Having earlier announced that it wants to tap into what it sees as a growing advice market, Diverger has now launched new support for advisers via its subsidiary, Knowledge Shop — the Knowledge Shop Adviser Membership service — which in essence is a technical help desk that covers compliance, ethics, tax and superannuation.
It also provides managed, accredited continuing professional development (CPD) content so practices and licensees can track and measure their CPD at an individual adviser and organisation level.
The platform was previously available only to accountants. However, Diverger said that with the proliferation of small independent advice practices across the advice industry, significant demand has been created for a one-stop-shop education and technical support service provider.
“We are thrilled to be expanding Knowledge Shop’s [membership] services to financial advisers,” said Lisa Armstrong, managing director of Knowledge Shop.
“While professional standards are vital in building a trusted profession, they need to be well supported and currently, there is a missing link to how this translates to the daily work advisers perform.
“[No adviser] can know everything that their clients need. The adviser membership and CPD offer provides that certainty and a way of test-checking thinking.”
In an ASX listing filed after its general meeting last week, Diverger said its growth strategy is focused on leveraging the demand for advice, which is far outstripping supply.
Speaking at the general meeting, Diverger chairman Peter Brook said the ongoing challenging economic conditions and post-COVID-19 recovery, including rising interest rates and cost-of-living pressures, have driven home the relevance of financial advice and the role it must play in maximising Australians’ wealth.
“Overlay this with the demographic change sweeping through Australia such as the inevitable retirement of Baby-Boomers, the transfer of wealth and the growing numbers of Millennials (aged 26 to 41 years and who incidentally are advice seekers), emphasises the growing need for supported and quality financial advice in Australia,” Mr Brook said.
He added that Diverger will continue to invest in its proposition, innovate, consider organic and M&A growth opportunities, and seek to deliver “service excellence and value to our clients”.
