Note from Annick
As we watch results of ‘The Election’ unfold, it’s fascinating to hear the various positions of contending leaders as they spruik the policies of why they should be the next POTUS. Biden vs Trump is a good metaphor for 2020. It’s a year where globally we are facing a common challenge and yet, the approach is to ‘divide rather than unite’. I’m sure you’ve heard the expression ‘divided we fall, united we stand’ There are moments in life where ‘taking sides’ depletes emotional energy and ends with no winners (ask anyone who supports the Wallabies right now…). 2020 feels like this kind of year for many. This is where being united is important.
Let’s look at the two contenders policy stance on Coronavirus (p.s. I’m not expressing a political view)
If we remove the leaders from the picture and only look at the policy headlines, one perspective appears more adaptable and agile than the other (I’ll let you decide which). One enables the country to learn as information comes to hand, one does not. However, both are equally important. So who’s right? We’ll soon find out…
Why am I sharing this? In recent weeks, we’ve had many conversations with prospective practices considering our community as an option. I’ve previously written, the questions asked of us are not in line with the actual concerns of the Principals, and yet they continue to ask the same questions. They ask because they’re not sure how to express what truly matters for them to feel safe, to find a place where they are heard and can create a long term future.
This is the strength of our community, collectively we care and want the best outcome for all. Sure we have some gaps, but these can be fixed with time and investment . Which brings me to the new service and pricing model. Thank you for joining our webinars, booking in your meetings with Jaime & Sophie and the conversations I’ve had with you throughout the process. The advice/adviser environment is fracturing and we want to be prepared for the opportunities unfolding, to do this – we need to strengthen some of our foundations and reconsider how we compete. We’re acutely aware of the ‘fee frenzy’ (as no doubt you are), and whilst competing on price is fraught with danger (we would say the same to you about your services), it’s also prudent to take a moment and view the landscape once more. To that end we are:
- Pressing pause on the implementation to ensure the resources and tools for each Practice segment are built to provide the right support structure
- Look to pilot the client lead opportunities to determine the best way to scale and deliver quality leads to practices (more on this later)
- Help practices re-evaluate their business models. Based on the conversations we’ve had to date, we understand some practices would like to implement changes to their business models and this may take some time. As always, we’re conscious of minimising disruption to your business and clients.
I will have further discussions with the Rod and the Madison board about how we progress from here. Once we have next steps identified, I’ll share them with the Adviser Working Group for consultation and then communicate to Principals.
Our thanks and appreciation for the candid conversations, the support and objective approach you’ve taken and the continued desire to be ‘united’ to build a community which stands together.
Biden v Trump… no matter the result, one thing is certain we’re in for an entertaining ride!
In This Edition:
| · A note from Annick
· Investment Services Transition |
· Setting up a referral arrangement
· Kaplan professional Study Period 6 · Government Stimulus for self funded retirees |
Note from Annick
As we watch results of ‘The Election’ unfold, it’s fascinating to hear the various positions of contending leaders as they spruik the policies of why they should be the next POTUS. Biden vs Trump is a good metaphor for 2020. It’s a year where globally we are facing a common challenge and yet, the approach is to ‘divide rather than unite’. I’m sure you’ve heard the expression ‘divided we fall, united we stand’ There are moments in life where ‘taking sides’ depletes emotional energy and ends with no winners (ask anyone who supports the Wallabies right now…). 2020 feels like this kind of year for many. This is where being united is important.
Let’s look at the two contenders policy stance on Coronavirus (p.s. I’m not expressing a political view)
If we remove the leaders from the picture and only look at the policy headlines, one perspective appears more adaptable and agile than the other (I’ll let you decide which). One enables the country to learn as information comes to hand, one does not. However, both are equally important. So who’s right? We’ll soon find out…
Why am I sharing this? In recent weeks, we’ve had many conversations with prospective practices considering our community as an option. I’ve previously written, the questions asked of us are not in line with the actual concerns of the Principals, and yet they continue to ask the same questions. They ask because they’re not sure how to express what truly matters for them to feel safe, to find a place where they are heard and can create a long term future.
This is the strength of our community, collectively we care and want the best outcome for all. Sure we have some gaps, but these can be fixed with time and investment . Which brings me to the new service and pricing model. Thank you for joining our webinars, booking in your meetings with Jaime & Sophie and the conversations I’ve had with you throughout the process. The advice/adviser environment is fracturing and we want to be prepared for the opportunities unfolding, to do this – we need to strengthen some of our foundations and reconsider how we compete. We’re acutely aware of the ‘fee frenzy’ (as no doubt you are), and whilst competing on price is fraught with danger (we would say the same to you about your services), it’s also prudent to take a moment and view the landscape once more. To that end we are:
- Pressing pause on the implementation to ensure the resources and tools for each Practice segment are built to provide the right support structure
- Look to pilot the client lead opportunities to determine the best way to scale and deliver quality leads to practices (more on this later)
- Help practices re-evaluate their business models. Based on the conversations we’ve had to date, we understand some practices would like to implement changes to their business models and this may take some time. As always, we’re conscious of minimising disruption to your business and clients.
I will have further discussions with the Rod and the Madison board about how we progress from here. Once we have next steps identified, I’ll share them with the Adviser Working Group for consultation and then communicate to Principals.
Our thanks and appreciation for the candid conversations, the support and objective approach you’ve taken and the continued desire to be ‘united’ to build a community which stands together.
Biden v Trump… no matter the result, one thing is certain we’re in for an entertaining ride!
In This Edition:
| · A note from Annick
· Investment Services Transition |
· Setting up a referral arrangement
· Kaplan professional Study Period 6 · Government Stimulus for self funded retirees |