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The Rate Of ChangeAuthor: Murdoch Gatti
The Rate of Change is a podcast designed to help you in the pursuit of building long term wealth, through the insights of some of the brightest minds in asset management.Your host Murdoch Gatti is an advisor at York Wealth Management. We work with High Net Worth individuals, institutions & family offices to help grow & protect their wealth.If you like what you hear and wish to learn more about the York Wealth community, please visit us at www.yorkwealth.com.auDisclaimer: The Rate of Change podcast is presented by its speakers. The views and opinions expressed in this podcast are those of the speakers in their personal capacity and do not represent the views of York Wealth Management Pty Ltd, its shareholders, directors, or any other third party.Any discussion of financial products, investments, credit, or property opportunities in this podcast is provided strictly for general information and discussion purposes only. Nothing in this podcast constitutes general advice, personal advice, financial product advice, credit advice, or a recommendation. Before making any financial or investment decisions, you should seek advice from a licensed professional who will consider your objectives, financial situation, and needs.Australian listeners can obtain further information about choosing a financial adviser by visiting www.moneysmart.gov.au.For clarity, The Rate of Change podcast is a business owned and operated by Murdoch Venture Capital Pty Ltd. Any client, relationship, or referral that arises through The Rate of Change in connection with services outside the scope of financial services requiring an Australian Financial Services Licence including, without limitation, private credit, property development, or other non-AFSL activities shall remain the sole property of The Rate of Change. Where listeners wish to obtain advice in relation to their investments or other matters that fall within the scope of financial services requiring an AFSL, The Rate of Change may re Language: en Genres: Business, Entrepreneurship, Investing Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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#48 Michael Campbell | The Great Adviser Shortage & How Growth Advisers Are Building Firms Through Acquisition
Episode 48
Tuesday, 10 March, 2026
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, these advisers are building scalable advisory firms through acquisitions, infrastructure and strategic capital. Campbell works directly with advisers navigating this transition, helping them source deals, structure transactions and grow their firms through mergers and acquisitions in the wealth management sector.In this conversation Murdoch and Michael discuss:• The dramatic decline in adviser numbers in Australia• Why financial advice is becoming a scarcity profession • The difference between lifestyle practices and growth advisory firms• How financial advice businesses are valued• Why scale changes valuation multiples• How advisers can grow by acquiring other practices• The mechanics of financing advisory firm acquisitions• Why consolidation is likely to reshape the advice industry over the next decadeFor advisers, investors and industry professionals, this episode offers a rare look inside the economics of financial advice businesses and the opportunities emerging as the industry evolves.
