Spotlight shines on Hewison

It is no coincidence that the new Financial Planning Association chairman is also one of Australia’s top planners. Nicole Szollos explores the new directions John Hewison is taking his business and the FPA.

John Hewison is no stranger to the industry spotlight. Besides being a Money Management Financial Planner of the Year finalist for the second year running, Hewison is a key figure in Victorian financial planning circles and well known for his involvement with the Financial Planning Association (FPA).

Hewison's past and present FPA commitments are numerous. In the past few years he has been a member of the Victorian state council and the Melbourne chapter committee. He is currently chairman of the FPA principal's forum in Victoria and a member of the FPA national disciplinary committee and FPA executive committee, to name just a few.

And after being elected as 2001 FPA chairman in June, Hewison formally took over in his new post from Ray Griffiths at last week's FPA convention in Melbourne.

Hewison spends a couple of days a week on his various FPA responsibilities and says he enjoys the interaction with industry peers and involvement with industry issues.

"I initially got in at that level because I believe that if you don't contribute, then you can't complain about the industry," he says.

Melbourne-based Hewison & Associates, of which Hewison is managing director, has been operating for 15 years and has eight staff and 440 clients including private clients, corporates and holders of self managed superannuation funds. The group has about $100 million in funds under advice.

With a background career in senior corporate mangement and private consulting in the managing and marketing of companies, Hewison easily made the transition into financial planning. With his firm up and running, Hewison obtained his Diploma of Financial Planning (DFP) in 1991 and Certified Financial Planner (CFP) status two years later. Hewison & Associates also received its securities dealer's licence in that same year.

Hewison says it has been an "incredible year" for his financial planning group.

"Demand has been extraordinary and we have been kept busy with continuing referrals. I also sense an increase in public awareness, with more interest off the street, via the FPA and the press," he says.

Hewison & Associates has grown by two in the past 12 months with the addition of a commerce graduate as a trainee planner and an administration staff member. The group's former trainee is now a CFP, so this is the second time around for what Hewison calls his growth and succession plan from within.

"I train them up, put them through the diploma and take them through the entire business, from administration to the various roles of a financial planner," he says.

As managing director, Hewison says he operates his business as a team, holding regular meetings where everybody is involved and can provide input.

The group has also spent time and money enhancing its internal portfolio administration software system. The system was first developed by Hewison in 1989 and additional accompanying software was built four years later by a programming consultant, in response to growth and client demand.

"We have put in a lot of capital and effort in enhancing the software each year to ensure it keeps pace. The arrival of new technology has also increased the level of client service," says Hewison.

The administration system has been touted as the forerunner of today's wrap account software and has aroused interest from others in the industry. Hewison says there is the opportunity to market it as a back office service, however due to the group's financial planning commitments, there has been no move to do so yet.

"There has been a lot of enquiry into the system but we haven't packaged it yet. We can do it, it's not difficult, we just haven't given it priority," he says.

The administration system has also been coded and transferred onto Hewison & Associates' Web site so once the system is offered, planners will be able to access it via the Internet.

The development of the Web site was also a new initiative for the group when launched two years ago. Clients register on the site and have full access to current portfolio information.

The Web site is regularly updated and is under review at the moment. Hewison says he is looking at content and incorporating the group's quarterly newsletter, as well as adding links from other providers to include daily market updates.

Hewison says the real measurement of the sites' success has been the number of clients registering for access to view their portfolio information.

"There is a little over 25 per cent of our clients who are requesting access," he says.

Hewison also offers his financial planning services outside Hewison & Associates. For the past four years he has been voluntarily providing financial advice to members and families of the Schizophrenia Fellowship of Victoria.

"A colleague of mine asked if I would help. The work gives me personal satisfaction and the sense of making a contribution," he says.

Other responsibilities in the community for Hewison include being a founder of Gunnamatta Surf Life Saving Club. Hewison was first a volunteer at Point Leo, another of the local beach areas. He then left with a friend to set up the Gunnamatta club where he was involved for many years and is now a life member.

"Gunnamatta is an extremely dangerous surf beach, with more rescues every year than any other beach in Victoria, and has claimed a number of lives," Hewison says.

Looking at the pinnacle issues of this year, Hewison focuses on education and its place in a quickly growing industry.

"The industry will need to look at its strategic direction and what the introduction of Australian Security and Investment Commission (ASIC) Interim Policy Statement 146 will mean."

The future of compliance and regulation in light of industry trends is also a key area.

"The FPA initiative to introduce a national quality assessment program is the final piece in establishing financial planning as a true profession," he says.

The assessment program has been approved by the FPA board and is in its final stages. It will bring the industry's compliance ideals together and take it one step further to actual practice. Under the program, all FPA principle members will have audit visits once every three years, plus yearly self-assessment of their group via a questionnaire.

"The program is not a policing program but aims to assist and offer guidance. There's no point having standards in the industry unless you can enforce them," Hewison says.