Dashboard » News » November 20 News

November 20 News

This week I’ve had many conversations about business efficiency, client engagement and planning for 2020.  These are always good conversations because I get to hear firsthand what’s important to you and why.  There are so many interesting aspirations in our community.  Principals and advisers are thinking about the future, looking for better ways to do things and seeking out more information on how to build a growing sustainable business model.

Conversations such as these, help us (Madison head office), think about priorities and plan for any additional services and/or technology development to support your business. Yesterday we launched Captegra as part of our internal processes. We’ll be using this system to ensure we accelerate and automate several of our processes. The first priorities are onboarding advisers and managing file reviews in a more efficient and consistent way.  The goal is to reduce service gaps and ensure we can keep track of the important milestones in these processes. In addition to our requirements, we will be providing this service to help support your business with client engagement tools and business planning resources.

Our Advice Process working group convenes this week and will be focussing on all aspects of the review process. This will include advice documents, tools and workflow via Xplan. Our thanks to the members of the community who volunteer their time and expertise to ensure we create something relevant and scalable.

Our working groups are integral to our strategic development and we all benefit from the experience and wisdom.  The insurance working group is an exceptional example of this.  Recently Troy Edmondson sent an email discussing the imbalance between Life Insurer sales strategies and providing insurance advice to clients.  There are a number of insurers offering significant discounts for first-year premiums as a short-term incentive to clients without thinking through the longer-term implications. I think Liz Hughes referred to it as “sticker shock”. After several email conversations between the group, the decision was made to meet with the insurer and discuss the implications for clients and advisers. As we move into the Code of Ethics environment, conduct and decisions such as these will demonstrate the importance of receiving advice from quality advisers. We’ll keep you updated as the conversations unfold.

James Riley joined our team this week.  He has extensive experience in advice software, adviser transitions and business analytics.  His role is to support our practices in maximising the efficiency of Xplan and other technology tools.  He’s currently getting up to speed with our technology suite and no doubt you’ll hear more from him as he becomes familiar with our business.

Sophie Firminger and I will be at the FPA Conference next week. If any of you are attending, please let us know and we’ll organise a catch up at the event. Look out for the invitation to our Christmas celebrations across the states. We’re looking forward to saying thank you for your support during 2019.

Enjoy reading Madison News.  As always, your feedback and ideas are welcome.

Regards,

Annick

 

Key news items

End of Year Celebrations

There has been a change in the dates for the Madison End of Year Celebrations;

Adelaide – 4 December, 5pm
Melbourne – 5 December, 12pm
Brisbane – 10 December, 5pm
Sydney – 13 December 5pm

Keep an eye out for more info this week!

Enrol Today!

Start your Education Pathway and enrol now to access the $1,500 rate before the price increase. CLICK HERE for more information.

Revex Access

Please be aware that access to the old processing system, Revex, will cease from 15 December 2019. Please ensure that you pull out any reporting you need from Revex prior to the above date. Contact Adviser Services if you have any questions.

James Riley

Please be aware that access to the old processing system, Revex, will cease from 15 December 2019. Please ensure that you pull out any reporting you need from Revex prior to the above date. Contact Adviser Services if you have any questions.

FASEA Code of Ethics

The Code of Ethics Guidance consultation briefing sessions will take place shortly. Email your questions to the Advice and Governance Team so we can rise them directly with FASEA.

Revenue Services

The next revenue payrun will be processed on 2 December.
The late December revenue payrun will be processed on 3 January.

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
[email protected]

Go Back
Dashboard » News » November 20 News

November 20 News

This week I’ve had many conversations about business efficiency, client engagement and planning for 2020.  These are always good conversations because I get to hear firsthand what’s important to you and why.  There are so many interesting aspirations in our community.  Principals and advisers are thinking about the future, looking for better ways to do things and seeking out more information on how to build a growing sustainable business model.

Conversations such as these, help us (Madison head office), think about priorities and plan for any additional services and/or technology development to support your business. Yesterday we launched Captegra as part of our internal processes. We’ll be using this system to ensure we accelerate and automate several of our processes. The first priorities are onboarding advisers and managing file reviews in a more efficient and consistent way.  The goal is to reduce service gaps and ensure we can keep track of the important milestones in these processes. In addition to our requirements, we will be providing this service to help support your business with client engagement tools and business planning resources.

Our Advice Process working group convenes this week and will be focussing on all aspects of the review process. This will include advice documents, tools and workflow via Xplan. Our thanks to the members of the community who volunteer their time and expertise to ensure we create something relevant and scalable.

Our working groups are integral to our strategic development and we all benefit from the experience and wisdom.  The insurance working group is an exceptional example of this.  Recently Troy Edmondson sent an email discussing the imbalance between Life Insurer sales strategies and providing insurance advice to clients.  There are a number of insurers offering significant discounts for first-year premiums as a short-term incentive to clients without thinking through the longer-term implications. I think Liz Hughes referred to it as “sticker shock”. After several email conversations between the group, the decision was made to meet with the insurer and discuss the implications for clients and advisers. As we move into the Code of Ethics environment, conduct and decisions such as these will demonstrate the importance of receiving advice from quality advisers. We’ll keep you updated as the conversations unfold.

James Riley joined our team this week.  He has extensive experience in advice software, adviser transitions and business analytics.  His role is to support our practices in maximising the efficiency of Xplan and other technology tools.  He’s currently getting up to speed with our technology suite and no doubt you’ll hear more from him as he becomes familiar with our business.

Sophie Firminger and I will be at the FPA Conference next week. If any of you are attending, please let us know and we’ll organise a catch up at the event. Look out for the invitation to our Christmas celebrations across the states. We’re looking forward to saying thank you for your support during 2019.

Enjoy reading Madison News.  As always, your feedback and ideas are welcome.

Regards,

Annick

 

Key news items

End of Year Celebrations

There has been a change in the dates for the Madison End of Year Celebrations;

Adelaide – 4 December, 5pm
Melbourne – 5 December, 12pm
Brisbane – 10 December, 5pm
Sydney – 13 December 5pm

Keep an eye out for more info this week!

Enrol Today!

Start your Education Pathway and enrol now to access the $1,500 rate before the price increase. CLICK HERE for more information.

Revex Access

Please be aware that access to the old processing system, Revex, will cease from 15 December 2019. Please ensure that you pull out any reporting you need from Revex prior to the above date. Contact Adviser Services if you have any questions.

James Riley

Please be aware that access to the old processing system, Revex, will cease from 15 December 2019. Please ensure that you pull out any reporting you need from Revex prior to the above date. Contact Adviser Services if you have any questions.

FASEA Code of Ethics

The Code of Ethics Guidance consultation briefing sessions will take place shortly. Email your questions to the Advice and Governance Team so we can rise them directly with FASEA.

Revenue Services

The next revenue payrun will be processed on 2 December.
The late December revenue payrun will be processed on 3 January.

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
[email protected]

Go Back