Securitor to provide Torque to business development
Sean West
Financial services dealer group Securitor plans to roll out a new structured business development planning tool aimed at driving planning practice profitability.
The new offering, Business Torque, is being piloted through a number of the dealer group’s practices and is expected to be officially rolled out later this year.
Business Torque looks at the different stages a business will go through, and, according to former Asgard Wealth Solutions head of advice business solutions Sean West, is a separate entity to Securitor’s AdviserNETgain.
West was recently promoted to be general manager at StGeorge Insurance.
“AdviserNETgain is more about the work that advisers do — giving advice and making sure that it is efficient as possible,” West said.
“Business Torque is about their money, their business in regards to what [sort of] business they are running to make sure they maximise profitability.”
West said Securitor has businesses in many different stages of development, with a number of businesses in ‘pre-start up’, others in ‘growth’, ‘maintained’, ‘extend’ or ‘exit’ stages. He said through Business Torque advisers will have access to a program that will help with business development.
“So what this does [is have] a consultancy coaching program for each stage of the business development process,” he said.
“We segment each of our businesses into where are they right now … make sure they’ve got their business plan, they’re executing on their business plan, that they model the issues in their business so they can maximise their opportunity. We can pre-empt the next stage.”
West said as with AdviserNetgain, the new program is being piloted among planners through its Australia-wide adviser feedback network.
“We have a national advisory council that is made up of different advisers from each state. They are a big mechanism in our feedback of piloting products. So we’ll use them as we develop things and roll them out,” he added.
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