Charter continues steady expansion

Charter Financial Planningadded 57 financial planners to its ranks last year, continuing the steady growth pattern shown over the five year history of this survey. Charter general manager Bruce Birchall says from Charter’s point of view, growth has never been about “racking up numbers”, but about steady expansion — as evidenced by this relatively conservative, yet significant result.

One small aid in the group’s growth was the 2003 closing of theAXAowned Altus dealer group as part of the group’s rationalisation of its financial planning brands. While Birchall says around seven of the 40 Altus practices did move to Charter, the majority moved toAXA Financial Planning. Rather, Birchall says stable and continual growth is “predominantly about having an offer that is appealing to people, and keeping it updated”.

A few changes made to Charter’s offer over the last year include the introduction of a cap on the costs of being associated with Charter (planners must prove eligible for the cap) and further professional development to support the “leaders’ group”, which was launched late last year and is made up of 25 leading practices.

Throughout 2002-03 Charter practices continued to benefit from a decentralised support model, which provides business coaching, professional development, and technical support in each state.

The 414 planners currently with the group are predominantly CFP qualified. Birchall says this is standard, and something the group intends to continue, with succession planning top of mind over the next year.

Of continuing importance, of course, will be consolidation of positive changes made in 2003, as well as a number of new initiatives later this quarter, Birchall says.