>In a statement issued yesterday, Futuro said in implementing its new strategy the company has introduced a new fee structure for all of its authorised representatives in order to boost efficiency and manage risk.
“It works by offering dealer fee rebates for planners who adopt proper operating practices, including achieving high compliance ratings,” the statement from Futuro said.
Another part of the strategy Futuro highlighted is the introduction of a “virtual office” which it said it has been trialling over the last nine months.
“[It] has achieved extraordinary results,” the statement said.
“A virtual personal assistant handles many administrative duties, freeing up advisers to spend more time in front of their clients and to develop their businesses."
Futuro also said in support of the changes it has been making, the company has restructured its senior management team with Matt Haggarty taking charge of the eastern states of Australia and Manoj Pillai taking responsibility for Western Australia and South Australia.
“While they will be responsible for recruiting, their first responsibility will be development of our advisers’ practices, as well as marketing and process,” the statement said.
The company’s new strategy follows recent news that Futuro has ended a plan for a five-year managed buyout by AMP.