Lonsdale Financial Group has developed its own practice management program that offers business planning, management and lifestyle advice to its associates.
Chief executive Mario Modica said Lonsdale Business Blueprint was developed by chief operating officer Michael Hodgins to provide a tool that was more relevant to employees of the Melbourne-based dealer group, which is majority owned by Zurich Australia.
Up until now, Lonsdale’s over 150 authorised representatives used a combination of different practice management tools including a program developed by MLC and others used by Zurich advisers. Lonsdale advisers will not be forced to change over to the in-house program, but will be encouraged to do so in the long-term.
For now the tool will only be used by Lonsdale Financial advisers, but a spokesperson for the group says it could be adopted by other Zurich advisers some time in the future.
According to Modica, having an in-house program will allow Lonsdale Financial to save expenses on coaching staff and other specialised practice management professionals.
He says the program also allows associates to share ideas with their peers and access marketing support, processes, industry research, guidelines and training.
“While many practice management solutions are focused on getting funds into a platform, or incorporating processes for process sake, we have developed something that is completely unique and relevant to our advisers.
“We work with our practice leaders and track exactly where their business is, where they want it to be in the short and long-term, and map out specific drivers to help them achieve their goals.”
