Adviser Feedback

Q) What has been your best business decision in the past year?

The best business decision this year has been the implementation and launch of our own Master Trust, a superannuation administration vehicle.

Advisers within our network own the master trust and have an equity position in part of the vehicle, as opposed to using a master trust owned by other groups who would then benefit if the master trust was sold.

Our own advisers use the master trust and a number of external dealers have also tapped in.

We approached dealers we were referred to, using the network rather than an advertising strategy because the master trust will only suit and fit certain people.

The target market would be someone who is their own dealer with about two or three advisers, or groups with one or two offices. They are state based type dealers rather than a national who have greater business power.

We launched the master trust about two and half months ago and had an optimistic, realistic and pessimistic target. The master trust has so far exceeded our optimistic expectations with its increased funds under management.

Steve Griffin

Business Support and Development Manager

Australian Financial Services

That's a difficult question because I've made a lot of business decisions this year that I consider to be good. But I would say taking the time to communicate with other staff and members of the team.

This is important in order to get their feedback. A different point of view and getting someone else's input helps in finding out if you are on track.

It also creates a synergy in the team, everyone gets a chance to contribute rather than you believing you are the sole person and that you're actions are the best thing.

When you talk to staff you often find ways to do something better, someone could have something better to do or have a new slant or a different twist on what you are looking at.

Communicating with staff is a catalyst to good business decisions, it furthers the team and helps business productivity.

It lets staff feel like a part of the team and you are also getting the best out of them. At the end of the day you are getting what will prove to be the best decision.

In terms of how we operate, communication is important. It is important to business and important to me.

Ian Chester-Master

Manager

Bernays Brown Investment Services

We have been focusing on recruiting and contracting the best advisers, and that strategy has started to pay dividends.

In the past our team has grown organically, but over the last 18 months we have made a conscientious effort to look for particular advisers who suited our group profile. We used our own resources but also employed a couple of head hunters.

Our group now has between 15 to 20 advisers, and has doubled in numbers during this time of focus. Predominately with established, well known advisers but we have also continued the group's policy of organic growth and have recruited some advisers with less experience.

In line with our recruitment strategy we have also seen a spectacular growth in funds under management. The group now has in excess of $750 million which, given the number of advisers, is pretty remarkable.

Tony Fenning

CEO

Tynan Mackenzie