Finchley & Kent to utilise Padua technology for its advisers
Advice licensee Finchley & Kent has announced a strategic partnership with Padua Solutions.
This will allow the licensee’s advisers to use Padua’s advice technology and services, including its Paraplanning as a Service and Transition Management as a Service offerings.
The use of these services will reduce complexity and allow for increased productivity for advisers, allowing them to spend more time with clients, the firms said in a joint statement.
Finchley & Kent managing director, Sam El Shammaa, said: “We’re thrilled to partner with Padua Solutions, whose forward-thinking technology solutions will empower our advisers to deliver more efficient, personalised, and scaleable advice. Our collaboration underscores our shared vision to positively disrupt and reshape the future of financial services.”
Matt Esler, co-founder and chief executive of Padua Solutions, said: “This partnership signifies an exciting step forward in supporting advisers to better manage their businesses and deliver exceptional client outcomes. Finchley & Kent’s fresh approach to advice aligns perfectly with our commitment to transforming financial advice through innovative, accessible technology.”
Adviser Ratings previously encouraged advice licensees to embrace technology in their practices as a way to scale up their businesses, including the use of data and analytics.
Referencing findings in its 2024 Adviser Landscape report, it said those tech-savvy practices operate with 55 per cent fewer staff and achieve a minimum of 10 per cent higher profit margins than less tech-savvy ones.
Similarly, the use of data analytics in their daily operations allows practices to report 15 per cent higher revenue per client and improved retention rates than traditional segmentation methods.
“The financial advice profession is at a pivotal moment. The combination of regulatory reform, technological advancement, and evolving client needs creates unprecedented opportunities for practices willing to embrace change,” it said.
“Those who take time now to reimagine their operations – from advice delivery to technology adoption to client engagement – will be best positioned to thrive in 2025 and beyond. The practices that embrace this opportunity to reimagine their operations will not just survive but thrive in the years ahead.”
Sydney-based Finchley & Kent came in second position last year for adviser growth, according to Wealth Data. It saw an increase of 37 advisers for the year, behind Centrepoint Alliance at 39, and ahead of PictureWealth at 33.
While other licensees are growing their numbers via inorganic M&A activity, 90 per cent of its adviser appointments have been referred by word of mouth, El Shammaa said, through other advisers or practices in the industry.
AUTHOR
Laura Dew
Recommended for you
The restructure of Insignia Financial’s advice network into two parts could lead to further adviser attrition than initially forecast if advisers shun the salaried model, Morningstar believes.
The Australian Wealth Advisors Group has taken a 20 per cent stake in two Australian wealth management firms, having also made two investments last year.
A decade after being permanently banned from financial services, a former financial adviser will finally face court in WA following a failed bid to avoid extradition.
Only a third of Australians are willing to pay more than $500 for advice, thousands of dollars behind what advisers need to charge just to stay in business.
