Madison Update – 23 March
Commercial in confidence
We hope you’re all safe and well.
We continue to have daily conversations about the sale of Madison. Interested parties will put in their bids by Friday. Given the environment, we’re staying close to Bob and the team at PwC to ensure we stay on top of the process to find an appropriate owner for the dealer group.
The Government’s announcements for stricter measures of self-isolation, closing down ‘non-essential’ services across the country, bringing forward school holidays and depending what state you live in, recommending students remain at home has had broad and potentially indeterminable long term implications. Whilst we can’t control the ‘flattening of the curve’, all of us can play a part in slowing down the spread of Covid-19. Keeping informed and sharing information from credible sources such as the Australian Government Department of Health with your clients is one way to provide reassurance.
The All Ordinaries had another difficult trading day. We understand you may be watching this closely and looking for guidance. The Investment Committee met today to discuss other strategies and options to protect the portfolios. A detailed update of the actions we are taking will be provided tomorrow morning. Quilla is also speaking to fund managers about liquidity measures to help support our portfolio decisions.
I understand the announcement of early superannuation release is triggering calls from some of your clients. Jaime has written to Product Providers asking about how they will deal with these and other assistance recommendations. We have also asked providers to share details of any resources or workshops they are facilitating to assist with technical strategies and queries. As these become available, we will publish in our daily update.
We continue to have daily conversations about the sale of Madison. Interested parties will put in their bids by Friday. Given the environment, we’re staying close to Bob and the team at PwC to ensure we stay on top of the process to find an appropriate owner for the dealer group.
Thank you to everyone who continues to call, send emails and texts offering messages of support and encouragement. If we remain calm and work together, we will find a way through this ‘new normal’.
We’re updating the Adviser’s Survival Guide in a Pandemic to include protocols for providing and recording verbal advice. The updated version will be available in tomorrow. In the meantime, CLICK HERE to read more.
Zurich/OnePath is running a series of webinars on running a virtual office specific to the needs of Advisers. Each Q&A style session, co-hosted with virtual office veteran Peita Diamantidis, will cover a different virtual office challenge each week. Starting tomorrow at 12pm these sessions will run every Tuesday at midday for the next three weeks. This week’s focus is on Zoom. CLICK HERE to register.
If anyone in your team (including yourself) needs extra emotional support during this time, remember the FPA and AFA have provided access to a confidential assistance program. I encourage you to talk to trained specialists if you’re having a difficult time.
Please CLICK HERE to register once for the recurring Madison Update webinar held Wednesdays at 11am.
Contact numbers
Head Office 1300 789 575
Jaime 0439 079 786
Kerry 0402 145 480
Dave 0466 710 170
Sincerely,
Annick
0409 706 963
Banter Session
It’s important for your team to stay connected in times like these. Schedule a daily ‘Banter Session’ through a video conferencing tool with no ‘shop talk’ allowed. This gives an opportunity for your team to experience the daily interaction and conversation they are missing from the office.
Madison Update – 23 March
Commercial in confidence
We hope you’re all safe and well.
We continue to have daily conversations about the sale of Madison. Interested parties will put in their bids by Friday. Given the environment, we’re staying close to Bob and the team at PwC to ensure we stay on top of the process to find an appropriate owner for the dealer group.
The Government’s announcements for stricter measures of self-isolation, closing down ‘non-essential’ services across the country, bringing forward school holidays and depending what state you live in, recommending students remain at home has had broad and potentially indeterminable long term implications. Whilst we can’t control the ‘flattening of the curve’, all of us can play a part in slowing down the spread of Covid-19. Keeping informed and sharing information from credible sources such as the Australian Government Department of Health with your clients is one way to provide reassurance.
The All Ordinaries had another difficult trading day. We understand you may be watching this closely and looking for guidance. The Investment Committee met today to discuss other strategies and options to protect the portfolios. A detailed update of the actions we are taking will be provided tomorrow morning. Quilla is also speaking to fund managers about liquidity measures to help support our portfolio decisions.
I understand the announcement of early superannuation release is triggering calls from some of your clients. Jaime has written to Product Providers asking about how they will deal with these and other assistance recommendations. We have also asked providers to share details of any resources or workshops they are facilitating to assist with technical strategies and queries. As these become available, we will publish in our daily update.
We continue to have daily conversations about the sale of Madison. Interested parties will put in their bids by Friday. Given the environment, we’re staying close to Bob and the team at PwC to ensure we stay on top of the process to find an appropriate owner for the dealer group.
Thank you to everyone who continues to call, send emails and texts offering messages of support and encouragement. If we remain calm and work together, we will find a way through this ‘new normal’.
We’re updating the Adviser’s Survival Guide in a Pandemic to include protocols for providing and recording verbal advice. The updated version will be available in tomorrow. In the meantime, CLICK HERE to read more.
Zurich/OnePath is running a series of webinars on running a virtual office specific to the needs of Advisers. Each Q&A style session, co-hosted with virtual office veteran Peita Diamantidis, will cover a different virtual office challenge each week. Starting tomorrow at 12pm these sessions will run every Tuesday at midday for the next three weeks. This week’s focus is on Zoom. CLICK HERE to register.
If anyone in your team (including yourself) needs extra emotional support during this time, remember the FPA and AFA have provided access to a confidential assistance program. I encourage you to talk to trained specialists if you’re having a difficult time.
Please CLICK HERE to register once for the recurring Madison Update webinar held Wednesdays at 11am.
Contact numbers
Head Office 1300 789 575
Jaime 0439 079 786
Kerry 0402 145 480
Dave 0466 710 170
Sincerely,
Annick
0409 706 963
Banter Session
It’s important for your team to stay connected in times like these. Schedule a daily ‘Banter Session’ through a video conferencing tool with no ‘shop talk’ allowed. This gives an opportunity for your team to experience the daily interaction and conversation they are missing from the office.