Asgard's Michelle Woodgate has been named Money Management BDM of the Year.
With over 15 years of experience in financial services, it was Michelle Woodgate’s (pictured) unwavering passion and commitment to the industry that saw her crowned the 2011 Money Management BDM of the Year.
An active member of the Sunshine Coast financial planning community, Woodgate held the position of secretary at the Sunshine Coast Chapter of the Financial Planning Association from 2002 to 2010.
She joined Asgard in January 2008 as a sales consultant business development manager, having worked for a decade as a financial planner at a number of small and large boutique practices.
Woodgate believes her experience in the industry helped her to better understand the advice process as well as the challenges and demands facing financial planners.
“My financial planning experience has given me extensive knowledge, understanding and first-hand insight into the advice process and the challenges facing financial planners, their businesses and their clients,” she says.
As part of her current role, Woodgate is responsible for the growth in revenue derived from funds under management on the Asgard Platform, AdviserNET. She achieves this through relationship building with an existing panel of adviser clients as well as prospecting for new clients.
“I also support advisers through marketing and communication campaigns, such as seminars, that promote financial planning strategies and the value of financial advice,” Woodgate says.
As part of her current role, Woodgate is responsible for the growth in revenue derived from funds under management on the Asgard Platform, AdviserNET.
She achieves this through relationship building with an existing panel of adviser clients as well as prospecting for new clients.
“I also support advisers through marketing and communication campaigns, such as seminars, that promote financial planning strategies and the value of financial advice,” Woodgate says.
It was Woodgate’s passion for the people she works with and her dedication to the cause that made her a favourite with the judges.
Clearly relishing her role in the industry, Woodgate praised the people she worked with and says hers is an ever-evolving role.
“I work with dynamic and intelligent people who are not only excellent financial planners, but brilliant business people and inspiring marketers. I see my relationship with my panel of advisers as mutual.
“Not only do I get the opportunity to make a contribution to my clients’ businesses and add value by uncovering business inefficiencies, but I am also constantly learning and developing my own skills as a result of these relationships,”
With the Future of Financial Advice (FOFA) reforms continuing to cause uncertainty in the market, Woodgate says she is looking forward to helping add value to her clients’ businesses.
“Advisers know that change in their business is inevitable,” she says.
“However, many planners still remain unsure about how to embrace the change from an operational perspective. This is where I really add value to my clients’ businesses.”
Woodgate’s speciality is working with clients and providing them with the tools, know-how and expertise on how to rationalise their back-office process, improve their client interface and simplify cost structures.
“I know this is going to be an increasingly important part of my role in the coming months and years, and it’s certainly the part of my role I enjoy the most,” Woodgate says.
Woodgate feels her greatest achievement over the past few years has been the satisfaction she has achieved from helping advisers grow their business in tough market conditions.
“I love it when advisers give me feedback on the positive difference my strategies have made to their practice. Knowing I have helped a practice grow, or increase its profitability, makes all the hard work worthwhile,” she says.
Looking ahead to the upcoming financial year, Woodgate feels the industry is well poised to handle change. She believes working together is the key to success in financial services and says educating consumers is essential.
“The greatest success for our industry has been the general increase in client awareness and understanding of products, technical strategies and pricing post-GFC.
"While investors still have some uncertainty about ‘investing’, they have a far better understanding of financial planning concepts such as ‘transition to retirement’ and risk profiling,” Woodgate says.
“Advisers tell me they are benefiting from having more informed clients, as the client can easily understand the value an adviser adds when helping them create and protect their wealth.
"Clients are busy buying into an adviser’s value proposition rather than being sold into a product. This has a positive overall effect for the financial planning industry,” she says.
With the BDM of the Year award wrapped up, Woodgate is looking forward to continuing with business as usual. She has a busy year ahead helping advisers embrace regulatory change and accelerate business growth.
“I will continue to work with my panel of advisers by committing to deeply understand their business needs and goals. With this knowledge I can then partner with them to develop tailored practice level strategies that result in a more efficient and profitable business that can navigate change,” she says.
