The Council of Australian Life Insurers (CALI) is reshaping its ReCALIbrate program for 2026, moving from a model centred on conference grants to a broader leadership program as Australia continues to contend with a sharply reduced financial advice workforce.
Ten places will be available this year—which is twice the number offered in 2025—but the expansion is not simply a doubling of financial support.
Last year's ReCALIbrate program offered five $2,000 grants to women working in financial risk advice, providing $10,000 in total funding towards attendance at the Financial Advice Association Australia (FAAA) Congress.
For 2026, two women working in financial risk advice will receive $2,000 Congress grants, reducing the direct grant pool to $4,000. Another eight women working across life insurance will instead receive places in a year-long professional development program.
The change broadens ReCALIbrate beyond conference attendance at a time when the advice sector is trying to rebuild its talent pipeline.
Australia had 15,127 financial advisers as of 12 March 2026, down almost 48% from nearly 29,000 at the start of 2019, FAAA figures show. Only 464 current advisers entered the profession during 2025.
At the same time, Investment Trends' 2025 Financial Advice Report estimated that 15.9 million Australians had unmet advice needs, with 1.3 million planning to see an adviser within two years.
The supply constraint has particular implications for life insurance distribution. Research released in 2025 found 82% of advisers expected life insurance to become a larger part of their business over the following five years.
CALI chief executive Christine Cupitt said the expanded program was intended to give more women access to development opportunities within the sector.
“By doubling and expanding ReCALIbrate in 2026, we are giving twice as many women across our industry the opportunity to build their skills, strengthen their networks, and advance their careers,” Cupitt said.
The workforce issue is also unfolding alongside changes to how financial advice could be delivered.
In August, the federal government said it would proceed with a new class of adviser initially restricted to APRA-regulated superannuation funds and life insurers.
The model will include safeguards prohibiting commissions, bonuses and volume-based payments, and the government plans to review its scope after three years. Assistant Treasurer and Financial Services Minister Daniel Mulino said the reform was intended to allow those sectors to provide targeted guidance without encroaching on the more comprehensive advice delivered by financial advisers.
That change puts greater emphasis on the industry's ability to attract and develop people across different forms of advice delivery, rather than relying solely on growth in the existing adviser population.
For ReCALIbrate, the two Congress grants can be used towards registration, travel, accommodation, childcare and other costs associated with attending the event. The 2026 FAAA Congress will be held in Melbourne from 24 to 26 November under the theme Explore.
“Congress is a fantastic opportunity to share new ideas that shape the future of risk advice. We are excited to welcome our ReCALIbrate participants again this year and help them explore what is possible for them, their clients, and the advice profession,” FAAA chief executive Sarah Abood said.
The remaining eight participants will join the ReCALIbrate Women in Life Insurance Program, which includes a 12-month membership to Future Women's Platinum+ Emerging Leaders program. The program provides career planning, masterclasses, group mentoring, peer learning and networking, alongside access to industry events.
Future Women founder and managing director Helen McCabe said the program was designed to turn professional development into greater career participation and influence.
“Your future is shaped by the opportunities you can see and the support you have to seize them. ReCALIbrate combines practical development, mentoring, and an ambitious peer network to help women turn capability into influence. These women will not wait for the future of their industry to be decided. They will help shape it,” McCabe said.
Applications for both ReCALIbrate pathways close on 27 September, with recipients due to be announced in early October.
