Dan Jowett

Trading and wealth management fintech Openmarkets has expanded into private wealth advisory, onboarding several new advisers in the last 12 months, and bringing a suite of services to market as part of its strategic push into the $4.75 trillion^[1] wealth management sector.

Designed on a product-agnostic model, Openmarkets’ private wealth advisory business empowers advisers to operate their own business under Openmarkets’ Australian Financial Services Licence (AFSL), reaping the benefits of operating their business while benefitting from Openmarkets’ operational support, market infrastructure, technology solutions, compliance and expertise.

Since entering the private wealth market, Openmarkets has built a national network of advisers. Its ambition is for this business is to grow to 50 advisers over the next three years.

Openmarkets CEO, Dan Jowett, said Openmarkets’ private wealth offering reflects a shift toward privately owned businesses from traditional bank-aligned and broker-dealer models.

“Our private wealth business is designed to empower advisers with the autonomy to build and scale their own practices, while leveraging Openmarkets’ depth of infrastructure and expertise. Advisers own their client relationships and have the flexibility to run their business in a way that best serves their clients.

“Unlike traditional banks and brokers, we don’t carry many of the high overhead costs of legacy structures. This enables us to deliver a better commercial outcome for advisers, ensuring they can focus on growing their client portfolios rather than navigating institutional constraints.

“Our goal is to offer the best of both worlds: advisers gain the autonomy they value, and clients benefit from the resources and scale of a leading Australian wealth and fintech firm,” Jowett added.

Daniel Lalabalavu, Director and Senior Financial Adviser at Arima Investment Partners joined Openmarkets Group in March. Mr Lalabalavu said Openmarkets offers an attractive proposition built around independence, market-leading technology, and compliance.

“I started my practice because I wanted to provide clients with the same high-quality advice and outcomes I’ve delivered during my career, but with greater control over my business and operating model and no perverse incentive structures. I’ve been able to achieve this thanks to the licensing, technology, branding and support that Openmarkets provides,” said Mr Lalabalavu.

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Notes:
[1] Managed Funds, Australia, December 2023 | Australian Bureau of Statistics. Excluding superannuation, private wealth funds under management estimated at $1.2 trillion (Oliver Wyman, 2023).

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Dan Jowett

Trading and wealth management fintech Openmarkets has expanded into private wealth advisory, onboarding several new advisers in the last 12 months, and bringing a suite of services to market as part of its strategic push into the $4.75 trillion^[1] wealth management sector.

Designed on a product-agnostic model, Openmarkets’ private wealth advisory business empowers advisers to operate their own business under Openmarkets’ Australian Financial Services Licence (AFSL), reaping the benefits of operating their business while benefitting from Openmarkets’ operational support, market infrastructure, technology solutions, compliance and expertise.

Since entering the private wealth market, Openmarkets has built a national network of advisers. Its ambition is for this business is to grow to 50 advisers over the next three years.

Openmarkets CEO, Dan Jowett, said Openmarkets’ private wealth offering reflects a shift toward privately owned businesses from traditional bank-aligned and broker-dealer models.

“Our private wealth business is designed to empower advisers with the autonomy to build and scale their own practices, while leveraging Openmarkets’ depth of infrastructure and expertise. Advisers own their client relationships and have the flexibility to run their business in a way that best serves their clients.

“Unlike traditional banks and brokers, we don’t carry many of the high overhead costs of legacy structures. This enables us to deliver a better commercial outcome for advisers, ensuring they can focus on growing their client portfolios rather than navigating institutional constraints.

“Our goal is to offer the best of both worlds: advisers gain the autonomy they value, and clients benefit from the resources and scale of a leading Australian wealth and fintech firm,” Jowett added.

Daniel Lalabalavu, Director and Senior Financial Adviser at Arima Investment Partners joined Openmarkets Group in March. Mr Lalabalavu said Openmarkets offers an attractive proposition built around independence, market-leading technology, and compliance.

“I started my practice because I wanted to provide clients with the same high-quality advice and outcomes I’ve delivered during my career, but with greater control over my business and operating model and no perverse incentive structures. I’ve been able to achieve this thanks to the licensing, technology, branding and support that Openmarkets provides,” said Mr Lalabalavu.

———-

Notes:
[1] Managed Funds, Australia, December 2023 | Australian Bureau of Statistics. Excluding superannuation, private wealth funds under management estimated at $1.2 trillion (Oliver Wyman, 2023).

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