Synchron Ranks in Top 3 Dealer Groups

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Synchron Investment and Insurance Solutions (Synchron), is now the third largest non-institutionally owned licensee by adviser numbers in Australia, according to IFA Magazine’s annual Top 100 Licensee Survey 2010 (the survey), and has the fastest growth rate in this category.

Results of the survey published late last year reveal Synchron grew its advisers by a very healthy 29% (38 advisers) in the survey year (1/7/2009-30/6/2010). In percentage terms, this makes Synchron not only the fastest growing non-institutional licensee, but also the third fastest overall, rubbing shoulders with big time players Bridges Financial Services which ranked second for growth in percentage terms and Macquarie Private Wealth which took the line honours.

The survey also reveals that Synchron has leapfrogged up the licensee ladder from position 33 in 2008 to now rank as the 25th largest licensee in the country.

“At Synchron we believe the adviser/licensee relationship is symbiotic: one cannot survive without the other,” Synchron director Don Trapnell says. “This means that as a licensee, we are as passionate and committed to the success of our advisers as they are. The results of the IFA survey clearly show that we are doing something right.”

Synchron is a risk-focused licensee which nurtures and supports its advisers by:

Being the only dealer group in Australia to pay its advisers daily
Offering a “NextGen” program to younger advisers, which offers education, soft skills training, coaching/mentoring and leads in a supportive culture
Encouraging and supporting soft skills training as well as technical/compliance training

In the interests of improving efficiencies for its advisers, Synchron recently gave all its NextGen conference attendees the latest Apple iPad.

“Going forward, we will continue to invest in our advisers and their practices by delivering the service and tools they need so that we can all continue to grow,” Mr Trapnell says. “We have the right staff, the right people in the right places doing the right jobs. Our state management team is a highly respected group of financial services professionals and our external contractors, Michael Harrison, Neil Mc Kay and 64 Media’s Julie Bennett are all committed to the task.”

IFA Magazine 22 November 2010

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