Why more Australians are seeking out holistic wealth management

Australians are changing the way they grow and protect their wealth. From late 2023 and continuing strongly into mid-2025, there's been a noticeable shift among Australia’s wealthy—moving away from investment-only advice towards holistic wealth management.¹

This growing appetite for comprehensive advice has emerged alongside Australia's expanding ranks of high-net-worth individuals (HNWIs) and business owners.¹ So what’s prompting these groups to turn more and more to comprehensive guidance?

One key factor is that wealth management for these groups is rarely straightforward. In my work, I’ve often seen clients juggling intricate setups designed by accountants and solicitors to maximise tax efficiency and safeguard assets—rather like playing financial Jenga: when you’re working with these types of structures, each move has to be considered carefully, or the entire system might be compromised. That’s what makes the right comprehensive wealth adviser invaluable. We know which blocks to move (and which ones not to) to keep everything stable, secure, and building in the right direction.

Another reason is that a truly comprehensive approach supports you at every stage of life. Early on, it could be about securing finance for a commercial property or staying on top of debt. Later, the focus shifts to diversification, so you’re less reliant on a single business, occupation or income stream. And in the longer run, it’s about identifying investments that fit your long-term wealth objectives. An adviser who offers holistic, ongoing support can help you anticipate challenges, spot new opportunities, and make sure each financial step aligns with your broader plan—so you’re not left facing complex decisions alone.

Take diversification, for example. People tend to invest in what they know best—farmers stick to farmland, builders lean heavily on property, entrepreneurs reinvest in their own ventures. That’s fine in good times, but quickly becomes challenging if things head south for your industry. A holistic plan doesn’t force you to abandon your strengths, but it does help you balance your portfolio with additional opportunities, so you have more of a safety net if your primary source of income experiences a downturn.

Something else I see repeatedly is opportunity cost. Many clients, while highly skilled in their field, simply don’t have the time to manage their wealth effectively. They might leave large sums languishing in the bank for months on end, telling themselves they’ll invest “soon” but never quite getting around to it. That’s where a comprehensive wealth adviser steps in—helping deploy that capital into investments that suit both your current cash flow needs and your long-term aspirations. We say it often at Ulton Wealth: As advisers, our role is to help our clients take the steps that will turn their intentions into achievement.

Of course, no single strategy works for everyone. In my experience, farmers often need robust buffers for unpredictable seasons, while business owners juggle debt, expansion plans, and day-to-day cash flow that can hinder off-business investments. High-net-worth individuals might have structures involving trusts, companies, and self-managed super funds woven together—complexities that demand careful oversight so one move doesn’t undermine another. With a truly holistic approach, we can adapt to these industry-specific nuances while still aiming for the universal goals of growth, tax efficiency, and wealth preservation.

The current economic climate (especially through 2023–25) has rattled even the most seasoned investors, but I’ve found that a balanced, all-encompassing plan helps calm the noise. If your wealth is structured to handle short-term liquidity needs, medium-term growth, and longer-term returns, you’re much less likely to make reactive decisions based on the latest headlines. After all, if your foundation is broad and carefully considered, short-lived volatility doesn’t have to derail your bigger vision.

It’s also why holistic wealth management differs from single-focus advice. While a single-focus solution might lock onto a particular investment product or tax strategy in isolation, a comprehensive approach ties everything together—estate planning, succession strategies, insurance considerations—so you’re better prepared for life’s twists and turns. Some advisers recommend waiting until you’ve accumulated a million dollars of investable assets to justify this level of detail, but in my view, if your business or farm already generates substantial cash, starting earlier can save headaches later on.

Clients often ask me whether active or passive investing is “better.” In truth, both can be useful. Passive vehicles (like index funds) capture broad market returns at lower cost, whereas skilled active managers might outperform benchmarks if they consistently deliver. We generally find that a holistic plan blends the two, assessing where an active manager truly earns their fees—and where a straightforward, low-fee passive option is enough.

Finally, no wealth management conversation is complete without a plan for exit strategies. Sooner or later, most people hope to move from active income—be that a family business, professional role, or working the land—to a passive phase where their money works for them. Timing can be critical: you may need to wait for market conditions to improve, or groom the next generation to take the reins. A comprehensive plan anticipates these factors well in advance, making sure you aren’t cornered into selling prematurely or retiring before you’re ready (or financially able).

Ultimately, holistic wealth management ties all these threads together into a central, considered outlook—rather than leaving you with a scattered patchwork of investments and half-formed ideas. When each move in your financial Jenga tower is made with the entire structure in mind, you can navigate uncertainty with far more confidence.

Sources:

¹ Justin Gilmour. Three defining trends for private wealth in 2025. The Australian, 2024.

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