Queensland-based financial planning dealer group Centrepoint Alliance sees the Royal Commission as an opportunity rather than a threat, according to its new chief executive, Angus Benbow.
Benbow sees the group’s now five-year-old restructure and its support for self-licensed advisers as having positioned it to take advantage of the changes which will result from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
In a statement issued this week, Centrepoint described the Royal Commission as a “a key turning point for the industry” and as a catalyst to re-think the transparency of the industry’s relationship with society at large.
“Since our restructure five years ago, we have exercised a strong commitment to delivering high industry standards and to raising the overall bar,” Benbow said. “We have worked hard to foster a strong community of high quality advisers who have contributed to our reputation and industry standing. This is a benchmark we will not compromise on.”
He said he believed it was now critical for the affected sectors of the industry to rebuild public confidence by using current events as an opportunity to reset the relationship with the community.
“What the public seeks is a transparent organisation with a strong reputation and financial advisers they can trust,” Benbow said. “Centrepoint’s greatest strength is its robust community of advisers, and an environment that naturally fosters best practice through shared learning.”
He said this was why he saw the Royal Commission as a chance for Centrepoint to attract financial advisers excited about innovation, reputation and change.
“We have built a strong quality framework around our compliance, and a sophisticated way of working with our advisers and supporting them in their work,” Benbow said. “To uphold our reputation, we will continue to raise the bar for advisers interested in joining us.”
“Financial advisers can be assured they will be joining a reputed organisation that practices self-accountability. In exchange, they will receive access to a supportive peer network that learns together and grows, and an organisation continually looking towards harnessing data and technology.”
