Trapnell plans two-year exit strategy
Synchron director, Don Trapnell has indicated his intention to gradually hand over day-to-day management of the firm to new appointees, a decision shared by fellow director, John Prossor.
The non-aligned planning group's director said the firm had recently appointed Michael Jones as compliance manager to allow Prossor to begin the process of exiting the business and assuming the role of non-executive director.
"Within two years, I intend to seek a general manager for Synchron to enable me to do the same," Trapnell said.
The firm recently hired former Zurich business development manager, Gee Vas, as its state manager for Queensland, while it hired Jason Milosevski as state manager of Victoria this time last year.
The firm also said it was aiming for a conservative net growth of nine to 10 per cent per annum over the next two years, which would see its authorised representative numbers grow from 427 to 500 by September 2018, which would make it the second largest licensee by risk new business and the fifth largest by adviser count.
"We are looking for slow and steady net growth, but even so, we realise we have our work cut out for us to reach the magic 500," Trapnell said.
"This is because statistically, for every 100 people who make an enquiry about joining Synchron, only half end up meeting our rigorous selection criteria to become authorised representatives."
The firm currently had 119 authorised representatives in Queensland, and was looking to grow this to 130 by this time next year and 140 by September 2018.
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