27 February 2020 News
I’m sitting in the Adelaide airport post the Principals’ briefing reflecting on the conversations shared during the course of the morning. It’s hard to imagine only a few months ago, the Adelaide community did not exist, nor were we intending to create it. Today, I’m very glad we made a different decision. As Cassandra, Alisa, Craig, Don, Lissy (& their teams) walked in, I immediately felt a connection between them (even though some hadn’t met). I think it was best described by Cassandra when she said ‘we’re one company, there are plenty of clients who need advice, let’s all help each other and get on with it’. The sharing of ideas, experiences and resources happened almost instantly (I’m calling it Madison magic) and the discussion flowed freely, openly and without trepidation. Again, this community didn’t exist a few months ago. Choosing a Licensee in this environment isn’t easy, accepting an adviser equally so. As I left the session, I knew Adelaide is in safe hands with great advisers who will hold themselves and their community (including the team at Head Office) accountable to the values and reputation we set for Madison. As I walked out, Don said: “I’d like to have more of these types of conversations where we discuss ideas and concerns to learn from each other and work things out”. I couldn’t agree more.
I’m looking forward to our upcoming sessions in Sydney & Brisbane to continue the conversation. In addition to our sale process, there is much to discuss.
Sincerely,
Annick
Madison PD Roadshow
We hope to see you at the upcoming PD Roadshow events. CLICK HERE to view the agenda.
Sydney – CLICK HERE to register
BT – Tower Two, 200 Barangaroo Ave, Sydney
Monday 2 March
11.00am – Principals’ briefing
1.15pm – Masterclass
Tuesday 3 March
9am – PD Day
Brisbane – CLICK HERE to register
Christie Spaces – 320 Adelaide Street, Brisbane
Thursday 5 March
11.00am – Principals’ briefing
1.15pm – Masterclass
Friday 6 March
9am – PD Day
Welcome to the Madison Community
Please join us in welcoming the following advisers to the Madison Community.
Craig Muchamore & Don Sampson – i2Wealth
Marylou Cork – Carpenter Barlow
Investment Services Update
CLICK HERE for information on how to submit a product for APL approval.
Insurance Working Group Update
In late 2019, the Australian Prudential Regulation Authority (APRA) announced a significant change to income protection across all insurers. The most significant change is the removal of a monthly benefit guarantee for new policies commencing from March 2020. Please click below for communications from the listed Insurers around the cessation of their DI agreed value contracts.
MLC Life Insurance is updating their technology systems, this will have an impact on how you work with the provider CLICK HERE for more information and HERE to access their resources to assist your practice through this change.
AIA has announced the next steps in its integration with CommInsure Life. CLICK HERE for the announcement.
ASIC Levy 2018-19
The annual ASIC funding levy is due to be paid in March. The levy has increased from last year, due to ASIC’s increasing costs. For Madison, the levy payable is $1,300 per Authorised Representative. Similar to last year, we will deduct this levy over two revenue periods. The first deduction was made in the 17 February pay run, and the second will be processed in the upcoming payrun on 2 March. The ASIC levy does not give rise to GST.
Madison Adviser Portal
The new Adviser Portal has been available via the Madison website since December last year. This portal includes all current advice documentation and policies. ComplianceLogic is no longer accessible. CLICK HERE to read the user guide for the new Adviser Portal.
FASEA Education Requirements
The bill to extend deadlines for the FASEA education requirements, including the exam, has passed the House of Representatives late last week. The bill still needs to pass through the Senate but it’s looking good so far.
Congratulations to all our Advisers who have passed the FASEA Exam. Please remember to email your Statement of Results through to adviserservices@madisonfg.com.au so we can update your records.
CLICK HERE for the 2020 FASEA Exam and enrolment schedule and registration link.
ASIC – Updating your Details
CLICK HERE to read more about keeping your details with ASIC up to date.
News and Events from our Industry
MLC Asset Management is modernising its Retail Product Program. Click below for more information.
Stage 1
Stage 2
IOOF has notified advisers that IOOF will be writing to members regarding advice fees paid out of superannuation and pension accounts. Initially, IOOF will be writing to members who have met the ‘inactive’ criteria. A list of members will be sent out to advisers beforehand to an opportunity for advisers to contact their clients first. Email IOOF for more information.
Xplan Tips
CLICK HERE for a time-saving tip in keeping your client emails up to date in Xplan.
Revenue Services
The next revenue payrun will be processed on 2 March 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
27 February 2020 News
I’m sitting in the Adelaide airport post the Principals’ briefing reflecting on the conversations shared during the course of the morning. It’s hard to imagine only a few months ago, the Adelaide community did not exist, nor were we intending to create it. Today, I’m very glad we made a different decision. As Cassandra, Alisa, Craig, Don, Lissy (& their teams) walked in, I immediately felt a connection between them (even though some hadn’t met). I think it was best described by Cassandra when she said ‘we’re one company, there are plenty of clients who need advice, let’s all help each other and get on with it’. The sharing of ideas, experiences and resources happened almost instantly (I’m calling it Madison magic) and the discussion flowed freely, openly and without trepidation. Again, this community didn’t exist a few months ago. Choosing a Licensee in this environment isn’t easy, accepting an adviser equally so. As I left the session, I knew Adelaide is in safe hands with great advisers who will hold themselves and their community (including the team at Head Office) accountable to the values and reputation we set for Madison. As I walked out, Don said: “I’d like to have more of these types of conversations where we discuss ideas and concerns to learn from each other and work things out”. I couldn’t agree more.
I’m looking forward to our upcoming sessions in Sydney & Brisbane to continue the conversation. In addition to our sale process, there is much to discuss.
Sincerely,
Annick
Madison PD Roadshow
We hope to see you at the upcoming PD Roadshow events. CLICK HERE to view the agenda.
Sydney – CLICK HERE to register
BT – Tower Two, 200 Barangaroo Ave, Sydney
Monday 2 March
11.00am – Principals’ briefing
1.15pm – Masterclass
Tuesday 3 March
9am – PD Day
Brisbane – CLICK HERE to register
Christie Spaces – 320 Adelaide Street, Brisbane
Thursday 5 March
11.00am – Principals’ briefing
1.15pm – Masterclass
Friday 6 March
9am – PD Day
Welcome to the Madison Community
Please join us in welcoming the following advisers to the Madison Community.
Craig Muchamore & Don Sampson – i2Wealth
Marylou Cork – Carpenter Barlow
Investment Services Update
CLICK HERE for information on how to submit a product for APL approval.
Insurance Working Group Update
In late 2019, the Australian Prudential Regulation Authority (APRA) announced a significant change to income protection across all insurers. The most significant change is the removal of a monthly benefit guarantee for new policies commencing from March 2020. Please click below for communications from the listed Insurers around the cessation of their DI agreed value contracts.
MLC Life Insurance is updating their technology systems, this will have an impact on how you work with the provider CLICK HERE for more information and HERE to access their resources to assist your practice through this change.
AIA has announced the next steps in its integration with CommInsure Life. CLICK HERE for the announcement.
ASIC Levy 2018-19
The annual ASIC funding levy is due to be paid in March. The levy has increased from last year, due to ASIC’s increasing costs. For Madison, the levy payable is $1,300 per Authorised Representative. Similar to last year, we will deduct this levy over two revenue periods. The first deduction was made in the 17 February pay run, and the second will be processed in the upcoming payrun on 2 March. The ASIC levy does not give rise to GST.
Madison Adviser Portal
The new Adviser Portal has been available via the Madison website since December last year. This portal includes all current advice documentation and policies. ComplianceLogic is no longer accessible. CLICK HERE to read the user guide for the new Adviser Portal.
FASEA Education Requirements
The bill to extend deadlines for the FASEA education requirements, including the exam, has passed the House of Representatives late last week. The bill still needs to pass through the Senate but it’s looking good so far.
Congratulations to all our Advisers who have passed the FASEA Exam. Please remember to email your Statement of Results through to adviserservices@madisonfg.com.au so we can update your records.
CLICK HERE for the 2020 FASEA Exam and enrolment schedule and registration link.
ASIC – Updating your Details
CLICK HERE to read more about keeping your details with ASIC up to date.
News and Events from our Industry
MLC Asset Management is modernising its Retail Product Program. Click below for more information.
Stage 1
Stage 2
IOOF has notified advisers that IOOF will be writing to members regarding advice fees paid out of superannuation and pension accounts. Initially, IOOF will be writing to members who have met the ‘inactive’ criteria. A list of members will be sent out to advisers beforehand to an opportunity for advisers to contact their clients first. Email IOOF for more information.
Xplan Tips
CLICK HERE for a time-saving tip in keeping your client emails up to date in Xplan.
Revenue Services
The next revenue payrun will be processed on 2 March 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