We’re more than just a financial planning licensee. We offer an opportunity to join an energetic, collaborative community of successful financial planners who, while seeking leadership, innovation and more value from their licence, expect outstanding business support too!
As Head of Practice Engagement and Growth at Fortnum, I’m part of a committed leadership team that thrives on helping financial planning practices to grow and become better, more successful businesses. Here I’d like to share the FOUR key pillars of our approach to practice engagement and growth.
Our team understands and respects that every planning practice is different and your growth and development is a journey that’s unique to you.
Our Practice Engagement Program (PEP) framework takes a holistic view of what it means to create a better financial planning business, with better client outcomes. To that end, we’ve developed a model that offers our financial planning practices more, including:
1: Practice support: Proactive direct support for your practice
We are the go-to point-of-contact for all our Fortnum Private Wealth financial planners.
If you’re engaging with Fortnum for the first time, or you’re simply unsure of where to direct a specific enquiry, we’ve got your back. We can coordinate resources internally or externally as required. Of course, with Fortnum’s accessible team, you can contact anyone at any time as we know how important direct access is for practices.
2: Practice meetings: Opportunity to solve pain points that help practices achieve goals
We meet with our financial planning practices on a regular basis for the purpose of proactively working through goals and finding solutions for pain points that may be inhibiting business growth and development. These pain points often include business inefficiencies, managing profitability, resourcing challenges, articulating your client value proposition and marketing, to name a few.
3: Peer group PODS: Adviser to adviser peer learning and valuable insights
Our Peer Group PODS comprise of around half a dozen advisers and meet on a regular basis. Our goal when facilitating peer learning is to provide perspective, insight and practical ‘from-experience’ applications. PODS take advantage of Fortnum’s legendary collegiate culture where our keenly success-oriented community provides opportunities to come together for the greater good. A POD participant recently reflected on his involvement in his first POD group and said it had been the best two hours he had spent in 20 years as a financial planner.
4: Business Optimisation Service (BOS): A framework to build a better business
As part of our BOS framework we have two main elements. Firstly, the Business Maturity Matrix, which involves collecting and analysing the keys to good business. This includes areas such as strategy, performance, HR, technology, processes, pricing and client experience. Additionally, we analyse the financials and other data to gain insights of on the type of improvements than could be made. As a result of these two inputs, we identify the priorities which will have the largest positive impact for practices to focus on. We then produce a ‘scope of works’ for implementing positive change. This information has the added benefit of benchmarking and identifying practices that are particularly successful in key business development areas.
For those financial planning practices that are unsure of their practice improvement goals, my team and I assist by helping to articulate business priorities and the road map planning necessary to achieving them. We are the conduit for sharing great ideas within the group.
Importantly, we keep financial planning practices accountable.
Through our ongoing practice support we follow progress, offer a sounding board for problem solving and of course, celebrate with our financial planning practices when business success and goals are achieved.
Put simply, at Fortnum our licensing is done differently.
For a confidential discussion about how we can help you achieve your business goals, please contact Rob Skinner, Head of Practice Engagement & Growth or Neil Younger, CEO and Managing Director on 02 9904 2792.
At Fortnum, we are known for our caring, energetic approach, adviser-aligned licensee ownership and a highly collaborative community of financial planning practices. We provide freedom within a proven framework which has a robust approach to risk and governance that creates opportunity for financial planners to build their ideal financial planning business.