The largest non-institutionally owned dealer group in the financial services sector has set out “aggressive plans to set a new standard in the industry”.
“The changes in the industry present an unprecedented opportunity for us to leverage our position in the market, and we are now well-placed to do just that,” PIS chief executive Peter Walther said.
The network will have access to new software, templates, strategy libraries, integrated planning services, first party and third party human resources, marketing and communication support, and service oriented practice support to aid businesses growth.
PIS will also look at beefing up specific areas of its advice offering as the group streamlines its operations.
“We are now appropriately emphasising risk advice as a core component within our overall strategic advice framework. We are supporting our network in embracing change in order to grow and prosper,” Mr Walther said.
Last week PIS announced a management restructure, including four redundancies, to reshape the organisation as part of its strategy to deliver a strong service vision for its clients.
“We have in effect flattened the organisation’s structure to improve how we interface with our clients and we are implementing a regional leadership model as part of this change,” he said.
“Whilst we tried hard to minimise the direct impact to staff, four staff members were made redundant,” he said.
“We have quarantined issues that are a legacy of the previous management of the business so they can be managed in a strategic manner. We are now focused on our future,” he said.
“I am leading PIS through a very intentional program of cultural change, anchored to changing the skill sets and service culture of the organisation,” he said.
As part of the restructure, Mr Walther said the advice business will be separated into three individual departments: client engagement, client recruitment and client strategy and solutions.
Former-PIS group general manager of advice Stephen Poole will assume leadership of client engagement effective immediately.
Leadership of client recruitment and client strategy and solutions will be finalised in the near future.
“All three roles comprise critical elements of our future business as we strive to be the best non bank-owned advice services business in Australia,” Mr Walther said.
When asked if further redundancies are expected, a PIS spokesperson told InvestorDaily that the changes are not part of a larger reorganisation within PIS.
