TNP: dealers must deliver
Risk-based advisory group The National Partnership (TNP) officially launched its Academy program this week, offering 80 advisers the chance to fast-track business growth with a money-back guarantee.
Friday, November 20th 2009, 8:06AM
by David Chaplin
TNP head of strategy Dave McMillan told the 110 delegates at the group's conference that the Academy program would give advisers access to a number of resources including intensive ‘master classes', coaching services and membership of Australian-based online firm The Risk Store, which provides a range of templates and documents for insurance advisory businesses.
McMillan said the total cost of the package amounted to $4,500 but advisers accepted into the Academy would only have to stump up with $80 per month, or $960 on an annual basis.
TNP would refund advisers if there they didn't experience a "10% increase in API [annual premium income]" after the year-long Academy program, McMillan said.
Interested TNP advisers have until November 27 to apply to the Academy, which is due to kick off next February.
TNP also launched a pilot scheme last month in Christchurch, The Professional Resource Centre, which aimed to increase referrals to advisers from accountants, lawyers and other professions.
McMillan said that next year dealer groups would have to "account to members on the promises they have made".
He said while all groups would have to deliver on "hygiene" factors such as commission aggregation, professional management and regulation response, advisers would become more demanding next year.
As well as providing "value-added" services including back-office systems and professional development programs, McMillan said advisory groups must also offer a point of differentiation.
He said TNP's plans to help advisers grow their businesses and equity ownership scheme "sets us apart from competitors".
| « Out on their own and looking to clean up the insurance broker industry | Fidelity moves to renewal commission model » |
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