Murray Hills

Sentry Group Chairman and Managing Director Murray Hills said irrespective of the digital age, increased regulation and compliance, the bar has irreversibly changed for what it means to be a successful professional financial adviser and Sentry’s Aspire Partner practices are leading the way.

Our Sentry Advice Aspire Partners program emerged after Sentry reviewed its business model and moved away from being just a licensee to a holistic business and professional services firm.

Commenting further Murray Hills said Sentry’s high-performing Aspire Partner advice businesses standout for their client focus and growth mindset.  “They are using a range of strategies, systems and initiatives to improve productivity and deliver benchmark client experiences that in turn are the source for new business growth, referrals and alliance opportunities”.

Head of Advice and Senior Financial Adviser Shane Light of Melbourne based The Hopkins Group is a firm believer in the holistic provision of advisory services by including programs that improve financial literacy, mentoring and career development of clients.

Although it can come with many challenges, Shane admits he is personally and professionally thriving improving the understanding of clients on ways they can protect and achieve their financial aspirations.

Shane started his financial services career in Wollongong as a mortgage broker / accountant in 2002.  Five years later he became an adviser before relocating to Melbourne in 2010 and in July 2015 joined The Hopkins Group.

Promotion to partner was achieved in December 2017 and more recently he received distinction as a semi-finalist in the 2018 AFA Adviser of the Year Award.

The one-dimensional traditional advice practice model of client-in / advice-out is all but gone said Shane Light.  Staying relevant to the times and the changing needs of clients is paramount and the foundation for a strong vibrant practice of the future.

“Financial literacy is the cornerstone of any good financial strategy and helping each demographic, especially Millennials and Gen X and Ys, break down the jargon and get excited about their finances is an incredible opportunity”, added Shane Light.

“The Hopkins Group invest heavily in client engagement and experience strategies with constantly evolving programs at their core that are designed to educate and generate conversations”.

“Money Master, Bubbles Beers Budgeting and Future First Homeowners are examples of creative programs and campaigns developed to entice and engage a new generation in good financial behaviour”.

Talking Sport is another initiative where Shane presents at sporting clubs on the impact and consequences an on-field injury can have on a professional athlete.  Relatively short careers are made even shorter when earning capacity ceases from an injury catastrophically putting an end to the potential for a financially secure future.

As the result of the financial education programs and privileged position as trusted financial adviser Shane is called on by clients to help them gain clarity and perspective on their lives and careers.

Shane continued, “Coaching and mentoring on career progression, overcoming the hurdles to first home ownership, starting a business and other life challenges was an inevitable evolution to come out of the client-facing relationship-focused activities.

“Demand is definitely going to grow for this as an integrated offering within the ongoing adviser-client journey”.

Looking to the future beyond FASEA and the Royal Commission, Shane is confident The Hopkins Group is more than ready.  The practice has an appetite for adviser growth and expansion including acquisition where appropriate provided they can be managed and are a cultural fit within the group.

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The winners for 2016 include:

• Practice of the Year Award: PMM Financial Advisors (WA)
• Adviser of the Year Award: Andrew Halliday from AdviceOne Financial Services (QLD)
• Senior Adviser of the Year Award: Graham Greenaway from Geraldton Greenough Financial Services (WA)
• Rising Star Adviser of the Year Award: Steven King from  YV Financial Services (VIC)
• Life Risk Practice of the Year Award: Lifecover Australia (QLD)
• Regional Practice of the Year Award: Byfields Wealth Management (WA /NT), Creative Wealth Ideas (VIC /SA), JSK Wealth Solutions Pty Ltd (NSW /ACT) and Wealth Connexion Pty Ltd (QLD)

Speaking in Perth last Tuesday, where the final presentations were made, Sentry Group CEO and Chairman Murray Hills said the awards recognised and rewarded excellence within its national network of financial services advice business.“Sentry prides itself on its commitment to help advisers achieve the best they can and there were some absolute front runners this year,” Mr Hills said.

“Sentry prides itself on its commitment to help advisers achieve the best they can and there were some absolute front runners this year,” Mr Hills said.“The Practice of the Year, PMM Financial Advisors, demonstrated outstanding client service, best-practice professional development of advisers and staff, and an efficient, productive and profitable business. Their practice is an outstanding example within the profession.”

“The Practice of the Year, PMM Financial Advisors, demonstrated outstanding client service, best-practice professional development of advisers and staff, and an efficient, productive and profitable business. Their practice is an outstanding example within the profession.”Mr Hills said the Adviser of the Year and Rising Star Adviser of the Year winners were also particular standouts.

Mr Hills said the Adviser of the Year and Rising Star Adviser of the Year winners were also particular standouts.

“Andrew Halliday from AdviceOne Financial Services, is very client focused, embraces technology in the efficient running of his business, and by choosing to specialise in retirement and pre-retirement planning, can focus his service on delivering the very best client outcomes within his specific market,” Mr Hills said.

“Steven King, winner of the Rising Star Award, is an upcoming young financial adviser in a family business, who has learnt from his father the absolute importance of client service. “This has resulted in a firm in the Yarra Valley in Victoria, YV Financial Services, that offers that friendliness and knowledge about clients that you often find in regional areas – where clients and advisers have a mature and successful mutually beneficial relationship.”

“This has resulted in a firm in the Yarra Valley in Victoria, YV Financial Services, that offers that friendliness and knowledge about clients that you often find in regional areas – where clients and advisers have a mature and successful mutually beneficial relationship.”Mr Hills said “It is no coincidence that the majority of winners are also participants in the Sentry Optimum Better Business program where practice leaders are invited to join a roundtable consisting only of their peers.

Mr Hills said “It is no coincidence that the majority of winners are also participants in the Sentry Optimum Better Business program where practice leaders are invited to join a roundtable consisting only of their peers.“Each roundtable group is independently facilitated and completely tailored and specific for its particular members to assist each other in solving their most pressing business issues and concerns. Members can count on their peers to provide fresh perspectives and new ideas at roundtable meetings”.

“Each roundtable group is independently facilitated and completely tailored and specific for its particular members to assist each other in solving their most pressing business issues and concerns. Members can count on their peers to provide fresh perspectives and new ideas at roundtable meetings”.“The unique concept has been met with great excitement within the network, and received critical acclaim by industry observers”

“The unique concept has been met with great excitement within the network, and received critical acclaim by industry observers”

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Murray Hills

Sentry Group has announced an exclusive joint venture arrangement with Intiger Asset Management Pty Ltd a wholly owned subsidiary of Intiger Group Limited, an ASX listed company specialising in software development and offshore processing platform solutions dedicated to reducing the back office and operational costs within the Australian financial planning industry.

Under the HOA and stage 1 of the arrangement, Intiger will provide a framework for the development and delivery of a centralised back office administration and para planning solution.

Commenting further on the announcement, Sentry Group CEO and Chairman Murray Hills said, it was an exciting opportunity to provide bespoke solutions to the national licensee’s adviser network. “We are constantly seeking advances in technology and process solutions for our advisers that they can utilise to improve operational efficiency, productivity, profitably and the provision of the very highest standards of compliant financial advice and client service”.

“Advice practices and licensees must transform their operational models to reflect the post FoFA LIF era that requires consumer / client best interests are firmly at the centre of everything they do.

“With significant margin pressures being experience throughout the industry I’m confident our advisers will benefit immensely from the Intiger offering which will future proof their businesses by significantly bolstering their back office operational frameworks and in doing so enhance their positions as professional client focussed advice practitioners”.

An additional benefit for Sentry is that national licensee will have exclusivity in the marketplace as Intiger’s ‘preferred Licensee’ in the non-aligned independent sector during the period of the HOA.

Headquartered in Perth, Intiger was established by Mark Fisher an experienced executive specialising in large scale global change programs, offshore processing and cost reduction strategies.

The organisation has developed and launched proprietary software platform LiLLY’, which digitises and automates core components of the financial planning process, including the production of automated SoAs.

In conjunction with ‘LiLLY’, Intiger’s online practice management system ‘KLIP’ tracks key performance indicators of a financial planning practice and delivers oversight and control to both licensors and financial planning practices nationally.

Commenting on the HOA with Sentry, Intiger Chairman Mark Rantall said: “Intiger is excited at the prospect of working with Sentry to develop efficiencies, management data and cost savings to Sentry practices. Sentry is a large dealer group and this enables Intiger to demonstrate how we can industrialise back office efficiencies to enable financial advisers to deliver advice in a more efficient and cost effective way to more Australians”.

Sentry Group Executive Director and Head of Business Solutions David Newman said the first deliverable will be the establishment of a para planning service which will be priced competitively and designed to dovetail seamlessly into the operational frameworks of advisers. “This will be followed by a pilot program with a number of key practices to develop and fine tune the back office administration processes.

“Most importantly, all these new processes and work flows will be integrated into the overarching IRESS customised technology solution that was developed specifically for Sentry and branded SENTRAK (a copy of the June 14, 2016 announcement is attached).

David Newman expects the pilot program will be completed by early New Year with roll out to the entire Sentry adviser network to begin thereafter.

Murray Hills concluded, “Over the next few years, many advisers and licensees will exit the advice sector unable or unwilling to adapt as the era of professionalism gains momentum. In this environment, the advice practice that will benefit the most will be characterised by non-institutional alignment utilising modern processes, technology and resources to ensure positive client engagement and service outcomes.

“I am confident Sentry’s compelling marketplace offer together with Intiger’s technology and operational offering will play a key role in future proofing the businesses of Sentry advisers as they capitalise on opportunities brought about in response to evolving consumer expectations and demographic, legislative and economic changes”.

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Commenting further on the role, Murray Hills said it involves B2B, one-on-one consulting with the group’s practices and advisers across Australia. “Karen’s role will involve coaching and training advisers in portfolio structures and construction, in-depth product comparisons, asset allocation and investment strategies, and related products and services to address the needs of their clients.”

Sentry constantly surveys its advisers to ensure that its products, services and processes are keeping pace with marketplace changes and their practice management, client service and professional / personal development needs. Practice management was identified as a priority in the most recent survey with a focus on integrated wealth solutions as a priority. As a result, the position of Head of Wealth Solutions was established.

“Based at Sentry’s Perth Head Office, Karen will also be responsible for working closely with our advisers’ to develop and fine tune their client value propositions, practice productivity and efficiency, as well as assistance to identify and grow new business opportunities”, said Murray Hills

“In addition, Karen’s appointment is a reflection of Sentry’s commitment to our network of advisers to support them in the delivery of tailored, independent investment solutions and wealth management advisory – including the latest approaches to investment offerings”.

Karen has more than 20 years’ experience in the superannuation and financial services industry, including insurance, corporate superannuation, self-managed superannuation, administration platforms and funds management. Prior to joining Sentry, Karen was State Manager for Grant Samuel Funds Management and has also been a State Manager for Challenger Limited.

Karen holds a Diploma of Superannuation Management, Macquarie University, Bachelor of Commerce, UWA, and a Bachelor of Psychology, UWA.

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Murray Hills

The current low return outlook places a new urgency for dealer groups to help their advisers find new and innovative ways to reduce costs and improve performance for clients, says Sentry Group CEO Murray Hills.

With historically low cash rates, subdued share market returns and a slow Australian economy, it remains a challenging time for investors.

Sentry prides itself on offering advisers choice in best practice platforms and has been an early adopter of managed portfolios through platform partner HUB24.

“We specifically partnered with groups like HUB24, because we wanted our advisers to have the best tools available to deliver great after-tax returns for the client”.

“As an accountant by training, I have always been acutely aware of the need to get advisers and accountants collaborating together to make investment decisions that are informed by the potential individual tax impacts to a client,” Mr Hills said.

“We are strong believers in managed portfolios and have constructed 10 of these as part of the Compass Funds offering, which provides access to both Australian and diversified strategies via FPI Investments.

“This allows our advisers to outsource asset management and portfolio construction to specialist investment managers while still benefiting from the transparency, tax efficiency and portability provided by the exposure to direct assets.”

Mr Hills said Sentry chose HUB24 due to their sophisticated modelling tools to estimate CGT when switching from one managed portfolio to another or when selling assets.

“The system nets any assets at the account level, potentially reducing transaction costs and CGT by as much as 50 per cent when moving between managers, if they have substantially the same assets in their portfolios.” he said.

“This ability to model before a transaction is effected, allows advisers to use tax as one of their decision points between managers. The system also projects out 28 days to see if the tax position changes if the transaction was delayed for a month.”

The Compass Funds platform powered by HUB24, can dynamically select which tax parcels to trade based on the tax methodology of your choosing (ie, minimum gain, maximum gain or FIFO). This applies to any parcels within an account, whether they are held in discretionary portfolios or those managed by the adviser.

“We think that being a dealer group of choice is more than just delivering stability, training and compliance. It is about helping clients work with their accountants and advisers to achieve improved outcomes.

We must be innovative and accordingly we need client-focussed innovative partners,” Mr Hills said.

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Murray Hills

Financial planning group Sentry has broadened its range of investment options by partnering with OneVue Platform Services to deliver a new series of separately managed accounts (SMAs) to Sentry advisers.

The Sentry Group’s network of 250 non-aligned professional advisers will gain access to a suite of seven FPI SMAs on the OneVue platform. The Sentry Group of adviser services about $5 billion of client funds under advice.

Sentry Group Executive Chairman and CEO, Murray Hills says that by expanding its Compass private label range of platforms, Sentry is providing more choice in practice solutions to its advisers and their clients.
“Our SMA service continues to gather momentum and the combination of this with our platform partner OneVue represents a compelling and different proposition for advisers and their clients alike, while still delivering value for money,” Mr Hills says.

Sentry chose OneVue as a partner to develop the new Compass Fund products, which includes the seven FPI SMA Model portfolios on both its IDPS and Super offering.

OneVue, which delivers superannuation investors true choice and control by creating digital gateways between investors and their financial community, has a track record in developing contemporary solutions for advisers and their clients.

“We are pleased to have developed a bespoke range of SMA portfolios for Sentry advisers which will deliver value and transparency to their clients,” said OneVue Head of Product and Transactions Brett Marsh. The new range of SMAs aims to provide practice efficiency benefits for its advisers and reduce their compliance burden.

“We are seeing increasing demand from our white label business partners to create managed account solutions that reduce paperwork advisers are required to undertake in ongoing management of investment portfolios for client risk profiles,” Mr Marsh says. “Adviser interest in SMAs continues to increase over time as investors demand asset classes that are clearly visible within their portfolios.”

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OneVue is an independent wholesale platform and managed account provider who has a track record in developing contemporary solutions for advisers and their clients.

This new service follows a similar partnership recently finalised with Netwealth which extended the group’s existing range of services it receives from the platform provider.

Both new arrangements will be launched under the Compass private label and under these partnerships, the Group’s network of non-aligned advisers will get access to a suite of separately managed accounts (SMA’s) solutions managed by FPI Investments.

The Compass private label suite of platform solutions now totals four and compliments the existing arrangements with HUB24 and Asgard which have been in place for some time. It is an important extension of the existing services and solutions provided to the broader Sentry Group of 250 advisers servicing approximately $5 billion of client funds under advice.

Sentry Group Executive Chairman and CEO, Murray Hills said he was delighted with the new partnerships and by expanding its Compass private label range of platforms was now one of the few licensee groups in Australia offering a genuine choice of platform solutions to its network of advisers which catered for the broad spectrum of their client needs. In addition the suite aimed to provide practice efficiency benefits for its advisers and reduce the compliance burden required in managing client accounts.

Mr Hills said the partnerships have been established based on a strong alignment to what we want to achieve for both our advisers and their clients. Our SMA service continues to gather momentum and the combination of this with our platform partners represents a compelling proposition for advisers and their clients alike.

The new service with OneVue is planned to be rolled out in the coming months.

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Commenting further on the announcement, Mr. David Newman, Sentry Executive Director and Head of Business Development said IDS was selected as they have significant experience in financial services technology, advice and the wealth management industry. Most importantly, they provide one complete self-managed super fund solution with simple online Wizards that enable advisers to establish new SMFSs as well as transfer existing funds using a seamless process.

IDS Managing Director Mr. Sean Saxon said there will be a number of offerings developed for the dealer group that will be suitable for specific markets, commencing with a full service offering that will be marketed as Sentrum SMSF Plus, which will be available online to financial advisers, accountants and their clients.

“Whilst the number of SMSF funds has increased considerably over the past decade, growth is expected to explode in the coming years and Sentry advisers, through the Sentrum SMSF Plus offering will be positioned to leverage off this opportunity”, said Newman.

“Sentrum SMSF Plus represents a new paradigm in SMSF administration as an end-to-end scalable platform, which provides the dealer group and our advisers with a fully featured online ‘plug and play’ SMSF solution, allowing them to have full control over their client relationships”.

Sentrum SMSF Plus will be rolled out nationally in August across the Sentry adviser network and will be made available to those advisers that meet Sentry’s internal SMSF training requirements.

Commenting on the benefits to be derived by the dealer group, Saxon said the IDS Super platform had been developed from the ground up specifically to enable online, centralised, administration and management of multiple SMSFs, and included;

• a comprehensive suite of SMSF compliance tools
• the capability to monitor multiple SMSFs on a consolidated basis
• the ability to drill down to monitor the activities of individual funds
• system created regulatory documentation and archiving

“Using a single online platform, Sentry advisers will for the first time be able to manage the entire process of SMSF client administration; from fund establishment through to preparation of annual accounts, including all necessary trustee documentation”, said Saxon.

“Our feature rich client management suite plays an important part in enabling advisers to extend the traditional investment advice role provided in relation to SMSFs, to include advanced tax management and estate planning. Centralised access to multiple SMSF client data also provides dealer groups and their advisers with essential real time compliance monitoring and management capabilities.”

Full online member access via a Sentrum branded website will facilitate and enhance client adviser relationships and engagement.

“All research points to an extensive demand and growth in SMSFs by Australians over coming years as more sophisticated and educated consumers demand greater control over their retirement aspirations and investment journey. The IDS SMSF technology solution will assist Sentry advisers to capitalise on this demand and provide a compelling and comprehensive solution and offering for their clients”, concluded Hills.

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The Structured Referral System (SRS) initiative was developed following extensive research and insight by RERR and is the first of its type in the Australian marketplace.

In the past, financial services joint ventures and alliance programs with the real estate industry failed to realise their potential as the processes that provided new business referrals were cumbersome and complicated.

RERR has developed a unique business to business proposition for the national real estate sector and for financial advisers – but most importantly, provides a significant benefit to consumer clients of real estate agencies involved in the program. Commenting on the decision to make the facility available to carefully selected members of Sentry’s adviser network that meet a stringent criteria, Murray Hills said, “The RERR process delivers a win-win outcome for customers of the participating real estate agencies and the dealer group’s life risk insurance advisers.”

“In addition, the Sentry advisers that participate in the program will have a new source of referrals that will provide them with substantial business growth prospects.”

Each Sentry life risk insurance adviser will be allocated an exclusive referral base from locations throughout Australia. With each property purchase, the buyer will receive complimentary limited life insurance protection providing cover for 60 days. Sentry financial advisers will follow up the purchaser, activate the free cover and recommend an appointment to discuss and address their financial and risk protection needs.

Research has confirmed that consumers are significantly under-insured at the time they commit to a new property purchase and provision of complimentary protection cover will provide peace of mind until a more comprehensive solution is developed with a professional financial adviser.

The SRS has many advantages for real estate agents and financial advisers through its simple and uncomplicated processes, but most importantly, it delivers a consistent client experience across the network. Murray Hills also emphasised that due to the need to provide a specialised protection facility, life risk insurance advisers would be carefully selected from the dealer group and invited to join the program.

Furthermore, in view of the number of referral bases available, Hills confirmed that the dealer group would welcome other suitably qualified life risk insurance advisers interested in participating in the initiative under Sentry’s licensing arrangements. The ideal new recruit would be a life risk insurance specialist with at least three years experience who was looking for a continuous warm source of leads.

The program is currently being rolled out by Sentry and advisers in the program are required to undergo an extensive induction program conducted by Sentry and Business Health – one of Australia’s leading business improvement and practice management groups.

Murray Hills concluded, “Sentry is committed to providing programs and opportunities that assist our dealer group’s life risk insurance advisers to take advantage of new marketplace initiatives with outcomes that increase practice productivity and facilitates business growth.”

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