Hospitality-driven marketing tactics have re-emerged in Australia’s financial advice sector, raising questions about the effectiveness of regulations intended to end conflicted advice. Despite laws established more than ten years ago to limit adviser inducements, product providers are spending substantial sums on lavish events and perks aimed at securing access to financial advisers.

A firm called The Inside Network acts as an intermediary between fund managers and advisers, organizing events and networking opportunities in exchange for significant fees. Fund managers can pay between AUD 15,000 and AUD 60,000 for the chance to present at gatherings focused on investment themes such as alternatives, equities, income, and economic outlooks. These events typically draw large numbers of advisers assembled by The Inside Network.

Several prominent fund managers have participated in these events, including Australian Ethical, Cooper Investors, Alphinity Investment Management, Martin Currie, Charter Hall, MLC Asset Management, and Perennial Partners. Beyond the event circuit, The Inside Network offers access to a database of over 15,000 financial advisers nationwide for AUD 20,000, effectively covering nearly the entire financial advisory population in Australia.

Additional marketing options include sales of lists containing "institutional key people" from major Australian funds for AUD 7,500. For fund managers with larger marketing budgets, packages priced at AUD 200,000 provide a comprehensive campaign featuring premium speaking slots at multiple major events and exclusive roundtable dinners—called "InnerCircles"—where advisers are entertained free of charge.

The InnerCircle sessions allow fund managers to offer gifts, although these come at an additional cost. The firm’s promotional materials emphasize the benefits for fund managers in cutting through communication clutter and fostering critical relationships with advisers. For nearly AUD 90,000, a fund manager can host four such roundtables annually, each gathering ten advisers. Reduced fee options allow fund managers to bring their own guests and benefit from media exposure through write-ups and filmed interviews distributed by The Inside Network.

To broaden adviser engagement, The Inside Network operates the "Insiders" membership group, which charges financial advisers an annual fee of AUD 900 for discounted or free access to various events. These educational forums often feature supplementary recreational activities such as river cruises, golf days, and sporting events. Some fund managers contribute substantial sums for branding and partnership, with Colonial First State reportedly committing AUD 1 million over three years as a foundation partner of Insiders, separate from its own social events attended by advisers.

Other contributors to the Insiders community include research firm SQM Research, asset consultant Atchison, investment platform KeyInvest, compliance firms KitLegal and Caddie, and fintech company Levera, among others. Notably, Atchison and Capital Outcomes—both partners in the community—are sister companies to The Inside Network itself.

While these arrangements remain legal, they underscore ongoing tensions in balancing adviser inducements and regulatory efforts to prevent conflicts of interest in financial advice. The Inside Network’s facilitation of lavish hospitality and the widespread sale of adviser access highlight a lucrative ecosystem that some observers argue may blur the lines between genuine education and marketing influence.