1. Introduction
This report will be evaluating a 21st century leader by describing, “Leadership is a process not a position”. This is demonstrated through evaluating and analysing the Head of Financial Planning (HFP) for Moneysolutions through different theories and models.
Moneysolutions is a financial planning firm, part of Link Group providing retirement advice to CBUS Superannuation fund. As consequence of a recent acquisition by Link group of Futureplus Financial Planning, which provided retirement advice to State Super, the team doubled in size in a short timeframe. This required a leader with specialized skills and expertise to handle the merger process and build the business moving forward. It would be a medium sized business …show more content…
Traditionally advisers provided advice through products charging high fees and commissions and targeted High Net Worth Clients. Moneysolutions model was client paid for all advice. In Futureplus Financial Planning, Superannuation funds paid for all advice on behalf of their members through fixed contracts.
The operational and the remuneration model were also completely different for advisers. Existing Moneysolutions advisers had low base salaries, high sales pressure in a transactional environment. Futureplus advisers transferring to Moneysolutions had high base salaries no sales pressure and operated under a service model. Futureplus was previously State owned with generous funding and lacked productivity and accountability, on the other hand Moneysolutions had a very tight budget and revenue varied each month. The challenge for HFP was to bring both business models operating under one banner
Moneysolutions operates as a formal organisation with different levels of authority to make decisions within Link group. However, it had its own sub-culture with mixture of age and levels of experience, as it is the only sales driven department within Link …show more content…
Financial advisers migrated with HFP were treated more favourably and were with the In-group in the Routinisation stage, while advisers within Moneysolutions were in the role making stage. This was due to the fact the leader viewed the existing advisers less educated and lacking experience advising high net worth clients.
2.4 The Multiple Influence Model
The HFP was appointed to merge the two business models together and grow the business. HFP not only had to deal with the merger process but also implement new legislative changes introduced by the government, which had a major impact on Financial Planning practices. Therefore the HFP had to operate with both micro (Internal Factors) and macro variables (External Factors), which influenced his behaviour.
The next section starts analysing and evaluating the HFP against relevant leadership models.
3. Power and influence tactics
3.1
This report will be evaluating a 21st century leader by describing, “Leadership is a process not a position”. This is demonstrated through evaluating and analysing the Head of Financial Planning (HFP) for Moneysolutions through different theories and models.
Moneysolutions is a financial planning firm, part of Link Group providing retirement advice to CBUS Superannuation fund. As consequence of a recent acquisition by Link group of Futureplus Financial Planning, which provided retirement advice to State Super, the team doubled in size in a short timeframe. This required a leader with specialized skills and expertise to handle the merger process and build the business moving forward. It would be a medium sized business …show more content…
Traditionally advisers provided advice through products charging high fees and commissions and targeted High Net Worth Clients. Moneysolutions model was client paid for all advice. In Futureplus Financial Planning, Superannuation funds paid for all advice on behalf of their members through fixed contracts.
The operational and the remuneration model were also completely different for advisers. Existing Moneysolutions advisers had low base salaries, high sales pressure in a transactional environment. Futureplus advisers transferring to Moneysolutions had high base salaries no sales pressure and operated under a service model. Futureplus was previously State owned with generous funding and lacked productivity and accountability, on the other hand Moneysolutions had a very tight budget and revenue varied each month. The challenge for HFP was to bring both business models operating under one banner
Moneysolutions operates as a formal organisation with different levels of authority to make decisions within Link group. However, it had its own sub-culture with mixture of age and levels of experience, as it is the only sales driven department within Link …show more content…
Financial advisers migrated with HFP were treated more favourably and were with the In-group in the Routinisation stage, while advisers within Moneysolutions were in the role making stage. This was due to the fact the leader viewed the existing advisers less educated and lacking experience advising high net worth clients.
2.4 The Multiple Influence Model
The HFP was appointed to merge the two business models together and grow the business. HFP not only had to deal with the merger process but also implement new legislative changes introduced by the government, which had a major impact on Financial Planning practices. Therefore the HFP had to operate with both micro (Internal Factors) and macro variables (External Factors), which influenced his behaviour.
The next section starts analysing and evaluating the HFP against relevant leadership models.
3. Power and influence tactics
3.1