Neil Younger

Business services partner, Entireti, has partnered with specialist wealth management career and talent development platform, Striver, to launch a program that will place high quality graduates and job seekers in the group’s member firms, reinforcing its commitment to raising up the next generation of financial advisers.

The partnership will see Entireti’s advice networks, including Akumin, Fortnum and Personal Financial Services (PFS), white label Striver’s technology platform, which connects employers and candidates, and also features a range of education and training resources and tools.

Neil Younger, Entireti Group Chief Executive Officer, said the advice profession’s demand and supply challenges required greater attention from all stakeholders, including the government, tertiary education providers and service providers to the industry.

“We need more advisers to meet the advice needs of Australians and close the advice gap, and that includes investing in the next generation,” he said.

“As one of the largest advice business services providers, Entireti has the infrastructure and scale, and also a mandate, to invest in programs that will underpin the long-term growth and success of our advice businesses and the broader profession.”

Matt Lawler, Akumin Chief Executive Officer, said attracting and developing new entrants was in the group’s heritage and DNA and across the Akumin community many firms had mentored and continued to mentor professional year (PY) advisers.

He said the Striver partnership reflected the group’s desire to play an even bigger leadership role in replenishing adviser numbers, increasing the capacity of advice businesses to serve more clients, and building a sustainable, thriving profession.

“We’re here to help advice businesses grow and achieve their objectives, which involves attracting and retaining talent, and identifying future leaders,” Lawler said.

“We are excited to partner with Striver to connect employers and candidates, and create pathways for people to pursue a rewarding career in financial advice.”

Matt Brown, Chief Executive Officer of Fortnum and PFS said the partnership with Striver would connect employers and candidates, and create pathways for people to pursue a rewarding career in financial advice.

Alisdair Barr, Striver Founder and Chief Executive Officer, said Entireti currently represented the group’s only licensing and business services partnership, despite having garnered support from a number of fund managers, super funds, platforms and software providers.

“To achieve our mission to support 5,000 new advisers over the next decade to make advice accessible to 750,000 more Australians, we need to partner with organisations like Entireti to build a network of advice businesses that are committed to taking on new entrants, teaching them the ropes, and giving them a good experience so they stay in the profession and build their career,” he said.

“We’ve been successful at placing talent inside Akumin businesses for a number of years, leading to this opportunity to support the broader Entireti group, which we are extremely excited about.”

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Established in 2010 by AMP, the competition aims to recognise the next generation of financial planning talent, and promote financial planning as an attractive career.

As part of the challenge, entrants are tested on their technical knowledge and must produce and present a statement of advice. Participants also delivered a presentation on the value of life insurance.

This year’s event was held in Melbourne and judged by an independent panel that featured Steve Sloane from Link Wealth Group, Alisdair Barr from Striver, Lisa Sorgini from AMP, and Phil Anderson from the Financial Advice Association of Australia. RMIT’s Wraith, who is also Member Manager at Pursue Wealth and a member of the FAAA’s Emerging Professionals Committee, beat Deakin University’s Ryan Pfitzner, Kirstie Suleman and Aislin Jones in second, and Michael Woods in third.

Other finalists included Martin Sta Romana from RMIT and Hendra Kosasih from TAFE NSW.

Neil Younger, Chief Executive Officer, Entireti, said the University Challenge formed part of a broader strategy to identify, nurture and advance the next generation of financial advisers.

The group’s plans include supporting advice businesses across Akumin, Fortnum Private Wealth, Personal Financial Services and Entireti Alliances to attract young talent like graduates and other job seekers.

“To improve access to quality advice and close the advice gap, the industry needs to urgently increase adviser numbers, which starts by promoting financial planning as an attractive career path and actively engaging with schools and universities,” Younger said.

“As one of the largest service providers to advice businesses, we believe that we have an obligation to play a leadership role in investing in the next generation of talent coming through.”

According to Wraith, who describes herself as an “aspiring financial adviser” on LinkedIn, the highlight of participating in the Entireti University Challenge was the opportunity to learn from experienced advisers and connect with like-minded students from across the country.

“This event gave me a chance to put theory into practice and tackle real-world scenarios,” she said.

“I’m passionate about making financial advice more accessible, particularly for young people.”

After graduating from RMIT at the end of this year, Wraith plans to begin her professional year within the next 12–18 months.

“Eventually, I’d love to become a partner at a firm that shares my values – or maybe even start my own financial planning business one day,” she said.

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Matt Lawler

AMP has partnered with advice community and careers technology platform Striver for its annual Brimstone event series, to be held in Sydney next week.

Now in its second year, Brimstone brings together current university students and graduates from across Australia as well as those seeking a career change into financial planning.

More than 400 students attended the Brimstone series to date, providing an important space for new entrants and aspiring advisers to hear from some of Australia’s largest licensees, advice practices and explore career opportunities within the financial advice profession.

Feedback received by Striver from students at last year’s Sydney event revealed more than 4 in 5 people would now consider advice as a career path. In addition, 2 in 5 attendees at the event were female, underscoring the importance of events like Brimstone in promoting careers in financial planning.

This year is the first time that Brimstone expanded interstate, with roadshows across Melbourne, Brisbane as well as Perth held last month.

Matt Lawler, AMP Group Executive, Advice said: “At AMP, we’re passionate about helping nurture and empower the next generation of advisers, helping instil confidence in the professionalism of financial advice.

“As a foundational partner of the Brimstone series, we welcome the opportunity to play our part in helping guide the next cohort of talented advisers and creating pathways for new entrants in advice.

“This year, AMP Advice has welcomed almost 40 ‘new to the advice profession’ advisers to its fold. We would like to increase that fourfold. With an increasing demand for financial advice from Australians, financial advice represents an exciting career path for graduates and we are keen to support the pathway of interested candidates through our practices around the country.

“Together with Striver, the team at AMP Advice continues to work hard to strengthen our relationships with our tertiary partners, helping provide scholarships to the next generation of students and aspiring financial planning professionals.”

Alisdair Barr, Striver CEO and Founder said: “The Brimstone series has been super successful over the last 12 months but it is only the beginning. We are feeling the groundswell of change and working with licensee groups like AMP adds magnitude and gravitas to the movement we are creating.

“We know this next generation of advisers are seeking structured pathways and clarity of opportunities which have been affected over the last few years so we are recreating those career pathways from the ground up, making advice as a career more accessible than it has been.

“With the audience Brimstone attracts, these events emphasise the social impact that careers like advice have in making a difference to many Australian futures.

“Through our partnership, AMP is showcasing support for creating fulfilling careers and promoting advice as a career. If your firm supports growing the next generation of advisers, we encourage you to join us at Brimstone.”

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Alisdair Barr

HUB24 has announced they will expand their relationship with Striver, a leading HR technology platform, to provide more educational resources to support the next generation of financial advisers. While the number of advisers in the industry has started to stabilise, more is needed to meet the growing demand for advice.[1]

Since 2022, HUB24 has been providing Striver’s tribe of students and graduates with access to education on managed portfolios. Going forward students will now be provided access to HUB24’s Managed Portfolio Academy, which provides a comprehensive understanding of managed portfolios and how they can help advisers enhance their value proposition, provide tangible benefits for clients and grow their business.

HUB24 will also be showcasing how emerging tech like AI and machine learning can deliver better outcomes for advisers and their clients, enabling cost-effective financial advice.

HUB24 Head of Group Marketing & Communications Anne McDonnell said: “We’re delighted to be continuing our support of Striver, providing education to the next generation of financial advisers and empowering better financial futures together.

“As the demand for access to quality financial advice continues to rise, ensuring a strong pipeline of new financial advisers into the industry is an important factor in meeting this demand and creating a sustainable advice profession.”

As part of the partnership, HUB24 Chief Product & Innovation Officer Craig Apps will be delivering a keynote address to Deakin University students on the rise of AI within the advice industry.

“Innovation, machine learning and AI is playing a significant role in the future of advice. By leveraging technology and data solutions, we can help solve some of the key challenges advisers and clients are facing and pave the way forward for our industry.”

Founder and CEO of Striver Alisdair Barr said: “We’re excited to gain the continued support of HUB24 who provide the Striver community with market-leading insights and resource materials.

“From showcasing education materials on managed portfolios, to sharing their innovations in financial services through AI and machine learning, all designed to achieve better outcomes for current and future advisers and their clients.

“We look forward to continuing our partnership with HUB24, supporting the sustainable growth of the profession and our mission of creating fulfilling careers.”

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Notes:
[1] https://www.afr.com/companies/financial-services/the-wealth-adviser-exodus-has-bottomed-out-for-now-20230414-p5d0fj

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Over $117,000 was raised for the AFA Foundation, making Kokoda 2018 the biggest single fundraising event in the foundation’s history.

Members and friends of the Association of Financial Advisers (AFA) have completed the 96km Kokoda Trail which took place from 24 August – 2 September.

The group raised a total of over $117,000 for the AFA Foundation, making Kokoda 2018 the biggest single fundraising event in the foundation’s history.

The group included AFA CEO Philip Kewin, Alisdair Barr, Ross Barnwell, Brad Fox, Russell Hannah, Michael Molloy, David Mounsey, Adrian Raftery, Nathan Taggart and Cara Williams.

The funds will be distributed by the AFA Foundation which gives generously to a number of charities including Legacy, The Black Dog Institute, MS Research Australia, Make a Wish Foundation and Bears for Hope.

Mr Kewin said the group was proud to raise funds for the AFA Foundation, which encourages giving back to local communities via charity partners. “This truly was a memorable experience, challenging us all at both a physical and an emotional level. It was a privilege to complete the trek with such a great group of people who did an amazing job in raising funds for their chosen charities.”

Olivia Sarah-Le Lacheur, chair of the AFA Foundation said, “The AFA Foundation engages AFA, members, partners and supporters in giving back to the community and working with our charity partners to make a meaningful difference for people in need.

“Over the past 11 years, we’ve shared over $1.6m with a wide range of charities across all states of Australia. Through the Kokoda program the AFA community has had the opportunity to participate in a life changing experience and raise much needed funds for our charity partners. We are very proud of the participants for their financial and physical achievements on the Kokoda trail.”

Brisbane-based financial adviser, Cara Williams, who did the trek to raise funds for Bears of Hope and to honour the memory of Darcy, her nephew who was stillborn, said, “Trekking Kokoda with the AFA Foundation was one of the most amazing weeks of my life. It was the hardest thing I’ve ever done but worth every single moment. I would encourage everyone to consider trekking Kokoda. You will learn so much about what our soldiers went through, you will grow as a person and you will have the honour to trek with some incredible people who will be mates for life.”

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Alisdair Barr

Graduate talent firm, Grad Mentor, is helping to bridge the divide between graduate and employer expectations in the financial services industry, revealing the key drivers of successful relationships in its latest research, The Perfect Marriage – The Graduate and the Firm.  

Managing Director and author of the Grad Mentor research,

, says the intention of the research is to provide key insights and a best practice management framework to mitigate the negative outcomes often experienced in graduate resourcing.

“Attracting, retaining and engaging the next generation is vital to the future of the financial advice profession and so building successful and enduring relationships between the graduate and the firm is key,” said Barr.

Research from The Perfect Marriage – The Graduate and the Firm reveals the seven major ‘Drivers of a Successful Marriage’ that impact the relationship between the firm and the graduate and offer a clear pathway to the ‘payback’ point, where a firm’s investment in the graduate returns cost.

“One of the drivers that we uncovered from the research that may be quite surprising to industry professionals is that remuneration is not an important factor for graduates when they’re considering which firm to join”, said Barr.

“To remain competitive, firms need to take a fresh approach to compensation that reflects new values, attitudes and lifestyles of graduates.

“A better, more efficient outcome for both sides will focus on the ‘softer’ types of remuneration which include flexible working styles, business improvement and innovation, ongoing professional development, and providing a sense of social purpose.

“Values are an important driver of workplace performance and success in employer/employee relationships, and while they can often be interpreted differently between generations, at their core, they are actually very similar.

“By helping professionals truly understand the ‘what’ and ‘why’ around what graduates value in their career opportunities and providing the framework on how to communicate their own values and expectations clearly, high performance and trust can flourish.”

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Alisdair Barr

For the second year running, Zurich Financial Services Australia (Zurich) is partnering with talent firm, Grad Mentor to help raise awareness of Financial Planning as a career path for university graduates and attract the best and brightest to rejuvenate the future of the profession.

A series of “speed-networking” events, sponsored by Zurich, will be held in Sydney, Melbourne and Perth throughout October to help recent graduates kick-start their financial planning career path and allow business leaders and industry representatives meet some of the best young, hand-selected talent Australia has to offer.

Head of Distribution, Retail Life & Investments, Ms. Kristine Brooks says Zurich has an ongoing commitment to celebrate the very best in the advice profession.

“We’ve demonstrated this commitment for the past 13 years through our sponsorship of the AFA Adviser and Practice of the Year awards. To balance this celebration of experience, more recently we have partnered with Grad Mentor to help support new entrants and emerging talent within the financial advice industry,” said Ms. Brooks.

Grad Mentor founder, Mr. Alisdair Barr says the speed-networking events give Australia’s most ambitious, talented and driven graduates the opportunity to grow their professional networks and secure valuable partnerships with some of the industry’s leading businesses.

“We know the reality of job hunting and meeting with potential employers can be daunting, especially for young students, so the events have been designed to be fun and engaging to allow both business leaders and graduates to get to know each other before deciding whether to move on to a formal interview process,” said Mr. Barr.

Zurich hosted the events in Sydney and Peth last year which secured 50 talented graduates into the profession. This year’s events will attract around 135 new participants.

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