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Sam Zervides elected IPA Victorian president
Australian Wealth Solutions (AWS) principal, Sam Zervides, has been elected president of the Victorian branch of the Institute of Public Accountants (IPA), where he would provide input to the national organisation on initiatives, programs and policies for the benefit of the association’s members.
Zervides said he was pleased to be taking on this role at such a pivotal and important time for the profession.
“The issues that keep so many accountants awake at night is how to deal with the constant change whilst transforming their businesses to remain viable and profitable,” he said.
Zervides said that for IPA member firms to remain sustainable, profitable enterprises by delivering holistic and relevant advice for their clients, accountants needed to become a “trusted business partner”.
“The power of the ‘trusted business partner’ will be realised through alliances with mortgage brokers, specialist lenders, investment managers, insurers, corporate solicitors, and many more; underpinning new services and facilities, that in turn generates more revenue,” he said.
“To this end, accountants will be working more efficiently, have capacity to take on more clients, and charge appropriately, for providing greater value to their clients.”
Previously operating under GWM Adviser Services Limited, AWS announced on Monday that it will move forward under the AFSL of Melbourne-headquartered boutique licensee, ASVW Financial Services Pty Ltd (ASVWFS), effective this month. AWS principal and founder Sam Zervides said the move is the first step in a long-term strategy for the advice practise to adapt to changing client expectations. “It’s for this reason that I’m focusing my energies on the future and being ahead of the curve in responding to the needs of an increasingly sophisticated and mature client – many of whom reside interstate and overseas but still demand the highest standards of personal and accessible advisory services,” Mr Zervides said. “The AWS team are very excited about the move to ASVWFS and the prospects for the future. “In particular the benefits that will be derived through the application of new technologies designed to significantly improve the client experience and connectivity; enhance/streamline administrative processes; and accelerate the delivery of additional lifestyle and financial service offerings”. ASVWFS chief executive and director Stuart Abley also welcomed AWS’ move to the national licensee on Monday. “Sam and the AWS team embody the very important fundamentals we are seeking in the practices that join our national network i.e. committed to building exemplary advice businesses that deliver the highest standards of compliant professional financial advice and client service,” Mr Abley said.
AWS said the move which was in line with its long-term strategy to address the needs of more sophisticated clients. Commenting on the move, Stuart Abley, chief executive officer and director at ASVWFS, said that AWS represented all the important fundamentals sought in the practices joining its national network. “It’s for this reason that I’m focussing my energies on the future and being ahead of the curve in responding to the needs of an increasingly sophisticated and mature client – many of whom reside interstate and overseas but still demand the highest standards of personal and accessible advisory services,” Zervides said and added that changes in client expectations were irreversible and they were shaping the structure of advice businesses. Zervides also said his first two critical priorities after joining ASVWFS would be to further improve the client experience through the utilisation of advanced technology, latest processes and innovation to improve engagement, outcomes and service. Following this, new complementary financial and lifestyle services as well as value-add offerings were being developed to include a private wealth and finance offering, which would be provided in-house or in partnership with appropriate alliance partners. “The AWS team are very excited about the move to ASVWFS and the prospects for the future. In particular the benefits that will be derived through the application of new technologies designed to significantly improve the client experience and connectivity; enhance/streamline administrative processes; and accelerate the delivery of additional lifestyle and financial service offerings,” Zervides said.
While many accountants have been proactive in restructuring their businesses to ensure they are “relevant and successful” in the future, Institute of Public Accountants Victorian Vice President, Sam Zervides, warned that “a significantly greater number” are failing to act. The Australian Wealth Solutions principal said that, faced with industry disruption exasperated by technology, expiration of the self-managed superannuation fund (SMSF) exemption, Future of Financial Advice and the Royal Commission, the public accountant sector “has no option but to respond and adapt”. “My greatest concern is that very good accountants with mature businesses are simply going to ‘miss the boat’. Instead of a successful exit into retirement funded from the sale of their businesses, [they] will have no option but to switch off the lights and close their doors,” Zervides said. “However, it’s not all doom and gloom and I’m pleased to see accountants in increasing numbers are acting by restructuring, adopting new technology and processes.” Mentor Education Group founder and principal, Mark Sinclair, said that he had seen a trend in accountants enrolling in programs with an emphasis on building productivity and operational efficiency. Article Source: Money Management
Advice businesses needed to be proactive and could not rest on their laurels if they wanted to thrive in a post-Future of Financial Advice-life insurance framework world, according to Australian Wealth Solutions (AWS) founder and principal Sam Zervides. Zervides said the challenge of staying relevant in relation to current and future trends and forecasts required business acumen, and while growth was the goal, it should be vigilantly managed so new planners and staff shared the same culture and values. He said his vision for the boutique financial planning firm, which was established in 2004, was to provide quality bespoke financial planning solutions and services to businesses and individuals. “Most importantly, we have never lost sight of our commitment to these core values as they are our columns of strength and together with our highly regarded presence and reputation in the local [Melbourne] south-eastern suburban community has resulted in a steady stream of client and alliance inquiries,” he said. He said he expected the future would be more complex for individuals and business that were seeking solutions from an overwhelming array of financial service products and offerings. “As a result, professional advice will be more important than ever to find the best solution required to address self-employed, commercial, superannuation, wealth-creation, insurance protection and retirement needs and goals,” he said. He revealed AWS would use modern technological developments to allow staff to spend more time with their clients. The company was committed to keep forging alliances, which he said he believed was vital for investing in relationships. “It is impossible for professional service organisations to be all things to all people,” he said. Service providers needed to specialise in their knowledge areas by using local networks and alliances, while also ensuring they had the client’s best interest at heart, he noted. “With such a strong local community presence and reputation as a leading financial advice practitioner, I’m confident AWS will be the preferred financial advice partner for more and more accounting, legal and real estate businesses,” he said. He added the firm would appoint a new financial planner next month. Article Source: Financial Observer
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