Home / People / ‘Pat the dogs’: Vale Ian Murdoch, an adviser with heart

Ian was a mentor to many financial advisers, and I was one of them. He offered guidance, wisdom and an unwavering commitment to ethical practice. Long after he is gone, Ian's influence will be felt.

It is with a heavy heart that I write in honour of a stalwart of the financial planning industry. My first mentor, and a man whose influence shaped many of us into the professionals we are today. Ian Murdoch, a quiet giant who dedicated his life to bettering our industry, has passed away.

Ian taught me that financial advice isn’t merely about net returns. It’s about the support, the strategy, the thinking behind tough decisions, the next generation, and the love of long-term client relationships.

Drew and I founded The Inside Network with a mission to elevate our industry from a cottage operation to a more professional realm. We’ve made strides, but it is the men and women who have been quietly practicing financial planning for years, without seeking awards or board nominations, who are the true heroes. They ensure their clients are well-served and cared for, day in and day out, despite growing pressures both internal and external.

“Ian’s impact extended beyond his clients to the broader community. He was a mentor to many, offering guidance, wisdom and an unwavering commitment to ethical practices.“

Both Drew and I had the privilege of working under Ian when we were just starting our careers. His words still resonate with us: “Prudent strategy leads to great outcomes. Pat the dogs. Touch any of our clients’ money and I will cut your hands off.” He didn’t teach us through whiteboards and mentoring sessions but by demonstrating how it was done, showing respect to each client regardless of their wealth, and writing comprehensive file notes for every meeting.

Ian was committed to unbiased advice. It was a testament to his integrity. Classically trained and having started his career as a PWC auditor before joining forces with his then-famous father-in-law, Austin Donnelly, Ian carved his own path, always providing prudent advice.

Ian’s approach to financial planning was not just about managing wealth; it was about nurturing trust and building lasting relationships. He believed in the power of a personal touch, a handshake, and a genuine interest in his clients’ lives. His philosophy was simple yet profound: understand the person behind the portfolio. This approach not only garnered him respect but also loyalty that spanned decades.

One of Ian’s most significant lessons was the importance of a comprehensive and personalised strategy. He often said, “It’s not about the money, it’s about the journey.” He championed the idea that every financial plan should be as unique as the individual it was designed for. This mindset is something we at The Inside Network encourage all practices to do, and what we at Wattle Partners try to emulate every day.

Ian was a proponent of setting a strategic asset allocation and adhering to it, allowing for a range that acknowledges market fluctuations. He would advise taking profits gradually during market rallies and carefully assessing when any single holding became overweight in a portfolio. His pragmatic approach to rebalancing ensured that his clients’ investments remained aligned with their financial goals and risk tolerance.

Ian’s impact extended beyond his clients to the broader community. He was a mentor to many, offering guidance, wisdom and an unwavering commitment to ethical practices. His legacy is visible in the countless professionals who carry forward his values of integrity, diligence, and compassion in their own practices.

As we remember Ian, we also celebrate the unsung heroes of our industry those who, like Ian, work tirelessly behind the scenes, ensuring their clients are not just financially secure but also supported and understood. These are the advisers who define the true spirit of our profession.

Ian lived by the motto of F-U-N. Sadly, he didn’t have a long retirement, but he had a very fun one that we all can learn from. After being diagnosed with Parkinson’s, Ian chose to embrace every moment and lived a remarkable golden retirement. His life, both professional and personal, is a testament to the impact one dedicated individual can have on an entire industry.

Ian Murdoch was a remarkable man; he was before his time and stood for excellence in the financial planning world. His legacy will continue to inspire us to strive for the highest standards in our work.

Rest in peace, Ian. Your influence will be felt for generations to come.