Matt Cummins and his partners started their Sydney-based financial planning practice, Millenium Wealth, two years ago. Here, Matt describes how he came to call Centrepoint Alliance home, and how the Centrepoint Difference is helping him deliver a first-class experience to his clients.
Hi Matt, can you tell us how Millenium Wealth came about?
My partners and I were all in-house advisers at one of the big institutions. It was a role I have always loved. Money is a pretty complex thing, technically and emotionally. To be able to help clients conquer that complexity, take control of their finances and achieve their dreams is incredibly satisfying.
It was clear that the advice world was changing, and the Royal Commission certainly threw a spotlight on the profession which was challenging for some. But we never doubted that the demand for quality advice would not only remain strong, but it would continue to grow. And it quickly became clear that the best way to fulfil our ambitions - to make advice more accessible and meaningful to our clients - was to start our own advice business.
Why did you choose Centrepoint Alliance to power those ambitions?
When we were looking for a licensee, we considered a number of companies.
As a business known for backing advice, and advisers, Centrepoint Alliance were on our radar from the very start.
We obviously liked the fact that Centrepoint Alliance is well respected and has a strong track record. We felt our clients would get real confidence knowing we were backed by something bigger.
The process that Centrepoint Alliance put us through was quite rigorous, and that in itself gave us confidence, knowing that the benchmark was high and that we were joining a community of the highest quality.
The support we received throughout the process was incredible. The Centrepoint Alliance executive team were really interested in us and they got involved from day one. They have always been very accessible to us.
Our Centrepoint Alliance Business Consultant - Cam Cogle - has been like an extra business partner, and he helped us build the strategy for the new business.
But probably the biggest factor was what I call ‘The Centrepoint difference’.
What do see as the Centrepoint Difference?
What makes Centrepoint Alliance different is their philosophy of ‘supporting not shaping’ advisers.
I think some licensees can be a bit controlling, which can sometimes stifle your ability to run your practice, and help your clients, in the way you want to. Centrepoint Alliance, on the other hand, trust us and encourage us.
Centrepoint Alliance don’t just allow their advisers to take control, they empower them to seize opportunities and pursue the path they want to pursue, and that’s incredibly refreshing.
How important is the support you get from Centrepoint Alliance?
Advisers have a lot on their plate at the moment. There are a lot of distractions which can take you away from your core focus, which is delivering excellence to your clients.
The support from Centrepoint Alliance really takes a massive load off my shoulders, so I can concentrate on what I love, and what I’m good at, providing advice.
The support is obviously comprehensive, across everything from compliance and education to IT, technical, investment management and even marketing.
It’s very flexible, I can dial it up or down depending on what support I need. And the Centrepoint Alliance teams are very responsive and really take ownership of issues.
And what about strategic support?
The support we get from Cam Cogle, our Business Consultant, is vital to our business. He helped us get started and how he helps us navigate the evolving landscape.
We have regular catch ups to go through the Dashboard. It’s a data tool which captures all your key business metrics and distils them into actionable insights into your business. The Dashboard has all the obvious numbers that are crucial to running a business, but it goes beyond that and can help you with things like client segmentation and business risk assessment.
It’s incredibly powerful, and unique to Centrepoint Alliance.
Cam also helps us at a strategic level. He’s helping guide our plans, both as a conduit to the all the support Centrepoint can offer us, but also through his own experience and industry connections. To be able to lean on and leverage all that experience as and when we need it is very powerful.
Are you excited about the future?
I’m very excited about the future. We are doing well as a business and have some exciting growth ambitions. The support I get from Centrepoint Alliance gives me the confidence to meet the challengers of an evolving landscape and empowers me to take opportunities, but, most importantly, enables me to maintain an unwavering focus on delivering a first-class experience to my clients.
Experience the Centrepoint Difference
You can find out more about The Centrepoint Difference here or contact us for a chat about how Centrepoint Alliance can provide you with the support you need to achieve your vision for the future.