Financial advice has traditionally been built around two core client segments: those accumulating wealth for retirement, and those managing it in retirement. Yet between these two groups lies a rapidly growing and often overlooked cohort—high-income professionals who are earning well but still feel financially uncertain.
In a conversation with Izzy Tittor, co-founder of Henry Advisory, this segment is explored in depth. Commonly referred to as “HENRYs” (High Earners, Not Rich Yet), these individuals represent a fundamental shift in both client needs and expectations. While they may have strong incomes, they often lack clarity, confidence, and direction when it comes to their long-term financial position.
What emerges is a compelling case for why traditional advice models are failing to engage this group—and how a new, more flexible approach is beginning to take shape.
At the centre of the HENRY concept is a disconnect between income and perception.
Rather than being defined by a specific salary level, HENRY clients are characterised by a mindset. They are individuals who are doing many of the “right” things—earning strong incomes, contributing to superannuation, and making investment decisions—yet still feel as though they are not progressing toward financial security.
This feeling is not tied to a universal benchmark. A high earner in a regional area may have very different financial circumstances to someone in a major city, yet both may experience the same underlying uncertainty.
What matters most is not the absolute level of income, but the lack of clarity around what that income is achieving.
For many, this creates a persistent tension: they are financially successful on paper, but do not feel in control of their future.
A key innovation in Tittor’s approach is the reframing of financial goals.
Rather than beginning with traditional goal-setting—focused on net worth or retirement balances—the process starts with a more personal question: “What makes you feel rich?”
This question shifts the conversation entirely.
Instead of defaulting to abstract financial targets, clients begin to articulate what actually matters to them. This often includes lifestyle-driven priorities such as time with family, flexibility in work, reduced stress, or the ability to take extended breaks.
In practice, this can lead to significantly different outcomes.
In one example, a strategy initially centred on complex investment structures and property accumulation was ultimately replaced with a decision to simplify, sell assets, and take a 12-month sabbatical. The revised approach was not necessarily more financially optimal in a traditional sense, but it was far more aligned with the client’s definition of a fulfilling life.
This highlights a broader shift in advice: success is no longer measured solely by financial growth, but by how well financial decisions support personal wellbeing.
Despite their need for guidance, many HENRY clients are not engaging with financial advisors.
The issue is not a lack of demand, but a misalignment between what is offered and what these clients are looking for.
Several factors contribute to this disconnect.
First, traditional pricing models can feel inaccessible. Ongoing fees may appear unjustified for clients who are still building wealth and may not require constant engagement.
Second, advice often focuses heavily on products and long-term investment strategies, which may not address the immediate concerns of HENRY clients.
Third, these individuals are often influenced by alternative sources of advice, particularly in areas such as property. Mortgage brokers, buyer’s agents, and online communities frequently provide simpler and more compelling narratives, drawing attention away from holistic financial advice.
As a result, many HENRY clients are making significant financial decisions without structured guidance—not because they do not value advice, but because the current model does not resonate with them.
Henry Advisory addresses this gap by shifting the focus from products to strategy.
Rather than prioritising investment structures, the emphasis is placed on high-impact decisions—particularly those related to housing, cash flow, and life timing.
This reflects an important insight: for many younger, high-income clients, the biggest financial risks are not related to investment returns, but to early-life decisions.
Overcommitting to property, mismanaging cash flow during key life stages, or pursuing too many financial strategies simultaneously can have long-term consequences that outweigh incremental gains from optimised portfolios.
By focusing on these decisions, advisors can deliver more meaningful impact.
This approach also recognises that complexity is not always beneficial. In many cases, simplifying financial strategies can lead to better outcomes, both financially and psychologically.
One of the defining characteristics of the HENRY client is exposure to an overwhelming amount of information.
Through social media, online forums, and digital platforms, individuals are constantly presented with new ideas, strategies, and opinions.
Clients often arrive with a long list of competing questions:
Rather than adding to this complexity, the advisor’s role becomes one of filtering and prioritisation.
The value lies in reducing a wide range of options into a clear, focused set of decisions.
This simplification is powerful. It not only improves financial outcomes but also reduces stress and uncertainty, allowing clients to move forward with confidence.
A critical component of the Henry Advisory model is its pricing structure.
Recognising that traditional ongoing fees can act as a barrier, the firm adopts a project-based approach. This includes higher upfront fees for strategy development, combined with lower ongoing “membership-style” fees.
This model aligns pricing with value at the point of highest impact—when major financial decisions are being made.
It also reflects a more flexible relationship between advisor and client. Rather than paying for continuous service regardless of need, clients can engage with advice as required, while still maintaining access to support.
Importantly, this approach reduces the cost of re-engagement. By retaining client data and context, the advisor can provide ongoing value without requiring the process to start from scratch each time.
This creates a more accessible and scalable model for delivering advice to this segment.
Another key insight is the importance of accessibility.
HENRY clients are not always seeking out financial advisors directly. Instead, they are engaging with other professionals—such as mortgage brokers and accountants—or consuming content through digital platforms.
Henry Advisory positions itself within this ecosystem.
By working alongside these channels and leveraging online engagement, the firm meets clients where they already are, rather than expecting them to navigate traditional advice pathways.
This approach also allows for greater reach, particularly among niche groups such as Australian Defence Force members, who may face unique constraints within standard advice models.
From an operational perspective, the business is designed for efficiency.
With a small founding team, roles are clearly defined—one focusing on advice delivery and the other on operations. Technology plays a central role in enabling this model, with tools supporting rapid modelling, streamlined workflows, and efficient client engagement.
This allows the firm to deliver advice quickly, often beginning with an intensive initial session followed by structured strategy development.
The emphasis is not on volume, but on delivering high-impact outcomes efficiently.
Underlying the entire discussion is a broader industry issue: access.
There is a significant gap between the number of people who would benefit from financial advice and those who actually receive it.
HENRY clients represent a clear example of this gap. Despite having the means to engage with advice, many do not, due to pricing, structure, or perceived relevance.
This suggests that the issue is not demand, but delivery.
To address this, advice models must evolve—becoming more flexible, more accessible, and more aligned with the needs of modern clients.
The emergence of HENRY-focused advice reflects a broader shift within the profession.
Rather than focusing solely on optimisation and long-term projections, there is a growing emphasis on practical decision-making, simplicity, and alignment with personal values.
For a generation navigating high incomes, rising costs, and constant information flow, this approach offers something that traditional models often lack: clarity.
Because ultimately, the goal of financial advice is not just to build wealth.
It is to help clients feel like they are making progress toward the life they actually want to live.
And for many HENRY clients, that is where the real value lies.