index has elevated 37 Australian and four New Zealand advisors from its 2,500-strong workforce into Senior Partner, Partner and Associate Partner roles. Notably, 60 per cent of appointees are based in regional centres, underscoring Findex’s ongoing commitment to investing in local talent and delivering premium, locally informed advice across metro and regional markets.

Findex Co-CEO Tony Roussos said the appointments reflect both the strength of the firm’s regional talent pipeline and its long-term strategy to build capability from within.

“We are pleased to welcome our newest Partners, whose outstanding expertise, local insights and commitment to client success remain central to our growth strategy.”

“These appointments demonstrate the depth and diversity of talent we are cultivating across the business. As we continue to expand our footprint across the ANZ region, we remain focused on developing future leaders who serve both the professionalism of our industry and the needs of the communities in which they live and work.”

“Our scale, with more than 90 offices across Australia and New Zealand, allows us to combine deep local knowledge with national capability. Our clients, wherever they are located, benefit from tailored advice backed by the expertise and resources of a trans-Tasman organisation.”

The breadth of this year’s cohort is representative of Findex’s scale and the diversity of its advisory offering. With appointments across 24 locations and a majority based outside capital cities, the cohort embodies Findex’s vison to provide its 250,000 clients with trusted, locally delivered advice backed by national infrastructure, regardless of geography.
The appointments also highlight Findex’s commitment to fostering regional careers and enabling internal mobility. Many of the newly appointed Partners have built their careers within regional communities, supported by dynamic working models which have long-supported hybrid working arrangements and development pathways that allow professionals to access career growth opportunities without the traditional relocation to major metropolitan centres.

This is embodied by the careers of Partner Gabby Howlett, who has spent over fifteen years building her practice in Ballarat, and Dubbo-based Partner Deb Ball who brings nine years of local expertise.  Associate Partner Amir Mousa’s appointment in Albury further strengthens Findex’s presence across regional Victoria and New South Wales.

Findex’s investment in talent development is complemented by a culture that encourages mobility and diverse career pathways. Associate Partner Tafadzwa Mudarikwa brings more than 15 years of international experience across Africa, the Middle East, the United States and Australia, with expertise spanning high-growth businesses and listed multinationals. His work across Brisbane and Toowoomba reflects Findex’s ability to combine global expertise with strong regional delivery.
Similarly, Associate Partner Jenna Anderson’s move from Canada to Queenstown demonstrates Findex’s ability to attract and retain talent through its flexible, mobility-friendly culture. Her appointment strengthens the firm’s presence in one of New Zealand’s fastest-growing regional centres while bringing an international perspective to advisory work for local clients.

Findex’s continued investment in local expertise and long-term client relationships remains at the heart of its advisory model. This year’s recognition of talent reinforces Findex’s commitment to ensuring regional communities and clients benefit from high-quality, locally delivered advice, supported by national scale and capability.

As Findex continues to grow, this partner cohort is a result of a deliberate strategy to build leadership from within, empower regional talent and deliver meaningful impact across the diverse communities it serves.

The 2026 Senior Partner cohort includes:

• Simon McGuirk, Melbourne VIC, Wealth Management
• Daniel Ellis, Perth WA, Business Advisory
• Nick Park, Sydney NSW, Business Advisory
• Robert Carius, Brisbane QLD, Business Advisory
• Neil McLennan, Brisbane QLD, Business Advisory

The 2026 Partner cohort includes:

• Gabby Howlett, Ballarat VIC, Business Advisory
• Tafadzwa Mudarikwa, Brisbane QLD, External Audit
• Mark Jackson, Colac VIC, Business Advisory
• Deb Ball, Dubbo NSW, Wealth Management
• Luke Thornton, Geelong VIC, Business Advisory
• Rachel Fraser, Richmond NZ, Business Advisory
• Andrew Reid, Melbourne VIC, External Audit
• Philip Rofe, Sydney NSW, Wealth Management
• Heather Logue, Brisbane QLD, Wealth Management
• Perry Crockett, Wanaka NZ, Business Advisory
• Jia Tan, Sydney NSW, External Audit
• Simon Warner, Adelaide SA, Business Advisory
• Toby Oakley, Adelaide SA, Business Advisory

The 2026 Associate Partner cohort includes:

• Amir Mousa, Albury NSW, Internal Audit & Risk
• Chris Van Den Bery, Bathurst NSW, Wealth Management
• Peter Christopherson, Brisbane QLD, Wealth Management
• Staci Sturzaker, Devonport TAS, Wealth Management
• Anna Johnston, Dubbo NSW, Business Advisory
• Lachlan Wilson, Geelong VIC, Business Advisory
• Adrian Trinchera, Geelong VIC, Wealth Management
• Matt Edmondson, Hastings NZ, Business Advisory
• Raj Pradhan, Mildura VIC, Wealth Management
• Jessica Maffescioni, Stawell VIC, Business Advisory
• Tamim Marial, Sydney NSW, Wealth Management
• Joshua Snell, Toowoomba, Wealth Management
• Neil Sparks, Adelaide SA, SMSF Advisory
• James Wallace, Armidale NSW, Wealth Management
• Ian Krarup, Gympie QLD, Business Advisory
• Patrick Duffy, Orange NSW, Wealth Management
• Joanne Mizzi, Sydney NSW, Wealth Management
• Matthew Fish, Brisbane QLD, Business Advisory
• William Kyriakou, Bunyip VIC, Business Advisory
• Craig Warren, Cairns QLD, Business Advisory
• Michelle Hickey, Colac VIC, Business Advisory
• Andrea Sproal, Melbourne VIC, Business Advisory
• Jenna Anderson, Queenstown NZ, Business Advisory

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Building on Findex’s proven track record in the M&A space, Brent will lead a dedicated team focused on scaling the M&A program. His remit will encompass identifying and acquiring strategically aligned accounting, business advisory and wealth management firms to further strengthen Findex’s ability to provide best-in-class service to its growing customer base of Aussies and Kiwis and the businesses they run.

On the appointment, Findex Co-CEO Matt Games says, “We are thrilled to welcome Brent to the Findex leadership team, having worked closely with him over the last few years in his capacity as Non-Executive Director of the Findex Board. Brent has a deep knowledge of what drives success at Findex, and this is another step forward in our partnership with Mercury Capital.”

“The creation of a dedicated leadership role to spearhead our M&A program clearly signals and reinforces to the market our ambitions for accelerated growth, and we are proactively looking to acquire the right kind of businesses and talent to be part of Findex’s future.”

“Brent has a strong track record for identifying these potential partners and his deep experience in strategy and M&A, makes him the ideal person to lead Findex into our next phase of expansion which is underpinned by our commitment to delivering exceptional value and industry leading advice to our nearly 250,000 clients and partners across ANZ.”

With almost 15 years of experience across private equity, corporate strategy, investment banking and nurturing operational success in high-growth environments, which included working as Chief Strategy Officer for MessageMedia in Mercury Capital’s $1.7bn exit to Sinch in 2021. Brent brings a unique and in-depth understanding of Findex from his role on the Findex Board and at Mercury Capital which acquired a 40% stake of Findex from KKR last year. In this role, he will apply a global outlook to drive value creation for Australian and New Zealand SMEs.

“It’s a privilege to join Findex at such an exciting time. My connection with Mercury Capital allows me the unique viewpoint of diligence and a strong insight into what the board needs, while also having a rich knowledge of how Findex operates. This doesn’t feel like a new job—it feels like working with people I know and trust, towards ambitions we’re all collectively passionate about,” says Brent.

“My goal is to make Findex a household name and trusted financial services partner for individuals and SMEs. Australian and Kiwi business owners recognise a need for an integrated business and personal wealth management model to ensure financial resilience amidst a challenging economic backdrop alongside the ability and option to scale – and this is what Findex offers,”

“Through our M&A program, we want to bring onboard like-minded businesses who can truly partner with Aussie and Kiwi SMEs across metro and regional areas and are committed to working with clients throughout their entire financial life cycle.”

He describes his new team as operating like a special services force. Their task – to partner with the accounting and wealth firms who are already working with local businesses and giving them the competitive edge of equipping them with access to Findex’s digital workflows, the 2,700-strong team of experts, and ultimately help them unlock new opportunities through technology and innovation.

Within this, he sees a critical role for AI to reshape the future of professional services. Brent notes that AI can be transformative, freeing up teams to focus on high-value, advisory work and relationship building, while ensuring compliance is handled efficiently. Findex remains uniquely positioned to help SMEs navigate this change, as its scale and resources allow it to invest in cutting-edge solutions that smaller firms can’t access on their own.

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Julian Maloney

Agtuary, a leader in Agribusiness Land Analysis and Environment services, and Findex, one of Australasia’s largest privately-owned providers of integrated financial advisory and accounting services, proudly announce a strategic partnership aimed at delivering cutting-edge advisory carbon accounting services to the farming and agribusiness community. This collaboration marks a significant leap forward in empowering agricultural enterprises to measure, report, and mitigate their environmental footprint effectively.

The partnership provides Findex with the ability to advise clients on their emissions and environmental impact while providing emissions and environmental accounting that is aligned with the National Greenhouse Gas Inventory, Task Force on Nature Related Disclosures, Deforestation, and other frameworks and measures vital for maintaining export and financial compliance.

“Our teams, especially those located in regional Australia, have experienced an uptick in recent years of clients asking for expert guidance to better manage their business’ carbon emissions,” says Findex Chief Operations Officer Julian Maloney.

“The partnership with Agtuary addresses this demand and presents an exciting opportunity to further enhance our offering to the agricultural industry. As primary producers navigate the complexities of emissions reduction, Agtuary’s platform will equip Findex with the necessary tools to measure, report and provide actionable insights for clients who are committed to their sustainability journey.”

Agtuary’s Agribusiness Land Analysis and Environment services are available to farmers across all of the industry including livestock, cropping, horticulture, fisheries and forestry. Agtuary’s AI-driven platform helps farmers to uncover the risks and see the opportunities in managing climate change, nature related risks and sustainability across supply chains, ecosystems and economies by combining carbon calculation capabilities with workflows, environmental data and analytics. This is especially crucial for today’s farming community as they navigate the increasing demand from their customers and financial institutions and regulators to report on their emission intensive activities.

Agtuary will provide training and expertise to the Findex team to assist their client base on the use of the carbon and environmental accounting platform with the services expected to kick off by the end of the month.

With over 20,000 of Findex’s clients across Australia and New Zealand operating within the agriculture industry, the upskilling of the team greatly enhances Findex’s client servicing capabilities.

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Findex has appointed 24 new Partners and Associate Partners in Australia and a total of 34 across Australia and New Zealand. Of the new appointments, Findex observed an even 50/50 gender split with 63% of Australian appointments made in regional locations, bolstering its commitment and on the ground support for regional clients.

The newly promoted Partners and Associate Partners will bring their in-depth knowledge and wealth of experience to the Business Advisory, Wealth, Tax Advisory and Audit sectors within Findex. Growth in talent within the sectors has increased steadily from last year, particularly within the Business Advisory sector in New Zealand seeing a growth of 8%.

“As a major employer across Australia and New Zealand, we’re excited to see continued growth in our regional areas across the key sectors within the business. It highlights the continued investment into emerging leaders that we’re making in these areas that make up the backbone of both nations. Pleasingly we also announce an even split of female and male partners, reinforcing our commitment to our gender equity plan,” says Findex Co-CEO Mathew Games.

“After another successful financial year, it is encouraging that my contributions to Findex and our client base in New Zealand was acknowledged and recognised. The continued support from the local team as well as the wider business has enabled me to consistently provide the best-in-class service to our clients,” says recently promoted Alex Paul, Associate Partner, of Findex New Zealand.

“With Findex’s extensive regional footprint, the appointment of several from our team to the position of Associate Partner in the Albury office is testament to the team’s commitment to our community. We are proud of what we do – partnering alongside locals and their businesses, to help them in every stage of their financial journey,” says recently promoted Tom Rowan Associate Partner, of Findex Albury.

The new Partners and Associate Partners have formally commenced their roles effective July 1 2023.

Findex currently employs 3,000+ staff across Australia and New Zealand, servicing a client base of over 250,000+ clients, with over $17bn funds under advice. A Findex spokesperson says these recent appointments lay the foundations for a stronger more united support system across all of Australia.

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Matt Games

Despite the compulsory superannuation guarantee being over 30 years old in Australia, a worrying majority of Australians (2 in 3) fear they will not have sufficient financial resources to retire, reveals new research from Findex Group Limited (“Findex”).   

The research from YouGov commissioned by Findex, one of Australasia’s largest privately-owned providers of integrated financial advisory and accounting services, explored Australians’ preparedness for retirement and how professional financial advice factors into this. The survey of over 1,000 participants focused on those in the early planning stages of retirement to those in the process of retiring^[1] across metro and regional areas.    

The older, the more unprepared 

Set against uncertain economic environments and frequent interest rate hikes, Findex’s findings showed the closer Aussies were to retirement, the less confident they were about having the funds required. The majority (52%) of Baby Boomers and 38% of Gen X noted they were ‘not confident’ of having the money needed to retire compared to 31% of Millennials.  

“This paints the picture that most Aussies have adopted a ‘kick it down the road’ mentality to retirement. But when the time eventually comes, they’re faced with the reality that their existing savings and superannuation balance are insufficient in this economic climate,” says Findex Co-CEO Matt Games. 

According to the Association of Superannuation Funds of Australia Retirement Standard^[2] a retiree today needs upwards of AUD$500,000 in their super balance. This sits well above the national average of AUD$356,000 and $288,000 respectively for men and women in their early 60s.   

Pairing with this, Findex’s research also revealed one in two Australians don’t believe they have a good understanding of the financial resources needed for a comfortable retirement. Gender disparity was additionally apparent in financial literacy where women were more likely to report their financial understanding as ‘poor’ (27%) compared to their male counterparts (15%). 

Never too late for professional advice 

In terms of seeking professional advice to prepare for retirement, while 80% believe professional financial advice could benefit them in retirement only 30% had sought advice, with women (24%) less likely than men (37%) to have received professional advice. Furthermore, the closer respondents were to retirement age, the less likely they were to consider professional advice (‘unlikely to get professional advice’: 49% Baby Boomers, 34% Gen X, 22% Millennials).  

“The time to access advice is now – especially when many are currently struggling to manage their finances. What our financial modelling shows** is it’s never too late for someone to benefit from advice even if you’re less than ten years away from retirement and this holds true for people at most income levels,” says Games. 

“Seeking professional financial advice should be viewed as good life hygiene like scheduling a dental check-up with a qualified dentist. And with the cost of living continuing to increase and Australians living longer, the reality for most people – particularly women – is not doing anything today will actually cost you. Most Aussies simply won’t have the funds they need to live a comfortable retirement if they don’t take a proactive approach to secure their financial future.”  

But what is stopping Aussies from getting advice? 

The main misconception uncovered in the research centred around the common perception that the cost of financial advice was too expensive and outweighed the potential returns. Of the barriers stopping Aussies from getting advice, 34% cited the cost of advice, 32% don’t feel they earn enough to make it worthwhile and 19% said procrastination.  

“It’s very common for us in the industry to hear that cost for advice is the issue. But at Findex, we want to dispel this,” says Findex Head of Investment Relations Matthew Swieconek. 

“A financial adviser doesn’t only provide guidance on investment strategies that align with your goals and risk tolerance. They provide behavioural coaching, asset allocation research and management and tax savvy planning – areas that DIY investors can often overlook and can add enormous value to wealth creation over time. Quantifying this, our projections demonstrate the value of advice where Aussies stand to gain 8% to 29% in benefits depending on the age they start.”  

While there is clear appetite and need for advice, to help Aussies unlock their full financial potential Findex is addressing the concerns around cost and value head on through offering tailored

pricing structures, transparency and consistently demonstrating value – all of which is underpinned by acting in the best interest of the client. 

Modelling projections:

For a Baby Boomer:  

A 57-year-old earning 150,000 per annum with a 58-year-old partner who earns the same. He/she has a super balance of $286,000 and the partner, a super balance of $210,000 (taken from the BT average super for a 55-59-year-old). If the client begins receiving financial advice today, Findex’s financial modelling shows that the client could stand to increase his/her combined net assets by 8% or just under $148,000 with financial advice by the time he/she reaches 65 years of age – and that’s in under ten years.    

For a Gen X: 

A 49-year-old male, part of a couple, and has a super balance of $215,000. Between now and the age of 65, he could potentially grow his net assets by 13% or just shy of $240,000 with financial advice.    

For a Millennial:  

o   Aged 35 with an income of $100,000 per annum and has a super balance of $50,000. Findex’s financial modelling illustrates that if you receive financial advice from the age of 35 you may reach age 65 with approximately 29% more in net financial assets ($664,000) than had you not sought any financial advice.   

Additional research findings

• Younger Australians 35 to 44 years are more likely than their older counterparts 55 to 65 years to believe they have a very good understanding of what financial resources they would need for a comfortable retirement (20% compared to 14%)
• Those who have sought professional financial advice to help plan for retirement are almost three times as likely to say they have a good understanding of what financial resources they will need to retire (32% compared to 12%)
• The most commonly identified benefits from obtaining professional financial advice, include making the most of their superannuation (44%), learning about the options that are available to use in retirement (40%), understanding how much is needed to retire (39%)
• Among Aussies who have not sought professional financial advice for retirement, a third say they are likely to consider doing so in the future while a similar proportion (34%) say they are unlikely to do so
• Concerningly, Aussies who have not sought professional financial advice and who rate their own understanding of what resources are needed for a comfortable retirement as poor are much less likely than their counterparts who rate their understanding as good to say they are likely to consider doing so in future (23% compared to 46%) 

 ——–

[1] Survey focussed on over 1,000 respondents aged between 35 to 65 years 
[2] https://www.superannuation.asn.au/ArticleDocuments/269/ASFA-Retirement_Standard-Summary-2023.pdf.aspx?Embed=Y

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Bianca Hartge-Hazelman

Key points

• 76.1 points – The Financy Women’s Index (FWX) slipped 0.1 point in the March quarter 2023 amid cost of living pressures and marking yet another setback in progress to gender financial equality.
• 5.8-year wait for equality in Board leadership – Improvement in the March quarter, with women now accounting for 36 per cent of ASX 200 board directors.
• 20-year wait for equality in underemployment – Timeframes increased with fewer Australian women working to their desired potential in March quarter 2023.
• 24-year wait for the gender pay gap to close – Unchanged since December 2022 quarter.
• May Budget welcomed on women but still missed opportunities: superannuation on paid parental leave and time targets on gender equality.

Progress towards financial gender equality has faltered for the second quarter in a row as the gender gap in the underemployment rate widened, the Financy Women’s Index (FWX) for the March quarter 2023 shows.

The FWX fell to 76.1 points in March, down from 76.2 points out of 100 in December as an increasing female underemployment rate, relative to male, took the shine off quarterly improvements in female monthly hours worked and greater gender diversity on ASX 200 Boards.

Bianca Hartge-Hazelman, founder of Financy, says that as interest rates have been climbing, so too has the female underemployment rate.

“The growing underemployment comes despite an all-time high in the number of monthly hours worked by women, helped by growth in female-dominated services industries such as Retail Trade, Education and Training and Other Services,” she says.

“We appear to be seeing a growing desire, or perhaps financial need, among women to work more hours but they are not able to fully achieve their employment requirements.

“Given that the gender gap in underemployment rate has widened in an environment of higher interest rates for the past two quarters, the risk is that this is not an aberration and that this may continue, resulting in higher female unemployment and a greater financial strain on women, particularly those on low incomes or single parent families.

“This would be a blow to the financial progress of Australian women and cement the view that they are the shock absorbers of high cost of living pressures, more than men. This could weigh on the annual pace of progress towards gender equality beyond the next June quarter,” said Hartge-Hazelman.

Will the May Budget help gender financial equality?

Dr Shane Oliver, chief economist AMP Capital, said he would have liked to have seen more in the Federal Budget to improve gender equality in a fundamental way.

“Paying super on paid parental leave or – even better – measures to encourage more women into courses that lead to higher pay, would be considered fundamental,” he said.

Natalie Previtera, Acting CEO, NGS Super noted that while Australia has made some big strides on the journey towards financial equity for women, there is a long way to go.

“Super on paid parental leave, access to affordable childcare, more flexible working arrangements for all genders, a greater emphasis on workplace cultures that supports both parents taking on caring responsibilities as well as greater transparency in wages, are some of the barriers we still need to crack,” said Ms Previtera.

Professor Roger Wilkins, Deputy Director of the HILDA Survey, said: “Overall I think Labor is doing quite a bit and has flagged further measures going forward, such as improving the child support system and working to reduce domestic violence.

“That said, I’m not convinced the announced changes to Parental Leave Payment (and removal of Dad and Partner Pay) are positive for women. I think they will end up (unintentionally) reinforcing the notion that parenting is women’s work. To break the cycle, we probably need parenting benefits that only fathers can access – which superficially seems counterintuitive,” he said.

The outlook for gender equality timeframes in Australia

Progress is slowly happening, with the biggest challenges in those areas affected by persistent gender norms such as Education and Unpaid work.

Chart: Changes in years to financial gender equality

Source: Financy Women’s Index March 2023

Ms Hartge-Hazelman says that Education (and Expected Earnings) has a worrying time frame to equality, of 139 years.

“Why? The fields of study selected by women are less linked to higher potential earnings and the pace of change in this area is extremely slow moving,” she says.

“139 years to achieve timeframe to equality in the education fields women chose is alarming,” said Annick Donat, CEO of Clime Investment Management.

“Many of these qualifications shape the future of human lives for generations such as nursing, teaching, childcare, and yet they hold less financial ‘value’.  How we measure value needs a new perspective,” said Ms Donat.

Looking at the other areas measured by the Index, the median timeframe to equality is represented by the Gender Pay Gap, at 24 years.

This is a slightly worse result than the 22 years in the December 2021 quarter. However, the recent improvement in the gender pay gap to 13.3 per cent from 14.1 per cent in the December quarter provides hope that this should start to come down if that change continues.

Unpaid Work has a time frame to equality of 44 years in 2021, as reported in 2022, down from 59 years in 2020. The improvement is due to men increasing their unpaid work hours, but for women there’s been no change.

The time to equality in Underemployment also worsened in the March quarter as the underlying gender gap widened. It rose to 20 years, up from 18.5 in December 2022.

Superannuation experienced a reduced time frame in the gender gap of median lifetime balance, down to 19 years, from 33 years based on the latest reportable data which captures the 2019 financial year.

Employment improved the time to equality, helped by those improved monthly hours worked by women. Time to equality fell to 27.5 years in March, from 28 years last quarter.

Board Leadership is the best performing area and equality is expected on ASX 200 boards by 2030. The number of women appointed to ASX 200 directorships rose to 36 per cent in the March period compared to 35.5 per cent in December 2022.

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A financial services veteran, Bolton has over 30 years of experience in the industry, including various executive roles in public and privately owned organisations across South Africa, the UK and Australia.

Bringing an international outlook to her new appointment at Findex, Bolton is charged with driving the strategic direction of the cross-functional financial team at Findex. Her key focus will be to champion growth in regional Australia during a transformational period for the industry and alongside the senior leadership bench, aiming to triple the size of the business’ wealth practice from AUD$17 billion FUA to upwards of AUD$50 billion.

Bolton’s appointment follows a senior leadership reshape late last year where Co-Founder Spiro Paule stepped down from his role as Chief Executive Officer (CEO) to take on the newly created role of Managing Director (MD) and company veterans then Chief Operating Officer (COO) Tony Roussos and CFO Matthew Games moved into a shared Co-CEO role.

Findex Co-Chief Executive Officer Mathew Games, says, “Lianne is a seasoned and strategic financial services executive who has navigated organisations through significant periods of growth with consistent positive results. She aligns with Findex’s short and long-term strategic plans and is a welcomed asset to help us drive these outcomes.

“Alongside the changes to the senior leadership team and Lianne coming onboard, Findex is primed and in the position to take the lion’s share of the wealth sector with our best-in-class advice model that puts clients’ interests front and centre.”

Prior to joining the Findex executive team, Lianne has worked for several large organisations operating in complex environments notably Investec Bank, Bank of Queensland, and most recently holding Chief Financial Officer positions at Maia Financial and Credabl.

Bolton has proven experience in mergers and acquisition, capital raising, securitisation, balance sheet management and risk management. She has additionally demonstrated consistent results driving growth in sales, improving P&L performance, capital planning and executing data-driven product and service development strategies.

“In my role at Findex, I want to challenge what people typically expect out of a Chief Financial Officer. I don’t want to be the finance person that just sits in her office looking over spreadsheets – it’s more than that. I hope to build relationships across the business and with our stakeholders, showcasing how my team and I can contribute with meaningful insights and provide crucial wider market context,” said Findex Chief Financial Officer Lianne Bolton.

“Mentorship is truly a passion of mine and is at the core of what I do. I would not be in the position I am in today without guidance from leaders who took the time to invest in my growth. I look forward to being a visible and empowering leader to my team and the business,” said Bolton.

Findex recently added 57 new Partners and Associate Partners in both metro and regional Australia and New Zealand to its ranks, laying the foundations for a stronger more united support system across the markets.

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Tony Roussos

Young Australians (Generation Z (Gen Z) and Millennials) are putting billions of dollars of inheritance at risk with their current money management behaviours, reveals new research from Findex Group Limited (“Findex”).

The research commissioned by Findex, Australasia’s largest integrated wealth management and accounting firm, explored the spending, saving and investing behaviours of over 1,000 Australians aged from 18 to 80 across metro and regional areas.

Wealth changes hands

A key data point was 43% of Gen Z and 35% of Millennial respondents are ‘expecting an inheritance’ from their parents or grandparents; aligning with the 2021 Productivity Commission report, which  projected that Baby Boomers will pass an estimated $224 billion each year in inheritance by 2050 – creating a $3.5 trillion influx of wealth to the younger generations.

“As a society, we are facing one of the largest wealth transfers in modern history. However, what our research shows is the level of financial literacy and responsible money management among younger Australians calls into question whether they have the skills to ensure they are able to pass a similar inheritance on to their own children,” says Findex Co-CEO Tony Roussos.

Younger Aussies money management habits

While the younger respondents noted they ‘feel confident about managing their finances’ (Millennials 43%, Gen Z 35%), ‘have budgets’ (Millennials 72%, Gen Z 51%) and ‘pay bills on time’ (Millennials 96%, Gen Z 93%), this is at odds with other findings where they prefer to ‘live for today’ (Millennials 63%, Gen Z 64%), ‘spend money over saving for long term’ (Millennials 57%, Gen Z 55%) and ‘have no other investments’ (Millennials 55%, Gen Z 60%).

For those with investments, the majority of younger Australians (Millennials 70%, Gen Z 77%) are prepared to be riskier with their money – cryptocurrencies, for example, are the primary investment choice among Gen Z (42%). 23% of millennial respondents additionally noted that they had less than $20,000 in their superannuation despite the majority noting a $1 million superannuation balance would be the minimum for comfortable retirement.

Financial advice

The research also showcases a strong resistance to receiving professional financial guidance with less than half (Millennials 44.7%, Gen Z 45%) open to using a financial adviser in the future.

They instead prefer to turn to peers (Millennials 21%, Gen Z 30%) for financial advice or opt to do their own research (47% Millennials and Gen Z). A key driver for this is a feeling that they don’t have sufficient assets to justify professional advice (16% Millennials, 17.6% Gen Z) and that financial advisers were too expensive (Millennials 18.7%, Gen Z 15.7%).

Adding to this, the majority (29%) of all respondents were only willing to pay less than $500 yearly for a financial adviser, despite the current industry average sitting at $3,529 per annum.

“This is a wakeup call for the wealth industry to seriously rethink of how we engage with younger Australians,” says Mr Roussos.

“With billions on the line, it is also a clear opportunity for financial advisers to better partner with Baby Boomer clients to not only set up the transfer of family wealth but also to work closely with them to empower their kids and grandkids with the crucial, trusted professional advice.”

“By financial advisers investing the time to build multi-generational client relationships earlier on, the wealth is hopefully secured and grown over the long-term.”

How Aussies engage with financial advisers

Overall, when looking for a financial adviser, Australians consider honesty (47%), expertise (45.5%) and putting client’s interest first (41.7%) as their top three qualities.

Those who have a financial adviser prefer to deal with them face to face (66.7%) with the main financial goals being ‘to build wealth’ (27.1%), ‘have peace of mind’ (26.3%) and ‘to consult with someone with more financial expertise than myself’ (23.7%).

Additional key research figures:

• 43.5% of Australians have a confident level of understanding of how they manage their finances
• Overall, 51.3% of respondents reported they are the primary financial decision makers in their household. However, 47% of Baby Boomers and 35.4% of Gen X share responsibility with their partners
• Top types of investments:
  • Superannuation (60.4%)
  • Share/stocks (44.2%)
  • Cash (39.4%)
  • High interest savings accounts (31.6%)
  • Residential property (27%)
• How Australians decide what to invest in
  • 47.4% Did my own research into the investment and concluded it was a good investment
  • 33.6% Aligns with personal interests
  • 23.6% Advised by a financial adviser
  • 15.3% Recommended by friends
  • 14.2% Aligns with personal values (investing in an ethical and sustainable business)
• 55.1% of Australians do not use a financial planner and do not intend to use one in future
• Key barriers of entry to getting professional financial advice:
  • 32% prefer to manage own money
  • 23% too expensive/can’t afford one
  • 20% not enough assets to justify using one

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Over the next five years Findex is aiming to triple the size of its wealth practice, growing from $17 billion in FUA to upwards of $50 billion as it takes advantage of the significant changes in the wealth management landscape.

Findex Co-Founder, Spiro Paule has appointed Co-CEOs in company veterans Chief Operations Officer, Tony Roussos, and Chief Financial Officer, Matt Games, in a move to bolster the leadership team to capture this opportunity. Mr. Paule’s decision is the realisation of a succession plan that will allow him to focus on the role of Managing Director where he will continue to lead the overall strategic direction as well as overseeing the group’s ambitious expansion plans.

“The Hayne Royal Commission has had a seismic impact on Australia’s Wealth Management sector,” Mr. Paule said.

“With ASIC citing that over 3000 advisers have already left the wealth space and the major banks divesting their interests, the opportunity is ripe for Findex to lead the charge in a new way of managing wealth, focussing on customer value and transparency combined with best practice accounting services.”

Mr. Paule, who co-founded Findex more than 30 years ago with his brother Terry, said that Findex’s wealth accounting model, which provides clients with access to a broad range of advisory, financial planning, accounting and audit services via their accountant, along with deep connections into a broad cross-section of businesses and individuals, makes it competitively placed to aggressively grow its market share.

“As the largest provider of integrated Wealth and Accounting services in Australia, Findex is uniquely positioned to deliver on the vision my brother Terry and I started this business with – to bring the two major hubs of a client relationship, the accountant and financial planner, together to increase value and create better outcomes for clients.” says Findex Managing Director, Spiro Paule.

“With the growth momentum we have behind us, our investment in leadership capability at this time will help the business capitalise on the strategic growth opportunities available whilst  allowing me to step back from day to day operations. I will continue to work closely with our longstanding Board and executive team to drive the strategic direction of the business.” 

The new Co-CEOs will act as joint custodians for Findex’s new chapter. With a collective 45 years’ experience with the brand, they combine deep business knowledge with complementary skills that enhance the leadership team and will allow it to capitalise on its growth momentum.

Mr. Roussos and Mr. Games have been pivotal to Findex’s transformational M&A strategy, overseeing 63 acquisitions with key operational input during their working partnership, including global accounting firm Crowe Australasia and wealth management leader Centric Wealth. This has resulted in the business growing from a team of 50 people to nearly 3,000 across 100 locations since 2008. 

Findex Co-CEO, Tony Roussos, says, “As one of Findex’s first employees, it is a privilege to be given the opportunity to be custodian for the business as we look to activate our next stage of growth. Findex was started by two visionary founders, who saw an opportunity to bring together wealth and accounting services to deliver greater value for clients. Now, as Australia’s largest diversified financial services business, we’re continuing to tread our own path, building a model built around the needs of our clients.”

Findex Co-CEO, Matt Games adds, “When I left Macquarie Bank to join Findex as CFO 15 years ago, I was attracted to its entrepreneurial vision combined with the strong family values instilled by founders, Spiro and Terry Paule. As an executive team, we’ve always worked together under the strategic guidance of Spiro to leverage our complementary skills and I’m looking forward to continuing my strong partnership with Tony to drive the business on its next stage of growth.”

This leadership model will  bring to life Findex’s vision of an integrated wealth and accounting offering by taking advantage of the restructure of the wealth management sector where Findex’s longstanding fee-for-service model and salaried adviser status give it significant competitive advantage and uniquely positions it to deliver a Wealth Accounting model to its SME client base.

Findex has always been guided by human connection, growth and innovation. When brothers Spiro and Terry Paule founded the company in 1987, they formed key values that the company has retained through its dynamic cycle of mergers and acquisitions. Today the firm stands at nearly 3,000 staff and 250,000 clients.

The appointments of the new leadership arrangements came into effect on Monday 22 August 2022.

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Nell who is based in Sydney and has over 20 years in the Human Resources industry across markets including Australia and the United States, will provide strategic leadership of Findex’s Human Resources function which encompasses culture transformation, people solutions, diversity and inclusion, employee progression and retention.

Findex Chief Executive Officer, Spiro Paule, says, “We are committed to investing in our team and attracting the right talent to provide the highest level of service to our clients. Kath is a deeply experienced senior executive, and her skillset is well matched to our people agenda and attracting and retaining talented people.”

Prior to joining the Findex team, Kath worked for several large organisations operating in complex environments including BlueScope, Campbell Soup Company and NBN Co. Nell has a proven track record in organisational change and transformation where during her five-year tenure at NBN Co, she led the company’s culture, leadership and diversity uplift, translating data into actionable insights resulting in NBN Co’s workforce engagement and performance turnaround.

“It is currently a dynamic job market globally and as Australian employers we need to reframe how we engage with our existing talent and standout to the next generation. The Findex leadership team is very much cognizant of this and I am excited to hit the ground running with this talented team,” said Findex Chief People Officer Kath Nell.

“I pride myself in providing pragmatic solutions at all levels – the enterprise, executive leadership team, functional, and individual levels – catalysing organisational changes, that ultimately make a difference in the long run,” said Nell.

Nell will be joining the 2,700 strong staff that are currently employed by Findex across Australia and New Zealand, servicing a client base of over 250,000 clients and over $17bn funds under advice.

Findex recently added over 50 new Partners and Associate Partners in both metro and regional Australia and New Zealand to its ranks, laying the foundations for a stronger more united support system across the markets.

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