By Rebecca Evans
AustralianFinancialServices (AFS) has struck a deal with consultative firm the Encore Group to develop a practice management program exclusive to AFS advisers.
AFS chief executive officer Peter Daly says the enlisting of Encore will facilitate the development of a suite of practical and intuitive modules which will complement present practice.
However, Daly says the program has not been initiated to dictate nor direct practices on how to run their business.
“It is intended to provide them with models, templates and guidelines, aimed at potentially improving efficiency and profitability,” he says.
Daly says the Encore Group was the best strategic fit to develop a program targeted at improving practice management and enhancing adviser performance.
“We were not looking for off-the-shelf solutions. We were willing to spend time, money and resources to develop tailored solutions for AFS practices that will provide them with a commercial edge,” he says.
Last month, AFS secured the services of multi-manager Russell Investment Group to manage its superannuation investment arrangements.
The mandate with Russell signalled Daly’s first foray into fulfilling his mandate set back in March this year when he was appointed as AFS managing director following a full strategic review of the group.
The Encore Group was established in 2002 when three ING executives — Richard Klipin, Graham Peatey and Matthew Fogarty — left the institution to launch the firm.
