Tandem’s Stairway of growth
Andrew Doquile
In an effort to double the number of practices on its Stairway program by 2007, Tandem Financial Advice has adopted an aggressive strategy aimed at suitable financial planning companies.
“We rely on our Stairway practices to help develop and shape the future of Tandem as a group. In essence, they form our internal board of advice, so practices wanting to join need to demonstrate integrity, trust and willingness to share intellectual capital,” said Tandem general manager Andrew Doquile.
Tandem will begin to look externally at financial planning practices that fit the criteria, which include the requirement they be generating revenue of approximately $1 million.
“Firms of this size will be like-minded and have similar issues to current members. For example, some will be in hyper growth mode, for others, asset sustainability will be an issue, while others will be giving serious thought to succession planning,” Doquile said.
External practices considered suitable for the Stairway program will be invited to attend Stairway events throughout November and December. Those selected to join will meet with their new peers at a forum early next year.
Stairway was established in 2004 and is home to Tandem’s flagship practices. There are currently 12 practices in the Stairway program. Tandem hopes to increase this to a total of 22 practices by 2007.
Stairway offers member firms an affinity group with whom to share critical business and industry news, as well as shape the future for Tandem.
Some current members of the Stairway program will embark on a study tour to New York in late November, with the aim of facilitating Tandem’s thought leadership position for 2007 and beyond.
Recommended for you
Insignia Financial is targeting its salaried financial advisers increase their revenue per adviser by 62.5 per cent over the next five years.
AWAG and Teaminvest Private Group have teamed up to offer a succession lending fund to help advice principals navigate succession planning and enjoy their retirement.
LGT Crestone chief executive Michael Chisholm believes the firm was chosen to acquire Commonwealth Bank’s personal advice arm due to its strong private market capability.
Advisers will now be able to tap into global markets on the platform through international signature managed accounts from global managers like T. Rowe Price and Lazard.
