“The importance of employee training to an organisation should never be underestimated, [it’s] the best insurance policy against all sorts of the inevitable changes and the unforeseeable needs that will arise in your organisation from time to time.”
— “The importance of training”, seismic.com
“Always go too far, because that’s where you’ll find the truth”
— Albert Camus
One of the more significant weaknesses of training and development programs for Responsible Managers and Compliance Professionals, is that courses focus on articulating and re-articulating the law, instead of testing participants knowledge and understanding of their obligations and duties.
We approach training differently.
In this three-hour workshop, participants are spared the usual lectures and, instead, are thrown in the deep end to apply their knowledge and practical understanding to a business (other than their own) in an open and non-judgemental environment.
With the assistance of the facilitators, participants explore a detailed case study and identify issues, exploring their implications and propose solutions.
It’s a practical workshop that effectively tests, measures and improves participants’ understanding.
If you’re a Responsible Manager or Compliance Manager looking for training that will challenge and engage you, reach out to us or enrol in our September Face-to-Face workshop.
Taking the role of Sam Capegoat, the Responsible Manager for Alligned Financial Solutions, you’ll have the opportunity to practically explore how obligations, responsibilities and duties work in practice.
If you’re interested, assume the role of Sam and start by reflecting on your decision to join Alligned Financial Solutions.
This is a work of fiction. Any similarity to actual persons, living or dead, or actual events, is purely coincidental.
Alligned Financial Solutions
After the train-wreck that was 2021 (and 2020), 2022 has been awesome.
Last year, when you were struggling to hit your platform targets as a BDM, you wondered where you were going to go next – so being headhunted for a COO role in September 2021 was both unexpected and delightful.
The fact that you were recruited so quickly into a role that you never expected to get, and so clearly positioned to shortly succeed the current (joint) CEOs, showed that you’d simply been underestimated.
Clearly, Mick Master and Tom Shrapnel, the ageing owners and joint-CEO of Alligned Financial Solutions (AFS), saw everything you brought to the table; an abiding interest in financial advice, solid professional certifications and a desire to make a mark.
Recruiting you as quickly as they did reinvigorated you.
Clearly, your immediate appointment as Responsible Manager and Key Person under their AFSL shows how critical you are to their succession planning.
You were certainly impressed by the efforts they took to rework your resume and promote your appointment in the industry media and through the industry associations; being so quickly nominated by Tom for an industry Excellence award for Leadership was an obvious indicator of your peers’ respect. This is even more impressive considering that, as part of the transition plan, Tom still does most (if not all) of the media for AFS.
You appreciate that he does, because your C-suite role is bigger than you expected and, even with Mick and Tom’s support, it’s been a steep learning curve. Thankfully, you haven’t had to participate in any Board meetings yet and, with Mick managing the financials and strategic partnerships, you’ve had the space to concentrate on the “business” and establishing AFS as a Licensee of first choice (it’s already one of the larger licensees).
In fact, Tom’s willingness to take care of “compliance” while you got your feet under the desk made perfect sense given his wife, Carol who was previously an adviser, now manages the para-planning and audit team. Without having to worry about reference checks or how to transition the ex-bank advisers into the review schedule, you were better able to concentrate on further embedding AdviceTech’s MDA solution.
It’s been a challenging but effective transition. Mick’s role on the Boards of both AFS and AdviceTech ensured that you got the information you needed to track adoption and the advisers’ increasing use of the facility significantly bolstered AFS’s bottom line (which persuaded the Board to approve your plan to fill the longstanding vacancies in the management team).
Even though you haven’t completely worked through the Board’s short-list of candidates, you’re ahead of your financial targets and your first bonus in three years is well within reach. Recently, however, you’ve begun to suspect that big changes are afoot.
The March 2022 Conference
At the recent AFS Conference in Singapore (March 2022), the CEO of AdviceTech announced, in a keynote address, that they had been acquired by the Brisbane Banking Group (BBG) and were part of Brisbane’s new strategy to make financial advice more accessible and more affordable; a strategy in which AFS was a key part. AFS (and key officers) would maintain their shareholding in AdviceTech to help drive innovation in advice systems.
You were surprised (and a little annoyed) to first hear this at the National Conference, but, as Tom pointed out, BBG’s underwriting of the Conference should earn them a little forgiveness.
In fact, the Conference was a huge success.
Although you would have liked to have spoken at the Conference, your introduction to the Network was positive and upbeat and unaffected by Mick and Tom’s announcement that, because of your appointment and the strength of the management team, they were withdrawing from active involvement in the business. This convinced you that you’d made the right choice and the advisers seemed to react positively too.
The presentation made by Steve Bennett from Equity Fund LLS reinforced the view that independent advice, and a business like AFS, was the future of advice.
It was only after the conference, and during the course of interviewing new executives, that you started to hear rumours about AFS.
To enrol in the next Melbourne workshop (and access the full case-study) click here.
To enrol in the next Sydney workshop (and access the full case-study) click here.