July 12 News
As we commence a new financial year, we are bearing witness to the financial services industry navigating the ‘perfect storm’ of change. There is an increasing move to ‘privately owned’ AFSLs as institutions divest their financial advice businesses. Approximately 55% of registered advisers sit within the privately-owned segment. The remaining 45% sit across the ‘Big Six’ institutions seeking clear direction and heavily involved in remediation programs. As you may expect, we’ve received many calls about joining the Madison community. Whilst we will consider every opportunity, we will remain diligent about who joins. Protecting you and your clients remains our priority.
By the time you read this, I will have presented the Madison FY20 Business Plan to the Board. I hope to be in a position to share the core strategy with the Principals at the upcoming briefings. I’m excited about what’s possible with our community. We have the support of Sargon for Group Risk and Compliance, Technology and other shared services which are foundations for our growth strategy.
Closer to home, I know the transition to CommPay has been challenging and there has been a lot to learn. We are continuing to capture your questions, address any needs and provide additional training. Please read the weekly communications, do the training and keep the questions coming. The integration of CommPay into our Xplan environment will help with the efficiency of FDS production and quality business reporting once settled into our operating rhythm. Thank you to those who have taken the time to provide feedback and questions as we transition.
Our team is growing! We’re very excited to welcome Sophie Firminger who joined 8 July as National Practice Manager, CLICK HERE to read more about Sophie. We have another team member joining the Advice and Governance team later this month. We look forward to introducing him in due course.
In this edition, you’ll see an invitation from BT to attend a FASEA practice exam. I encourage you to register (CLICK HERE), more practice is always helpful. Exam preparation is the core component of our Good Governance Summit. If you haven’t registered and are able to attend, please register.
I hope your start to FY20 has gone well. As we continue to see structural change in our industry, we’ll be working behind the scenes to ensure our community is well placed for continued growth and success.
Regards,
Annick
Key news items
News & Events from the Industry
OnePath is launching the Apex Lunch & Learn webinars for advisers, CLICK HERE to register.
Asteron Life closed to new business, CLICK HERE to read the announcement from TAL.
Platform Review Update
CLICK HERE for the latest update from the Platform review, for the Praemium offering including, contact sheet and Madison pricing.
Advice Coaching
For more information about advice coaching CLICK HERE
File Review Program
CLICK HERE for an overview of the 2020 file review program.
July 12 News
As we commence a new financial year, we are bearing witness to the financial services industry navigating the ‘perfect storm’ of change. There is an increasing move to ‘privately owned’ AFSLs as institutions divest their financial advice businesses. Approximately 55% of registered advisers sit within the privately-owned segment. The remaining 45% sit across the ‘Big Six’ institutions seeking clear direction and heavily involved in remediation programs. As you may expect, we’ve received many calls about joining the Madison community. Whilst we will consider every opportunity, we will remain diligent about who joins. Protecting you and your clients remains our priority.
By the time you read this, I will have presented the Madison FY20 Business Plan to the Board. I hope to be in a position to share the core strategy with the Principals at the upcoming briefings. I’m excited about what’s possible with our community. We have the support of Sargon for Group Risk and Compliance, Technology and other shared services which are foundations for our growth strategy.
Closer to home, I know the transition to CommPay has been challenging and there has been a lot to learn. We are continuing to capture your questions, address any needs and provide additional training. Please read the weekly communications, do the training and keep the questions coming. The integration of CommPay into our Xplan environment will help with the efficiency of FDS production and quality business reporting once settled into our operating rhythm. Thank you to those who have taken the time to provide feedback and questions as we transition.
Our team is growing! We’re very excited to welcome Sophie Firminger who joined 8 July as National Practice Manager, CLICK HERE to read more about Sophie. We have another team member joining the Advice and Governance team later this month. We look forward to introducing him in due course.
In this edition, you’ll see an invitation from BT to attend a FASEA practice exam. I encourage you to register (CLICK HERE), more practice is always helpful. Exam preparation is the core component of our Good Governance Summit. If you haven’t registered and are able to attend, please register.
I hope your start to FY20 has gone well. As we continue to see structural change in our industry, we’ll be working behind the scenes to ensure our community is well placed for continued growth and success.
Regards,
Annick
Key news items
News & Events from the Industry
OnePath is launching the Apex Lunch & Learn webinars for advisers, CLICK HERE to register.
Asteron Life closed to new business, CLICK HERE to read the announcement from TAL.
Platform Review Update
CLICK HERE for the latest update from the Platform review, for the Praemium offering including, contact sheet and Madison pricing.
Advice Coaching
For more information about advice coaching CLICK HERE
File Review Program
CLICK HERE for an overview of the 2020 file review program.