AFS Group practice principals have shared their views about the impact of Boards of Advice on their businesses.
Attending the dealer group’s recent Summer School program, three practice principals have given the thumbs up, reporting the positive impact of their respective Boards of Advice.
While the prospect of external analysis of an adviser’s business may not be a ‘comfortable’ experience for many practices, the three principals have all agreed the benefits are substantial.
At first the BoA was quite confronting…
AFS practice principal, Steve O’Donoghue, said “At first the BoA was quite confronting but the members of my BoA helped me to articulate the business vision and then to transform my goals into objectives. This was quickly followed by the alignment of the practice framework including the roles and functions of staff.”
Mr O’Donoghue’s comments were reinforced by colleague Jeff Orr, who confirmed that his own practice is now far more effective and successful as his energy and focus is directed at working on the business and not in the business.
Practice owner, Scott Parry, likened the members of his BoA to personal coaches: “The best of the best realize and acknowledge that coaches lift performance and improvement, fast tracking success and growth,” said Mr Parry.
AFS Group has been a public advocate for the value of Boards of Advice for some time, driven by its CEO and Managing Director, Peter Daly (see Revenue Growth Numbers Prove Value of Boards of Advice).
