Synchron’s Trapnell clarifies new role

19 February 2020
| By Chris Dastoor |
image
image
expand image

Director of risk-focused dealer group Synchron, Don Trapnell, said he and fellow co-director John Prosser weren’t retiring, nor will the company be up for sale, as the organisation clarifies what their executive re-structuring means for the future of the company.

It was previously announced Trapnell had stepped back the day-to-day running of the business, with former CommInsure head of distribution, Ian Knight, taking over.

“Everyone thinks we’re ready to retire, but the reality is John and I have been at the helm for 20-plus years and we’ve enjoyed our time,” Trapnell said.

“John and I are proud of Synchron and its achievements, and we’ll be handing over the reins in an orderly and timely fashion designed to retain the Synchron culture.

“We believe it’s appropriate to retain our culture and hand over the reins in a timely fashion that we call ‘programmed obsolescence’.”

Synchron currently had 534 advisers in its dealer group and had produced revenue of over $94 million in 2019.

“We needed to take more of a helicopter view of Synchron than we have in the past, we’ve been tied up with the day-to-day and now we have to senior executives able to do that,” Trapnell said.

Michael Jones, previously head of compliance, had also been promoted to general manager, legal and compliance; and Alison Massey, previously practice development manager, had been promoted to head of compliance – advice assurance.

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago