In this episode of The Rate of Change, Murdoch Gatti sits down with Michael Campbell, Principal of McAlistair Capital, to discuss the structural changes reshaping the Australian financial advice profession.

If you are interested in the future of financial advice, the economics of advisory firms, and how growth advisers are building larger businesses through acquisition, then you will enjoy this conversation.

Over the past decade, adviser numbers have fallen dramatically as regulation, education requirements and compliance standards reshaped the industry. While the profession has become smaller, it has also become more professionalised — increasingly resembling other trusted professions such as law and medicine.

At the same time, a new group of growth advisers is emerging.

Rather than operating small lifestyle practices, th ...