in circles,” he says. “If a licensee replaces the lost revenue when an adviser moves on, as most do, their overall PI exposure remains covered and generally reduces over time. The issue arises when they can’t replace the revenue and therefore feel the premium impact. But that’s a business issue, not an insurance issue, and exiting advisers shouldn’t have to wear it.”

Mr Marshall also notes that PI insurance operates on a claims-made basis, meaning cover applies when a claim is made, not when the advice was given. While AFSLs must maintain cover for current and former representatives, it doesn’t automatically generate new costs when an adviser leaves.

“Where there’s an unresolved complaint or a genuine increase in risk, recovering specific costs such as an excess or additional premium is fair,” he says. “But where an adviser simply transitions elsewhere, calling it run-off cover misrepresents what’s actually happening.”

He adds that it’s unfair to charge advisers for run-off cover because they have no practical way to obtain their own policy. “Getting standalone PI run-off cover is almost impossible for individual financial advisers,” he says.

Mr Marshall says clarity and transparency around exit fees would help promote greater trust across the industry. “If an adviser chooses to leave a licensee, we believe that decision should be respected, and their exit made as smooth as possible. Where any costs are involved, they should be transparent and clearly explained. It’s about being open, fair and proportionate – and doing the right thing by advisers.”

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Jonathan Trapnell

Boutique licensee Australian Mortgage and Financial Advisers (AMAFA) is hosted its first Melbourne-based Peer Group Session last week, bringing its Victorian advisers together face-to-face for collaboration, education and professional exchange.

The session follows the expansion of AMAFA’s on-the-ground presence to Victoria as part of a continued national growth strategy, with Jonathan Trapnell leading as State Manager, Victoria and Tasmania.

AMAFA Managing Director Keith Marshall said the expansion reflects the licensee’s long-term commitment to supporting advisers across key regions.

“We’ve seen growing demand for quality advice and increasing opportunities to partner with advisers across both states,” Mr Marshall said. “Establishing dedicated leadership enables us to enhance our support for our existing advisers in Victoria and Tasmania, strengthen relationships on the ground and accelerate the growth of our adviser network.”

Mr Marshall said Mr Trapnell is highly regarded within the adviser community, bringing professionalism, extensive industry knowledge and strong relationships that align with AMAFA’s culture of integrity, collaboration and practical adviser-focused support.

“Jonathan’s proven track record in adviser support and business development, including his experience at Synchron and Sequoia, made him the natural choice.”

Established in 2013, AMAFA is a boutique Australian Financial Services Licensee (AFSL 389206) headquartered in Brisbane. With its roots in a mortgage broking business founded in 1999, AMAFA supports a growing network of financial advisers across Australia and has built a reputation for personalised support, robust compliance and a collaborative culture that empowers advisers to grow their businesses.

Mr Trapnell said he is delighted to be part of AMAFA at a time when advisers are demanding more from their licensee relationships. “AMAFA’s adviser model is built on accessibility, collaboration and action. Our advisers know they can pick up the phone and talk directly to the Managing Director or decision-makers. There are no ivory towers here. That agility, combined with our focus on fostering a genuine sense of community, is what helps advisers navigate change and grow stronger businesses.”

Mr Trapnell said the Peer Group Sessions provide a space for advisers to share challenges and solutions, to discuss what’s working, what’s not, and how their experiences can help others across the network. “It’s a collegial approach that again reflects AMAFA’s belief in shared learning and a culture of community.”

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