In the last Madison News, Annick shared some insights (and highlights) from the conversations she had with practice Principals in the weeks prior. This also included the McKinsey article, and a number of principles which may help you shape your business planning.

If you haven’t already taken the time to write down your business aspirations for this financial year (and beyond), as well as reflect on the year that’s been, we encourage you to carve out the time in the coming week to do so. For those of you with team members, sharing your business goals with them, particularly if you are all working remotely, will provide the team with clarity on where to focus efforts and energy.

Our team has also started taking the time to self-reflect and plan for the year ahead. We are having discussions about Madison as a business but also about each of us an individuals. Annick and Rod will be sharing the business discussion with Practice Principals during the Good Governance Summit next month.

Part of what makes our community is the desire to share and encourage each other. This week, Joe Burke from Austcover Financial Services forwarded an article from David Williams (CLICK HERE), that struck a chord with him. Joe felt this may also be the case for many of you.

As a team, we are looking forward to spending more time with you all, particularly Jaime and Sophie (focussing on your business) and Greg and Kerry Fleming (supporting you with your advice processes).
We hope you, your teams, and your families all remain safe and well during this ever-changing time we find ourselves living in.

Sincerely,
Jaime and Kerry

 

Transition Update

We’re approaching the end of the transition timeline. As per our updates earlier this week, all advice documents on Xplan and our Adviser Portal have been updated with the new disclosures and Madison’s new address. If you haven’t yet submitted your FSG for approval, our CANVA user guide contains a step by step guide of the process. If you have any questions regarding your FSG, please email the Governance team.

As a reminder, if you provide your FSG on your practice website, please ensure it has been updated with the new version. Any documentation where you have included Madison’s street address must also be updated to reflect our new address – Level 12, 20 Hunter Street, Sydney, NSW, 2000 (and submitted to the Governance team via email or CANVA for approval prior to issue).

In the Adviser Portal we have created the Madison Transition Plan. We’ve included a timeline with calls to action and an FAQ.

 

Canva – How to guide

CLICK HERE to access the ‘How to’ guide for reviewing your FSG in Canva. You can also use Canva to access other templates such as letterhead, business cards, ‘with compliments’ slips along with social media banners and flyers.

 

Madison Investment Market Update

Please see this weeks Madison Investment and Insurance Committee update dated 17 July.

PDF Version

Word Version

 

Three- month CPD relief for Advisers – FAQ

Further to the announcement from FASEA last month on the 3 month extention for CPD, FASEA have released an FAQ document to assist advisers in understanding the extention. Please CLICK HERE to read.

 

FASEA News

CLICK HERE to read the latest on the FASEA exam extention and tips for sitting the exam.

Please remember to email your Statement of Results through to adviserservices@madisonfg.com.au so we can update your records on ASIC.

 

News and Events from our Industry

Netwealth have released a special report. It can be a daunting task for a company to consider where to begin when it comes to defining true innovation. Although many people seem to think of it as bringing new technology to market, it’s not just about developing a shiny, new piece of technology. Innovation as a concept spans much further. In Netwealth’s latest special report, explore the ’10 types of innovation framework’, with respect to financial advice and discover the many different types of innovation and how they apply to your business: including revenue, structure, process and brand innovation. CLICK HERE to read the report.

Zurich/OnePath have developed _Zone an online education program, designed to guide you through the professional development you need as an adviser to meet the challenges of today and tomorrow. CLICK HERE to check out what is available.

OnePath Clarity Engage houses tools and white-labelled materials that advisers can use in their discussions with clients about the importance of insurance. This material includes customisable templates for flyers, newsletters and social media posts and the content covers five key areas:

1. The value of advice and insurance
2. Understanding premiums
3. Building confidence in claims
4. Reviewing your cover
5. Wading through complexity

 

Adviser Guide to Surviving in a Pandemic

CLICK HERE to read through the latest version of our guide to getting through the COVID-19 pandemic.

 

ASIC Updates

Please CLICK HERE to review the data ASIC is required to be updated on.

 

Revenue Services
The next revenue payrun will be processed on 3 August 2020.
OPEX has written handy guides for Madison users, available through Zen desk and the below links.

CommPay Reporting
Lodging and receipting an invoice.
Invoice Tracking Template
Xplan Navigation
Power BI webinar recording
Setting up referral arrangements in CommPay

CommPay and revenue queries – ATTN: Brokerage
support@opexconsulting.com.au

 

Discount Codes
FPA – When enrolling in any CFP unit let them know Madison is your licensee for a 10% discount.

Kaplan – PC-RID159

The promotional code for postgraduate study to meet FASEA requirements has been updated to MADFIMFP20. Make sure you enter this code to get the new pricing of $1,600 per subject.

 

Helpful Information

We have updated our contact list to include our new email addresses.

Madison Contact List.

FASEA Website