The growing complexity of financial advice is driving an increasing demand for specialist expertise, according to a new adviser poll.
The Adviser Sentiment Poll, conducted by Viridian Advisory, surveyed over 50 financial advisers and found that 79% believe it is critical to have access to financial advice specialists in areas such as tax, estate planning, and aged care to provide comprehensive, holistic advice.
Brett Arnol, Co-Founder and General Manager of Advice at Viridian, says today access to specialists “…isn’t a nice-to-have—it’s an absolute must.”
He says clients face increasingly complex financial challenges, from tax and estate planning to navigating divorce and aged care.
“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…”
The survey also found:
- 72% of respondents regularly work with other financial advice specialists in tax, aged care, and estate planning
- 93% of advisers found that the skill set required for financial advice has become more complex over the past five years
- 88% report increased use of SMAs to meet growing client needs as advice becomes more complex
- 86% of advisers are seeing heightened client awareness around data security, driven by increasingly strict regulations.
Viridian adds that its network of specialists covers a range of areas essential to clients’ financial well-being, including investment planning, wealth protection, debt management, and superannuation. Advisers also offer expertise in more niche areas such as aged care advice, UK pension transfers, and SMSF structures.
The firm notes its poll found that 86% of advisers are seeing heightened client awareness around data security.
Raamy Shahien, Joint CEO at Viridian Financial Group, says that “…with evolving technologies and tighter regulations, data protection has become non-negotiable,” pointing to Viridian’s ISO certification which ensures rigorous standards in data management.
