Global firm expands into Aussie wealth management

A London-headquartered behavioural finance firm has announced plans to expand into the Australian wealth management sector.

Oxford Risk has hired Bianca Kent as head of client and strategy, to be based in Sydney, as it enters the market.

The firm builds behavioural finance software for use in the wealth management industry.

Kent joins from FE fundinfo and previously worked for Tilney.

“The Australian wealth management industry is undergoing significant change, fuelled by increased reform and regulatory scrutiny,” Oxford Risk head of behavioural finance Greg Davies said.

“Working in some of the most regulated markets we have developed core expertise in behavioural profiling for more accurate assessment of investors’ investment suitability, financial personality and ESG preferences. We use our deep knowledge of investors to map them to investments

that are best suited to them and provide hyper personalised guidance to ensure investors receive the best outcomes.”

Kent added that she sees significant opportunities for the firm to expand in Australia.

“Fuelled by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the Australian wealth and asset management sectors are probably experiencing their greatest period of transition since the introduction of superannuation in the country and the financial services reforms of the early 1990s,” she said.

“We have considerable experience of working with wealth management companies around the world helping them to address a range of growing challenges from customers to regulators and ensure they thrive in their fast-changing environment, so our proposition is particularly suitable for the Australian wealth management sector.”