Discovery lures former ANZ planner

8 August 2011
| By Chris Kennedy |

A former star ANZ financial planner has credited the support offered by AXA/AMP’s Discovery program as a key part of the reason she decided to leave the security of a bank planning role to start up her own business as a Charter Financial Planning principal.

MMA Financial principal Melissa Azzopardi said that after being initially contacted by Discovery they spent a lot of time working out a model that was suitable for her and helping to initiate that.

A business sign-up allowance also helped to cover some of the initial costs such as marketing and office equipment, but a major part of the appeal was knowing that that backup was there if needed until the business was established, she said.

To perform the role of practice principal effectively you need to make sure all of those resources are there, and compliance plays a particularly big role, she said.

Azzopardi is the only authorised representative in the practice so far, which has been running for about six weeks. She said she has mostly had to start a new client base from scratch, although some of her old clients had sought her out.

The new business is based mostly on referrals, and it is important to be proactive in this area and not be afraid to ask clients for referrals, she said. A referral arrangement with an accountant who works in the same building and has a large client base is also helping, she added.

There is a big cultural shift in moving from a bank planning role to establishing your own business, according to Azzopardi. Rather than being in a situation where there is high pressure on targets and sales, now the focus is on building client relationships, she said.

Azzopardi said she hoped to be able to take on a fulltime paraplanner within the next three months and another adviser in the next 12 months. Her long-term goal is to have around four advisers working under her in the next five years, she said.


width="134" height="23"

src="" / class="img-responsive" >

Read more about:



Recommended for you



sub-bg sidebar subscription

Never miss the latest news and developments in wealth management industry


My view is that after 2026 there will be quite a bit less than 10,000 'advisers' (investment advisers) and less than 100...

4 days ago
Jason Warlond

Dugald makes a great point that not everyone's definition of green is the same and gives a good example. Funds have bee...

4 days 1 hour ago
Jasmin Jakupovic

How did they get the AFSL in the first place? Given the green light by ASIC. This is terrible example of ASIC's incompet...

5 days ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

9 months 1 week ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

8 months 4 weeks ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

9 months 1 week ago