AFS goes back to the drawing board
Australian Financial Services Group (AFS) is to undergo a major restructure as a strategic measure to ensure the dealer group maintains continued growth, profitability and strength.
AFS chief executive Peter Daly said the group’s intention was to build on its “open architecture infrastructure” by continuing to operate the company from actual practices rather than from behind management desks at head office.
He explained that despite the group’s proven success, a significant opportunity existed to take the profitability of practices and the entire dealership a “quantum leap forward”.
“Although we are delighted with our current profitability and results, we must now focus on the future and harness our momentum to ensure AFS’s continued success and future relevance,” Daly said.
“AFS is determined to positively differentiate itself in the marketplace as a dealer group that is committed to the long-term financial success of its advisers.
“This requires a new innovative approach and we look forward with much excitement to a new and innovative era for AFS and its advisers.”
The first step in the process to refocus and strategically position the dealer group is the appointment of Dani Peer as head of strategic development.
In the newly created role, Peer will work with the management team to identify strategic goals, processes and solutions intended to significantly improve the profitability, efficiency and long-term financial viability of AFS practices and advisers.
AFS plans to develop a variety of initiatives that will assist advisers to promote and market their practices and services, increase profitability and administrative efficiency, enhance client service and retention, as well as facilitate practice growth and recruiting opportunities.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
