HILLROSS COMMUNITY NEWS EDITION FIVE
BOTH SIDES OF THE FENCE CELEBRATING A GOLDEN CAREER
CONTENTS Introduction from Michael Guggenheimer
1
Both sides of the fence
2
Celebrating a golden career
4
Enjoying the ride
5
The Good, the Bad and the Ugly
7
Recognition: awards and achievements
10
Service milestones
12
Other celebrations and news
13
New starters
14
Pro bono
15
Photo gallery
16
HILLROSS COMMUNITY NEWS | EDITION FIVE
ii
INTRODUCTION UPDATE FROM MICHAEL GUGGENHEIMER Hillross is full of diverse professionals, as our Advice Summit in the city of churches showed. My thanks to all of you who made the time for such an enjoyable few days. In the spirit of our own broad church of professionals, in this edition we feature the new, the experienced and the good, the bad and the ugly – according to Scott Donoghue. From Nat Daley, Hillross New Adviser of the Year, to Max Lewis – who recently had his 30 year anniversary with the group – talking to us on video, we’re celebrating diversity in this edition. In over three decades of advising Scott Donoghue has conducted countless client seminars, so he knows the world is changing. Scott passes on his tips on how to get the best bang from your buck when looking for new target markets. His thoughtful and practical approach is well worth a read. Troy Gallasch shares his journey from paraplanner to partnership manager and now director of Wealth Logic. Troy credits much of his success to learning how to read different people and then adapt accordingly – the essence of the successful Hillross adviser.
Michael Guggenheimer
Two ex-bankers, Michael Ianchello and Adrianna Barlabas, share how advisers and partnership managers can get the best from a working relationship of like minds. Much of the talk at Advice Summit was around what we’re doing right now, so for those who missed it, we have launched the updated Financial Freedom toolkit. You can also now download the updated 15 and 30-second brand manifestos to play in your firm reception or boardroom. Still with diversity, AMP’s Tomorrow Fund wants to help amazing Aussies from all walks of life who are working towards a goal which will have a positive impact on the community. Previous grant recipients – AMP Tomorrow Makers – have put their funds towards a range of activities, from astrology to song writing. What these inspirational people have in common is they want to make a difference, by creating something special or by inspiring others. I’m sure many of you have clients who fit the bill, and I encourage you to encourage them to apply. Applications open 6 April. Keep your eyes open for more information in the weekly newsletter. It’s quite amazing what determined, professional people can achieve. Garry Millburn from Strategic Private Wealth realised his own goal of reaching the top 40 in the World Championships of Cyclocross. My congratulations to Garry, and all the other winners and those who took part in our annual awards. I hope you enjoy connecting with the Hillross community in this edition.
Michael Guggenheimer Managing Director
HILLROSS COMMUNITY NEWS | EDITION FIVE
1
BOTH SIDES OF
THE FENCE Partnership manager turned practice director Troy Gallasch shares his unconventional journey from paraplanner to partnership manager at AMP Financial Planning and now director of Wealth Logic.
Being on the licensee side of the fence, Troy realised first-hand what makes a good practice tick.
After university Troy trained to be a paraplanner in an Adelaide‑based practice, where he cut his teeth in the financial planning profession. After various roles within a small, locally-based licensee, he joined a practice as a financial adviser. After a few years, not feeling quite ready to be a financial adviser, he accepted a role as partnership manager at AMP. Troy spent seven years building collaborative relationships with practice principals – understanding their goals and drivers and helping them with business planning, mergers and acquisitions, marketing initiatives and various other business activities. Being on the licensee side of the fence, Troy realised first-hand what makes a good practice tick. ‘I saw that as an adviser success is shaped by how many people you speak with, which then converts into business. To be able to do that, you need to have the necessary structure in place to run the business.’
Troy with wife Kate and children Carter, Noah and Charlotte
‘I learned a lot as a partnership manager, we were taught really well. Particularly I learned a huge amount about people, how to read different people and then adapt accordingly – that has helped a lot in returning to a practice role’.
HILLROSS COMMUNITY NEWS | EDITION FIVE
2
BOTH SIDES OF THE FENCE (continued)
‘I learned a lot as a partnership manager, we were taught really well. Particularly I learned a huge amount about people, how to read different people and then adapt accordingly – that has helped a lot in returning to a practice role’.
In-depth practice management skills have been extremely valuable, especially in areas such as staff management and retention. ‘You want your staff to be the right people, who sign up to the business’s culture and that requires treating them well.’ So what was the driving force which led Troy back to practice life? Working with a personal mentor, Troy came to the conclusion that creating the right lifestyle for him and his young family would best be achieved through self-employment. Having spoken about it for years with long-term friend and private banker, Ryan Easton, they both decided the timing was right to make the jump. Original practice owner of Wealth Logic David Peacock had recognised that to take the business to the next level, he needed to introduce new blood, which he had been discussing with his partnership manager. Meanwhile Troy had also been discussing his plans with his colleague, who realised he was in a position to be the perfect match maker. Now equity partners in the business for seven months, Troy and Ryan are delighted with the growth they have achieved in a short time. David continues to look after existing clients, providing business stability and much needed continuity for long-term clients. Back on the other side of the fence, Troy is thriving on the challenges and benefits of self-employment, using the skills from his years on the ‘dark side’ to great effect… when he isn’t chasing after his three young children.
HILLROSS COMMUNITY NEWS | EDITION FIVE
3
CELEBRATING A
GOLDEN CAREER Max Lewis recently celebrated 30 years with the group. We caught up with him at Advice Summit in Adelaide…
HILLROSS COMMUNITY NEWS | EDITION FIVE
4
ENJOYING THE RIDE When Michael Ianchello took over prominent Hillross firm Michael Tierney and Associates on 1 April last year, he certainly wasn’t fooling around. After 26 years in banking and finance he was sick of travelling but not sick of working. The native Melbournian needed a new challenge. ‘I wanted to harness all the experience and learnings over the years into something which I ultimately owned and developed. And it’s been a wonderful journey.’ ‘We’ve grown the firm in staff and client numbers, re-engineered much of the business and revamped processes and target markets.’ Michael credits his partnership manager Adrianna Barlabas with assisting him to change the direction of the Burwood East‑based operation. ‘I see Adrianna as an extension of our business who continues to add value. With a scheduled catch up every fortnight, and beyond she is always available when we need to talk. For instance we’re introducing a pack for clients explaining what we stand for, and helping us define our fee-for-service model.’ ‘Last year Adrianna assisted and participated with our firm, attending a conference for IT engineers and web designers. We took a trade table aiming to break into a market of professionals under 40 years of age. With so many financial advisers working in the pre-retiree area, we see this as a segment with a lot of promise for the future. Our ability to plan, cooperate and work together as a team really paid off.’
Michael Ianchello
Adrianna agrees. ‘I consider Michael to be one of Hillross’ thought leaders, and I have learned a great deal from him in the time we have worked together. We both have a banking background but in very different areas, so some of our philosophies are similar and some are different. That means we are both confident considering opportunities and applying our own different lenses as we arrive at a solution.’ ‘The most important issues for both of us are the people, the clients and the process for providing the best advice.’ Like Michael, Adrianna has no regrets about moving beyond banking. ‘I firmly believe that it has been one of the best things I have done.’
HILLROSS COMMUNITY NEWS | EDITION FIVE
5
ENJOYING THE RIDE (continued)
‘I have had amazing opportunities to involve myself in many facets of finance and corporate life so I feel that I have a very rich background and significant experiences. My move to AMP and now Hillross has allowed me to extend my breadth of knowledge.’ She is no stranger to the demands of the small business owner, and what it takes to make it a success. ‘My father has owned his own business for as long as I remember and I recall how liberated he felt when he started out on his own, he felt like he was running his own race. My husband is a business owner also and I see how satisfying it can be, but I also see the challenges and stresses. One of the greatest gifts I can give my children is the confidence that they have the skill to move forward in life and be masters of their own destiny through business ownership, if that is what they choose to do’. ‘If I can play an important part in helping our practice principals to experience more of the exhilaration of business ownership and fewer of the stresses and challenges, then I consider myself to be doing what I love. And doing what I love gets me out of bed in the morning.’ As a full-time working mother of two boys, two Spoodles and five goldfish, Adrianna doesn’t get much downtime, but enjoys spending it with family. ‘My sons are both very keen cricket players. As a result, I find myself on a cricket pitch somewhere on any given day either watching them train or watching them play. As I gain an appreciation for the game (albeit slowly), one of the benefits is that it forces me to get outside, read a book, keep active, re-adjust the sails and plan ahead. I feel most relaxed when I feel organised and prepared.’
Adrianna Barlabas
‘The most important issues for both of us are the people, the clients and the process for providing the best advice.’
Michael is also busy with his personal future, following his daughter’s netball and his son’s soccer with a keen interest. So much so, the latter even tempts him into the boxing ring to help him keep fit. ‘Whether it’s through my family or other channels it’s important for me to switch off and it certainly helps me continue to enjoy every facet of life to the fullest. I was speaking to another adviser only this morning talking about how we help clients. You have to enjoy the ride.’ ‘I’m also keen to work with my team and bring them along the journey to be challenged, to develop and be recognised and rewarded for their work ethic.’
HILLROSS COMMUNITY NEWS | EDITION FIVE
6
THE GOOD, THE BAD AND THE UGLY WRITTEN BY SCOTT DONOGHUE, HILLROSS NORTH HOBART FINANCIAL PLANNERS
Scott Donoghue
Did you realise 2016 marks 50 years since this film starring Clint Eastwood was released? While it is regarded as one of the greatest Westerns by some, the film industry has changed dramatically since then. Even the word ‘pirate’ now has a different meaning. Using the name of the film as my structure in reverse, the following looks at our experience of marketing, seminars and beyond. Enduring spirit
The Ugly During our 32 years in financial planning we have used seminars very successfully. These are the steps we used to take: yy identified our target market, then a major issue that created fear and/or opportunity ideally with a deadline (ie Centrelink rules 1 January 2015) yy designed and prepared advertising to run on radio and in the newspaper yy booked a suitable venue yy researched and wrote a PowerPoint seminar yy took bookings by telephone yy personally presented seminars in the afternoon and at night yy booked client appointments yy undertook numerous first appointments over the following few weeks which in the past lead to a percentage becoming new clients… This process is expensive. Ring the bell… The traditional seminar is dead, except for those
HILLROSS COMMUNITY NEWS | EDITION FIVE
people who have no interest in and/or access to the internet. This group is gradually declining.
The Bad Waiting for marketing departments to fully understand your unique characteristics given each of us has our own strengths, interests, presentation manner and office culture. It’s your business, not theirs. You are responsible for how you attract the clients you want.
The Good I’m in my fifties so there were no computers when I started work. At university I learnt Logo on an Apple computer the size of Kim Kardashian’s biggest handbag. Technology since then has progressed faster than I ever imagined. Unless you want to go the way of the dinosaurs, spend some time reading the following description of marketing now. It still starts by identifying our target market – the more specific, the better. Who we enjoy working with, have the skills and resources to add significant
7
THE GOOD, THE BAD AND THE UGLY (continued) value, and if they are prepared to pay for advice. Then using free search tools and filters, we can structure an online marketing plan to this group. Initially this is going to involve giving something away for free, but unlike the first appointment model, you only prepare it once. It may be an e-book, a video explanation, a written document, whatever. It will also involve you becoming more transparent, vulnerable and visible as a person, publicly and at scale. Facebook, Google, Instagram, LinkedIn, YouTube, even Twitter now collect incredible amounts of information about you, and your next client. Right now you can access tools and some marketing knowledge that you can either gain yourself or hire someone fairly cheaply, so that you can begin appearing on pages and screens on your target audience’s iPad, iPhone, Android, laptop etc. You can follow them day and night, without being intrusive, or doing any work after it is set up. Eventually, using some refinement and experimentation, including concepts such as retargeting, lookalike groups and so on, you will find something that these prospects are interested in and that you can assist with. How will you know? They will click on some offer you have presented to them. At the point they initiate contact, you pay a small fee to the marketing firm. The cost per ‘ideal’ client is far cheaper and more accurate than the methods we used to use. From a compliance perspective, you reduce the business risk by getting the right people with you from the start. As part of you initially helping them for free, they will supply you with their email. Now you can offer a more structured relationship, automated again, so that it doesn’t take any more time other than the initial set-up and can include specific marketing and discovery at a far gentler pace than you probably took on your first date. Software such as Infusionsoft can oversee the automated building of this relationship although software such as AutopilotHQ will meet most of your needs for around 5% of the price. At some point a level of trust, respect and rapport will be built up by what you have learned about the prospect. Using other free software such as Skype or Zoom (I prefer the latter), your prospects can be anywhere in Australia or beyond. I now have clients around
HILLROSS COMMUNITY NEWS | EDITION FIVE
Australia who have never been to Tasmania. The first appointment and subsequent appointments are online, sitting opposite each other, seeing each other, using a whiteboard on your iPad or similar that you can show the client and record for compliance purposes. The bare bones such as fact finder, statement of advice and so on are naturally still part of compliance. A bit like if you paint a large wall in 2016 you still need paint, but a much more technologically advanced paint, perhaps now using compressed spray guns. So too financial planning still has the ‘paint’ but the method of applying it can be also be considerably different – faster, more accurate, cheaper. Did you know there are websites now where you can hire overseas-based fully qualified virtual staff for everything from being your personal assistant, researching existing investments, liaising with Centrelink, even paraplanning – at a fraction of the cost you currently pay? Naturally, there are rules, structures and regulations in line with the licensee and the Privacy Act must be followed. Client seminars can now be done instantaneously, simply by sending out an email to your prospects/ clients and broadcasting live from wherever you are. You can offer a topic to your prospects or clients and if they choose, they can simply click on the link and you can be presenting live in seconds to unlimited numbers. It can be recorded and available to those clients who miss it. Financial planning is rapidly changing. I was asked to write about seminars. Steve Jobs said his life had made more sense joining the dots looking backwards. It was only by doing this that I realise the process of finding, scoping and delivering significant initial and ongoing value to our next lot of clients we want to work with has also changed. Just like the dinosaurs, some of us may not adapt to the new environment fast enough. However, we should be aware of what can be done and in touch with businesses in our profession who are using all of the above in some form. Hopefully, like us, this insight is helpful to you and creates enough perturbation to challenge your existing business paradigms before it’s too late.
8
CELEBRATING SUCCESS RECOGNITION: AWARDS AND ACHIEVEMENTS SERVICE MILESTONES OTHER CELEBRATIONS & NEWS NEW STARTERS
HILLROSS COMMUNITY NEWS | EDITION FIVE
9
RECOGNITION: AWARDS AND ACHIEVEMENTS
HILLROSS AWARD WINNERS 2015 CONGRATULATIONS TO TIM GRAY Adviser of the Year 2015 Tim Gray of Net Worth Financial Planners from Wollongong, NSW joined Hillross in 2004 before purchasing the business in 2011 from his father Andrew. Tim has gone on to grow the business through client referrals, centres of influence and business acquisitions – although the main focus remains maintaining and growing current relationships. Tim is described by one of his clients as having the ‘ability to just ask the right questions, listen well, and has an engaging and positive personality’. He has also been the HAA representative on the AMP Product Research Consulting Group for the last two years, working with advisers and AMP to shape Hillross’s range of product solutions.
Simon McKeon, Tim Gray and Michael Guggenheimer
CONGRATULATIONS TO HILLROSS MACARTHUR Advisory Firm of the Year 2015 Hillross Macarthur was established in 2000, and since then has grown through initiatives such as giving existing clients invitations to pass onto friends or family to have complimentary financial health checks. Everything they do is focused on giving the best client experience and that starts from the moment the client arrives, where they are greeted by a welcome sign with their name on their very own parking space.
charities such as the Mater Dei School for special needs children, and Youth Solutions, a youth drug and alcohol prevention program. Already the 2015 winner of the Local Business Award, well done Peter and all the team at Hillross Macarthur.
Such professionalism is also demonstrated by advertising through a ‘Chat with a Guru’ article in a local community magazine, along with a series of 10 educational videos about various aspects of financial planning. According to one of Hillross Macarthur’s clients, the firm has provided her with ‘financial independence, security and peace of mind’ through its professionalism. Based in Campbelltown NSW, Hillross Macarthur is deeply involved in its community, supporting local
HILLROSS COMMUNITY NEWS | EDITION FIVE
Simon McKeon, David Debono, Peter Nonnenmacher, Lyn Nonnenmacher and Michael Guggenheimer
10
CONGRATULATIONS TO NAT DALEY New Adviser of the Year 2015 Having been a finalist for this award in 2014 Nat has continued to receive a lot of referred clients, while also doing significant pro bono work for the Cancer Council, with 11 client cases in 2015. Nat enjoys a very strong profile within the community and profession. He regularly compiles and sends out newsletters, and also writes on a business and finance blog to maintain a presence in the media. He shows strong leadership and has mentored two university students who have progressed from interns to paid staff members of the firm. Ian Batten, Practice Principal describes Nat as ‘a young man with a big future’.
Simon McKeon, Nat Daley and Michael Guggenheimer
Congratulations to our New Adviser of the Year 2015.
WE WOULD ALSO LIKE TO ACKNOWLEDGE THE WINNERS OF THE HILLROSS ACHIEVEMENT AWARDS Professional Excellence Tim Gray, Net Worth Financial Planners
Promoting the Interests of Women in Financial Planning Dianne Chalk, Hillross Fairy Meadows
Double award winner – Tim Gray
Dianne Chalk (who was unable to attend the event)
Financial Freedom Alisha Cameron, Hillross Horsham
Service to the Community Hillross Horsham
Alisha receiving her award from Michael Guggenheimer and Rob Caprioli
Richard Goudie receiving the award from Michael Guggenheimer and Rob Caprioli
HILLROSS COMMUNITY NEWS | EDITION FIVE
11
SERVICE MILESTONES Congratulations to the following people who celebrated anniversaries in the first quarter:
15 years
David Heyworth – Edney Ryan Wealth Management Pty Ltd, NSW
30 years
Max Lewis – Lewis Financial Advisory Group, NSW
Mario Topcic – MMT Future Wealth Financial Planning, NSW
50 years
Chris Godfrey – Godfrey Partners, SA
HILLROSS COMMUNITY NEWS | EDITION FIVE
12
OTHER CELEBRATIONS & NEWS GARRY MILLBURN TAKES ON THE WORLD Congratulations to Garry Millburn from Strategic Private Wealth who came 38th in the World Championships of Cyclocross on 31 January. Having set himself the goal of a top 40 ranking, he’s rightly delighted with his performance. Garry puts his success down to setting a goal, putting a plan in place and then taking the necessary steps during the year to reach that goal – which sounds a lot like how he helps his clients.
Pedal power
FINANCIAL FREEDOM – the next frontier We have officially launched the updated Freedom Toolkit and Customer Journey Map. For your ease, we have also created snippets of the Freedom Toolkit for you to download (depending on what you would like to learn more about) without having to download the entire 145 page document. This explains how to use the Financial Freedom brand with your clients and you can find it on Portal. The Hillross Marketing Webinar series has also officially launched, so don’t forget to register for a marketing webinar hosted by one of our state marketing specialists. This is a 12-month calendar of marketing support and coaching for all firms on topics that you have told us are important to you. You can register for any webinar directly from the calendar and this is available on Portal. For a complete guide on what is available to you from Hillross, we have also created an easy-to-read marketing tools flyer, a summary of the resources available and where to find them. Find this flyer on the Hillross marketing home page on Portal. Finally, remember to download the updated 15 and 30-second brand manifestos to play in your firm’s reception or boardroom. These videos are a fantastic example of what living Financial Freedom is all about. You can also find these on Portal.
HILLROSS COMMUNITY NEWS | EDITION FIVE
Recovery
HELPING AMAZING AUSSIES DO GREAT THINGS AMP’s Tomorrow Fund wants to help amazing Australians who are doing great things. For the third year, this program is offering up to $1 million in total grants to passionate individuals of all ages and walks of life who are working towards a goal that will have a positive impact on the community. AMP is supporting determined and talented Australians across a variety of areas – everyone from artists to athletes, inventors to social innovators, musicians to medical researchers and more can apply. What these inspirational people have in common is they want to make a difference, be it through creating something special or by inspiring others. Grant recipients – the AMP Tomorrow Makers – can put their funds towards a range of activities, including training, travel costs, living expenses, research and development. If you – or someone you know – have what it takes to be an AMP Tomorrow Maker, visit ampstomorrowfund.com.au to learn more. Applications open 6 April.
13
NEW STARTERS Welcome to the following people who started with Hillross in November, December, January and February:
NSW yyGytri Sethi – The Hills Forum Financial Planning yyLynette Oberholzer – Prosperity Advisers Group Pty Ltd yyJoanne Smith – Edney Ryan Wealth Management Pty Ltd
QLD yyRebecca Kopon – Coral Coast Financial Services yyChristine Dale – Coral Coast Financial Services
VIC yyDonald Hands – WP Financial Planning Pty Ltd yySam Roufail – Lowe Lippmann Trakman Financial Services yyHanjie Shi – Michael Tierney & Associates Pty Ltd yyGlen Stander – Michael Tierney & Associates Pty Ltd
WA yyCoralie Edwards – Hangia Pty Ltd
TAS yyJaime Donaldson – Zenith Wealth Tasmania yyJared Schrank – Retirement Tasmania
HILLROSS COMMUNITY NEWS | EDITION FIVE
14
PRO BONO The partnership between Hillross and the Cancer Council to provide pro bono advice is an excellent way to use our expertise for the benefit of those less fortunate. As well as helping the disadvantaged, this program helps to build community support for the financial planning profession, and increases awareness of the difference we make in people’s lives.
A big thank you to all of the pro bono firms who have dedicated time to helping families affected by cancer. The pro bono program representatives at the Cancer Council stand at Advice Summit were delighted to meet so many of you and to hear some inspiring stories about the families you have helped. If you would like to get involved in the program, the Cancer Council is urgently looking for pro bono advisers in the following areas: yy Western Australia
Find out more about this life changing program, visit Portal.
yy Tasmania yy Alice Springs.
HILLROSS COMMUNITY NEWS | EDITION FIVE
15
PHOTO GALLERY
PREMIUM CLIENT EVENT SOUTH AUSTRALIA
Held at the South Australia Museum, the evening celebrated fine food and wine with 120 guests who enjoyed a private viewing of the Opals Exhibition. Partnership manager Sarah McCarthy emceed the event with local celebrity speaker Michael Keelan sharing anecdotes from his colourful career in the media.
Michael Keelan
A great turn out
HILLROSS COMMUNITY NEWS | EDITION FIVE
Soothing sounds at the South Australian Museum
16
PHOTO GALLERY
ADVICE SUMMIT 2016 ADELAIDE
Advice Summit 2016 had an amazing turnout in Adelaide. The vibe was really positive, the speakers were inspiring and the networking opportunities hugely valuable.
Lisa Barber and Anna Gordon
Shannon Prentice, Simon Raines and Serena Palmer at the Adelaide Oval
John Castle and Rick Jaksch
Melissa Hall and Jennifer Leslie
Michael Guggenheimer
Andrew Gregory takes to the stage
HILLROSS COMMUNITY NEWS | EDITION FIVE
17
CONTACT US Share your story: contact us at adviser_comms@amp.com.au
WHAT’S YOUR IDEA OF FINANCIAL FREEDOM?
The information in this newsletter is for use by staff and advisers of Hillross licensed firms only and (unless otherwise stated) must not be distributed to clients or to other third parties. Any advice contained in this newsletter is of a general nature only and does not constitute personal financial product advice. Therefore, before making any decision to act or rely on any advice in this newsletter, advisers should consider the appropriateness of the advice with regard to their clients' particular objectives, financial situation and needs. AMP Limited, 33 Alfred Street, Sydney NSW 2000, Australia Š Copyright 2016 AMP Limited. All rights reserved.
24115 03/16
This publication was sent from Hillross to advisers and staff of Hillross.