Named the ‘Escala Advisory Growth Track’, the firm says it will introduce a clear, competency-based pathway from entry level roles through to investment adviser. This will be completed alongside “enhanced learning and development opportunities, and an established mentorship program.”
Escala framed the new pathway as a response to broader structural issues facing the industry, including the falling number of advisers, gender imbalance, an ageing workforce and the need for advisers to adopt new technology-centred skills.
Torty Howard, chief operating officer at Escala, said the initiative also aims to help address the advice profession’s talent shortage, with the Financial Advice Association Australia (FAAA) reporting adviser numbers have fallen by 48 per cent since 2019.
”The advice industry continues to face challenges due to the widening gap in not only retail but also wholesale advice needs. The Escala Advisory Growth Track is intended to nurture our existing talent and bring in new talent,” she said.
“As a business, we focus on wholesale advice in the ultra-high net worth and family office space and have a strong history of organic staff growth. Building on this success, it’s now important to introduce a clearer, more structured career pathway and framework, and help fill the advice gap in that space.”
Howard also highlighted Escala’s commitment to creating and promoting more opportunities for women, with advice still remaining a heavily male profession despite improvements.
“Research shows that women represent as little as 22% of the industry. With increasingly defined pathways we aim to drive better representation within Escala and the industry overall, as well as offering a diversity of advisors for clients,” she said.
Belinda Jackson, head of people and culture at Escala and Focus Partners Australia, said the program recognises that career progression is built through the accumulation of experience, skills and exposure, rather than job titles alone, acknowledging that career paths are not always linear.
“Successful careers in advice do not look the same for everyone and we wanted to create a framework that reflects that reality. People can move laterally, build technical expertise, or pursue client facing roles depending on their strengths and ambitions,” said Jackson.
“As a business, we’re investing in the future of financial advice and wealth management. The program we’ve introduced enables employees to take greater ownership of their careers while being supported by the business.
We know the industry is facing a decline in advisor numbers, so it’s critical we create clear, attainable pathways for people to build long-term careers, particularly in wholesale advice.”
As part of this launch, Escala will also be introducing a new COI model designed to reward early career professionals for contributing to business growth.
“Under the model, team members who play a role in origination are eligible for a share of the associated revenue, aligning incentives with both individual contribution and firm growth,”
Jackson concluded: “So much learning happens through experience, so providing meaningful exposure to clients and real work early on is critical.
Our role as an employer is to create the environment, support and opportunities that allow people to build confidence and capability over time.”
