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.

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Matt Fenning

Financial advice firm Esencia Wealth has opened its new Sydney office at Governor Phillip Tower, following the merger of four advice businesses: Advise Wise, Insight Private Wealth, Sovereign Wealth Partners and Randle Advisory.

With over 1000 clients, and a combined legacy spanning over 100 years, the Esencia team are dedicated to helping Australians make life-changing decisions with their money.

Matthew Fenning, newly appointed CEO of Esencia, said: “Our four firms have come together to capture the opportunity in a diverged market to build a world-class advice business – one that enhances the existing ethos of each firm to use financial advice as a mechanism for changing clients’ lives.”

The business’ name means essence in Spanish. The intent of the brand is to inspire clients, staff and partners alike to consider what truly matters, and to understand how quality financial advice is a key driver to achieving the future they desire.

Mr Fenning said: “Our purpose is a continuation of the values that each of our businesses held dear, centred on marrying deeply personal relationships with integrity. As we plan to expand further, we will be looking to partner with and acquire other firms that share these values and our aspirations.

“The merger of the founding members of Esencia made sense because we found similarities across our business cultures – and cultural alignment is the cornerstone of a successful integration.”

Currently Esencia’s client groups include high-net-worth families, professionals, retirees and medicos, and the business offers advice by women for women. The business’ growth strategy will see a continuation of this house of niches approach to attracting new clients.

The new leadership team of Esencia will also include former Macquarie executive Jeffrey Wrightson as Managing Partner, Insight Private Wealth Principal Sam Stillone as Head of Growth, and former Shadforth Financial Group co-founder and Director Jim Kilkenny as Chairman. The team plans to build on their expertise with additional hires.

Esencia is committed to championing the professionalisation of the advice industry, as the industry emerges from a period of upheaval to an era of stability and growth. Part of this includes creating career pathways for its own as well as new staff.

Mr Fenning said: “Traditionally the advice industry has struggled to develop a transparent career pathway that is commonly found in professional services firms. By establishing this in our business, we can provide those entering anywhere from the ground floor up with an opportunity to progress and become a partner in the business. This is critical for attracting and retaining talent and, importantly, another marker of professionalism in the advice industry.

“The confluence of significant industry change, an ageing population, the multi-trillion dollar intergenerational transfer of wealth, and exponential growth of the superannuation system, places advisers in a critical position in the coming years and decades, in determining the prosperity and quality of life of Australians.”

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