As we turn our minds towards the final two months of the financial year, and the anniversary of the Madison sale; I think we need to take a moment to reflect on how far we’ve come as a community.  Our AFSL is safe, backed by an ASX listed company with a strong balance sheet.  John Abernethy, Founder & Chairman, and the Directors of Clime are committed to supporting advisers with growth opportunities, marketing, and client education.  We have an expert in-house investment team, supported by a global research partner.  We’re investing in more people and resources, working towards a better service experience.  And we haven’t reached our first anniversary yet!  All too often it’s easy to focus on the not so good or hold on to the past.  Given the roller coaster ride we’ve had the last few years, it’s understandable.  Then I hear stories from advisers wanting to join Madison because we’re ‘human’ and we are a community.  At that moment, I’m reminded why I joined Madison in the first place …

There’s significant momentum in the business, with programs of work well underway.  These are the important ones.

1. Service and pricing model for FY22. We’re moving to a flat fee for CARs and ARs (one price) with a recovery model for XPlan, professional indemnity and ASIC levy (the costs we don’t control).  Communication will commence next week, including a transition plan per practice. The team will be in touch with information about timelines and the support process.  The new pricing model is fair. It helps meet the operational costs of running the AFSL, allows us to invest in the services required to meet the new legislative regime (e.g., Fee Consent, DDO, Annual renewal), keeping the community safe and strong. There will be an additional pricing schedule for Practices who require tailored services such as bespoke portfolios, accelerated marketing support, or wish to join our specialist Leadership programs.
2. Xeppo Business dashboard. If you haven’t turned this on yet, please do.  The data and analytics available, provide significant insight across clients, funds under advice, business metric and compliance obligations.  It appears there are still practices who need to map their data to ensure it’s accurate in the system.  If you need help with this, reach out to Megs and she’ll help you solve it, or work with Xeppo to provide additional support.  As we get ‘cleaner’ data, we will use the information to assist with business growth and client engagement strategies per practice.
3. CoreData survey. Thank you to everyone who has completed the survey. The information we receive (good, bad, or ugly!), will inform our priorities at the next Adviser Council meeting.  To be meaningful, we need at least 35 respondents. Thank you to the Council for supporting this initiative.  A reminder the responses are anonymous, and we only receive an aggregated set of results per question.
4. Working with Megs on your XPlan environment. I’m hearing positive feedback from the practices working with Megs.  Many of you are investing in your advice process and maximising the use of our XPlan environment.  Remember to attend Megs’ weekly seminars as well.  The program for the next quarter has been published.
5. Client seminars. The team at i2Wealth in Adelaide have scheduled 3 seminars across two days where John Abernethy is providing a macro economic update, top and tailed by presentations from Craig and Don.  They’ve had a great response from new and existing clients and we’re looking forward to supporting the event.  This service is available to all our practices. Having heard John speak many times, its easy to see why he connects with clients and investors.  He makes the complex simple and entertaining.  I was in Perth last week (and thankfully, Covid free) with some of the Private Wealth clients.  The engagement is high, and they actively participate in the conversation.  If you’re interested in hosting a similar event with your referral network and clients, please let Bethany know.
6. Client referrals. On the agenda with the Adviser Council will be a discussion about referral campaigns, accessing the subscribers within the Clime database.  Educating consumers about wealth, investments, financial markets is foundational to Clime’s DNA.   We’d like to build a program and seminar series to generate client referral opportunities.  We will be supporting the service with marketing and a contact service.
7. Active Reviews. These continue to go well with the Advice Coaches.  Your feedback and suggestions will be used to iterate the program to ensure we provide the support and guidance to help you present the right advice to your clients.

There are more programs of work underway, which will be shared once we’ve discussed them with the Adviser Council mid next May.  The year ahead looks great, and it’s exciting to be able to provide services and support to help our community.

By now you will have heard I’ve been appointed as the CEO of Clime Investment Management.  I’m thrilled to be selected as the new leader of a great business.  Working alongside John Abernethy as Chairman, the Board and our (equally) passionate new(ish) colleagues and peers is an incredible opportunity.  Thank you for all the congratulatory messages, calls, and support since the announcement.  I officially start my role on 1 May and will be immersing myself into the business as quickly as practical.  My new email is adonat@clime.com.au, mobile remains the same, as does my place of work! I won’t be far away.

It gives me great pleasure…

Taking on this role is made much easier because we have a strong Madison team.  Whilst going through the interview process and working in other areas of our company, Jaime and KT have stepped in to run our strategy.  To that end, it gives me great pleasure to share that Jaime will be taking on the role of General Manager, Madison Financial Group. Jaime’s counsel and guidance over the last four years has been invaluable personally, and professionally.  I’m delighted to hand the baton to a person who I respect and admire; knowing she will lead Madison with the same passion and purpose she has always done.  Please join me in congratulating Jaime, and we’ll take the time to celebrate in person when we host the Good Governance workshops.

Over the coming weeks, there will be further announcements regarding our organisation structure and people support.  Good times ahead.

Sincerely,

Annick

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