Financial advisers require specialist services to handle complexities

A new survey conducted by Viridian Advisory has found a rising demand for specialist knowledge and expertise to assist financial advisers in handling growing complexities, particularly in areas such as tax, estate planning and aged care.

The Adviser Sentiment Poll of 50 financial advisers found that 93 per cent of them believed the profession’s “skill set… has become significantly more complex over the past five years”. Close to three-quarters of respondents (72 per cent) said they engage frequently with other advice specialists to help meet their clients’ needs and build advice strategies and plans.

“These days, access to specialists isn’t a nice-to-have—it’s an absolute must. Clients face increasingly complex financial challenges, from tax and estate planning to navigating divorce and aged care,” Brett Arnol, Co-Founder and General Manager of Advice at Viridian Advisory, said.

“No single adviser can be an expert in all these areas, which is why having a network of specialists is essential. It’s about making sure clients get the right advice from the right people, tailored to their unique situation, and no single adviser can deliver that alone.”

The poll also suggested that 88 per cent of advisers had increased their use of separately managed accounts (SMAs) within their clients’ portfolios, also indicating a need for specialised services and assistance. The majority of polled financial advisers (86 per cent) also cited data security and information protection as vital priorities.

“With evolving technologies and tighter regulations, data protection has become non-negotiable,” Raamy Shahien, Joint Chief Executive Officer at Viridian Financial Group, said.

“Being ISO certified demonstrates our commitment to safeguarding client information, offering a level of trust and security that should be the standard for others in the industry.”