A Sydney-based practice advising high-net-worth individuals is merging with Esencia Wealth, adding some 250 clients and two senior advisers to the firm.

Stockbroking and investment advice firms need to broaden their approach to attracting and retaining talent as the profession prepares for a major shift in clients and wealth, according to a new report from the Stockbrokers and Investment Advisers Association (SIAA).

Digital advice has become a core offering for wealth managers, yet it confuses many and implementation and use remain fragmented. Before it can achieve aspirations of scale, experts are urging for a better, unified understanding of the offering.

Melbourne-based advisory firm Aperio Financial Services has switched licensees and joined Akumin as demand grows among advice practices for support to scale operations and improve efficiency.