Ensombl (formerly XY Adviser) is an international social networking service that offers education and continuing professional development (CPD) for financial professionals. As of 2023, it hosts approximately 10,000 members.
Overview
Ensombl is an Australian private company founded in Sydney, Australia in 2014. It operates a web and mobile platform that provides social networking features, educational content, podcasts, events, and a Q&A forum for financial advisers. The platform is used most heavily in Australia, and the company opened a second headquarters in Cape Town, South Africa in 2023.
History
Founding (2014)
Ensombl was founded by Clayton Daniel, Ben Nash, Ray Jaramis, and Adrian Patty. It began as a LinkedIn group called XY Adviser, where financial advisers could share and learn from one another. The original name "XY Adviser" was based on the concept of connecting Generation X and Generation Y professionals.
Operating as XY Adviser (2014–2022)
In 2020, the company raised $400,000 on the crowdfunding platform Birchal to fund development of an independent platform. By 2019, the community had grown to 3,500 members and was running 12 annual events. In January 2020, it was nominated for the Sydney City Business Awards, and in September 2021 it was named a finalist for "Excellence in Innovation." During this period, the company began expanding into South Africa and Southeast Asia.
In June 2022, Ensombl worked with Hub24 to co-produce the documentary Solving Wealth's Greatest Challenge. In October 2022, it partnered with CFS to build the Professional Year Hub on the Elevate platform.
Renaming to Ensombl (2022–present)
In November 2022, XY Adviser was renamed Ensombl. In August 2023, the company announced plans to raise $3 million in Series A funding. Craig Keary, former CEO of Ignition Advice, joined as non-executive chair in July 2023. The company officially launched in Cape Town, South Africa in September 2023.
Platform
Ensombl provides free membership and generates revenue by helping companies optimize products for financial advisers. The platform features:
- Social networking and Q&A forums for financial professionals
- CPD (Continuing Professional Development) content and tracking
- Podcasts sharing best practices
- Events including Retirement XChanges, Labs, and All Licensee PD Days
- Articles and research on industry issues
- Talent Hub connecting candidates with companies
- "What Advisers Want" survey research
As of 2023, the platform had over 8,000 financial advice professionals, with an average member age of approximately 42 years, and women making up about one-third of the membership. The company does not sell user data as part of its advertising revenue model.
