Planet considers organisations' future
Adviser group Planet spent time at its recent annual conference discussing whether it is inevitable that industry bodies will merge.
Tuesday, April 12th 2016, 5:59AM
John Reddiford
Co-chair John Reddiford said the team, under the management of general manager Keith Walter, looked at potential new alliances.
“It is argued that some rationalisation within the industry may be inevitable. As industry bodies jockey for position it is going to be a matter of conjecture which best serves the interests of the IFA channel and which of these bodies will survive.”
He said Planet focused on a conservative management model and had a loyal membership.
Reddiford and Tony Caldwell continue as joint chairs of the organisation and the rest of the board was also unchanged after the meeting.
But one of the group’s founding members, John Harris, announced his retirement.
Reddiford said Planet had grown solidly over recent years and was picking up new brokers each year, while declining a number of applicants who did not fit its culture.The group has 26 adviser businesses as members, which employ a number of advisers each.
The theme of the conference was process and compliance and was fronted by consultant Barry Read, of IDS and Walter.
Further stages of the process Planet has developed for its members was rolled out and provoked discussion.
Frank Wood of Invercargill was named Broker of the Year and Steve Maley of Blenheim runner-up.
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