Sun, surf, food and wine - it's conference time
With all the controversy over soft dollar commissions that has been floating around the industry in recent times, many financial planners can be forgiven for being a tad coy about their dealer conferences.
With all the controversy over soft dollar commissions that has been floating around the industry in recent times, many financial planners can be forgiven for being a tad coy about their dealer conferences.
However, planners paying their yearly fees to dealer groups need to get their mon-eys worth somehow and so, in the spirit of fair play, we here at Money Manage-ment would like to give planners the run down on what others in the industry are offering their broods.
So - is the grass greener on the other side of the fence?
Of course, this depends on whether you need a visa to get to your conference (of the travelling kind, as opposed to the plastic kind). Those lucky enough to dust off the boots in Dubai, for example, should be more than happy with their lot. As should those donning their Speedos in Hawaii (and in sunny April, to boot). Bud-ding Jimmy Stewarts (or Kim Novaks for that matter) should by buoyed by their San Franciscan stint away from the June winter blues. According to this survey, it has been confirmed that eight of the 100 listed planner groups will be sitting for passport photos next year.
Not all planners are hobnobbing with exotic folk in foreign places, however. Our Top 100 survey reveals that 33 dealer groups are boosting the sales of local vine-yards (and clearing whole acres of grapes) in lieu of an overseas sojourn. So some planners will be spending their hard-earned time networking in Terrigal and Wol-longong and some lucky devils are even getting prepared for some serious action in our good old glamour town Sydney (in fact, many are still waiting for taxis from last year’s conference).
It must be said, though, that going somewhere is better than going nowhere. And this is exactly what is happening to planners from 14 of the dealer groups in the listing, who will let their suitcases gather even more dust in the new millennium.
Even more intriguing is the mystery destination scenario. About a third of dealer groups (29, to be precise) in the Top 100 are keeping the details of their next con-ference under wraps, lest the opposition find out about their three day hedonist jaunt to Bacchus Marsh or their lost weekend in Perth’s peculiarly named Dog-swamp.
And 11 of the dealer groups refused to disclose where they would be hanging their slacks and crazy shirts. (Well, you know what they say — silence is golden.)
Planners in need of a quick few days R & R should be bashing down the doors of those 7 dealer groups holding their conferences either before, or during, next Janu-ary.
Condolences should be sent to the planners who have to wait until May 2001 to perfect their golf swings.
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