Empowering Private Wealth Advisers with Greater Independence and Technology
The private wealth management industry is evolving as financial advisers increasingly seek greater control over their businesses, stronger technology, and flexible operating models. Openmarkets is responding to this shift by expanding its private wealth advisory offering, providing advisers with access to an independent Australian Financial Services Licence (AFSL) model supported by technology, compliance resources, market infrastructure, and operational expertise.
Wealth management advisory provides personalised financial guidance, investment strategies, and long-term planning to help individuals and families manage assets, pursue financial goals, and build lasting wealth.
The new approach is designed for advisers who want to build and grow their own practices without being restricted by the traditional structures associated with banks and large broker-dealer organisations. Under the Openmarkets model, advisers can operate their businesses independently while retaining ownership of their client relationships. This provides greater freedom to shape their services and business strategies around the needs of their clients.
A Flexible Model for Modern Advisers
One of the key advantages of an independent AFSL model is the ability to combine business autonomy with professional infrastructure. Running a private wealth practice requires more than financial expertise. Advisers must also manage compliance obligations, technology, operational processes, market access, and other administrative responsibilities.
Openmarkets aims to address these challenges by providing the infrastructure and resources advisers need to operate efficiently. Instead of building every component from the ground up, advisers can leverage established systems and professional support while concentrating more of their time on client relationships and business development.
The product-agnostic nature of the offering also gives advisers flexibility when considering solutions for their clients. This can support a more client-focused approach, where recommendations are driven by individual objectives rather than institutional product requirements.
Technology and Compliance Support
Technology has become an important part of modern wealth management. Advisers need reliable systems that can help them manage their businesses, access market infrastructure, and deliver an efficient client experience. Openmarkets combines its fintech capabilities with its private wealth offering to provide advisers with technology resources alongside licensing and operational support.
Compliance is another critical consideration for financial advisers. Maintaining appropriate processes and meeting regulatory responsibilities can consume significant time and resources. By providing compliance support as part of its model, Openmarkets enables advisers to access specialist infrastructure while maintaining their focus on delivering professional financial advice.
Supporting Business Growth
The model is also designed with long-term growth in mind. Openmarkets has already developed a national network of private wealth advisers and has set an ambition to expand this network significantly over the coming years.
For advisers considering establishing or expanding an independent practice, this combination of autonomy and institutional support can provide an attractive alternative to conventional dealer-group structures. Advisers can maintain control over their businesses and client relationships while benefiting from the scale, technology, and expertise of an established financial services provider.
A New Direction for Private Wealth Advice
The growing interest in independent advice reflects a broader change in the wealth management sector. Advisers increasingly want the freedom to create businesses around their own values, client service models, and growth objectives.
Openmarkets’ private wealth advisory offering brings these priorities together through an AFSL framework supported by technology, compliance, infrastructure, and operational expertise. By combining independence with established resources, the model is positioned to help advisers build sustainable practices while remaining focused on what matters most: delivering quality outcomes and lasting value for their clients.
