[Weekly Wrap] Why the financial advice world is great

That was brought home too me this week with the news that Peter Hensley died on Tuesday. Peter, or Henso as he was known, was a wonderful person and his death a tragic loss. The comments coming through on the obituary I wrote reinforce what a great bunch of people we work with.

As I sit her writing this I reflect back on the four conferences I have been to in the past fortnight. It is great to go to these events and catch up with old friends, staff and acquaintances.

Now back to business. One of the themes coming through in the news is the changing shape and make up of the financial adviser space. Smaller firms are disappearing into bigger, often funds management driven groups. A good example of this is today's story about how Diversified Investment Strategies has essentially folded with one shareholder moving to Fisher Funds and taking most of the firm's clients with her.

Recently we have seen Goldridge taken over by AdviceFirst which is majority owned by AMP. This move is also interesting as all the Goldridge advisers are now salaried advisers. We understand some other groups have moved to a salaried adviser model too.