Dealer groups outsource revenue management
A growing number of practices and dealer groups are outsourcing their revenue management processes as a result of both the industry remuneration debate and the impact of the global financial crisis, according to CommCentral founder and managing director John Brabender.
“Regardless of how a practice or dealer group is remunerated now or in the future, the most important consideration will always be how they receive, manage and disperse their revenue,” Brabender said.
Financial services practices and licensees are entering a new era that requires a greater focus on cost reduction and operational efficiency, he said.
“By outsourcing the non-core business activities, businesses can ... focus their internal resources more effectively and efficiently.”
CommCentral provides dealer group revenue management and distribution services to advisers and referral providers. Brabender said most of the interest in its offerings had come from small to medium-sized practices and boutique dealer groups, with 14 licensees seeking CommCentral’s services this year.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
