Companies

Advice Lab forges strategic alliance with Rhombus Advisory

Advice Lab, a reputed BPO that provides paraplanning and administrative services to Australian financial planners, has secured a strategic investment from Rhombus Advisory, one of Australia’s leading professional services groups.

This initiative marks a major milestone in Advice Lab’s growth journey and highlights the strength of its operations across Sri Lanka and the Philippines.

The minority investment by Rhombus Advisory is notable as it signifies a strong endorsement of Advice Lab’s quality, culture and performance. The partnership will create synergies and open up many opportunities. It will strengthen Advice Lab’s exposure to the Australian financial planning industry and create new revenue streams while generating more jobs in Sri Lanka and the Philippines. It will also facilitate an investment into technology.

Moreover, the partnership will enhance brand credibility and open new growth channels across the Australian financial services market. It will also provide long-term stability and reinforce Advice Lab’s position as a leader in financial services outsourcing. In addition, it will support the continued expansion of its delivery centres in Colombo and Manila.

Advice Lab will continue to operate independently under the leadership of Managing Director Prad Navaratnam. He will remain responsible for the strategic direction and all day-to-day operations. Rhombus Advisory will appoint Chief Strategy and Operations Officer Leanne Gregory-Aylett, to hold a seat on Advice Lab’s Board of Directors, working collaboratively with Prad to drive long-term growth initiatives.

“Rhombus Advisory’s decision to invest in Advice Lab is a powerful endorsement of the quality of our people and the reputation we’ve built,” said Prad. He added that the partnership delivers the platform and resources to drive Advice Lab to even greater heights.

Rhombus Advisory CEO Darren Whereat said: “We deeply value the expertise and dedication Advice Lab brings to our adviser network. Their contributions drive our collective success, and we look forward to exploring new opportunities together.”

He further stated that Rhombus Advisory has built a reputation as one of Australia’s leading financial advisory firms with a strong national footprint. “This partnership reinforces our commitment to delivering trusted, high-quality solutions for advisers and their clients,” he added.

Importantly, the collaboration does not limit Advice Lab’s ability to work with other licensees or financial planning practices. The company remains committed to serving a diverse client base across the Australian financial advice industry.