Skip to main content

New educational advice practice opens, targets HNW market

Yasmine Raso29 May 2024

The financial advice market has had a new entrant arrive on the scene in Freshwater Wealth, providing an “education-based advice service” targeted towards high-net-worth (HNW) individuals.

Established in December last year, the new business brings together a combined 93 years of experience in its team, with founder Roger Perrett formerly of Westpac Financial Advice joined by Jon Harris from BT Advice and Dean Fuchs also from Westpac.

Freshwater Wealth’s clients are primarily made up of retiring baby boomers and single and widowed women seeking advisers to achieve their lifestyle goals but also improve their financial wellbeing and navigate challenges with the help of educational tools and resources.

Perrett said the practice was born out of the increase in demand for financial advisers to address the industry’s “perfect storm – greater awareness by baby-boomers of the choices ahead of them, strong demand for advice, yet not enough advisers to supply the service”.

“Demand is extremely high and there is a huge opportunity with retirees, women and those who have inherited money or who are facing an illness, to provide a service that focusses on achieving clients goals and maximising available opportunities but also solve potential problems,” he said.

These financial challenges include “avoiding debt mistakes, living confidently without paying income tax again, caring for elderly parents, cybersecurity, safely transferring money and gifting funds and inheritance with the desired outcomes”.

“The baby-boomer generation is more aware than ever before of the complex web of issues that they face around housing, retirement, aged-care and inheritance but they are unsure where to get the answers.”

Freshwater Wealth is licensed by Centrepoint Alliance Pty Ltd, joining 800 other advisers.

“Financial advice is about having a strategy in place to protect and grow wealth, but it also needs to educate clients on how they can manage common financial and lifestyle challenge. Freshwater Wealth is excited to be bringing this premium service to the Australian advice market,” Perrett said.

Subscribe to comments
Be notified of
Inline Feedbacks
View all comments