4 April, 2018 07:00
The integration of groupings of centres , SFL will take several months at Quebec and at least the year 2018 in English Canada. Disparities in the systems and practices within the different centres need to be ironed out.
The integration is progressing well in Quebec. It is said Michael Rogers, owner of SFL, and vice-president of sales and distribution network for Desjardins financial Security (DFS), in interview to the Newspaper of insurance.
“We adopt the best processes of each of the centres within new constituencies. Before these, the offers differed a little from one centre to the other. Good deals were, but also less good. “
The Network SFL from 37 to 14 centres across Canada. The number of its centres in Quebec increases from 16 to 6, while it rose from 21 to 8, excluding Quebec. Mr. Rogers also stated that Desjardins does not provide for other integrations.
The integration will take place in six to nine months, in Québec, ” says Mr. Rogers. “During this time, the centers continue to operate in parallel. It will take a little more time outside of Quebec. At least to 2018 to complete. The greater distances between the centres grouped together. The combinations lead to a larger change of culture outside of Quebec. The people of the different centres to get to know may be less than in Quebec, where the model operates for a longer time, ” explained Mr. Rogers.
No large-scale departure
Michael Rogers also denies that many advisers who are dissatisfied are parties to the competitors, under the pressure of the groupings. “This is not the case. We have recruited people from other competitors. We are committed to respecting the independence to attract advisors, but also when they decide to leave. “
He added that recruitment remains a force in SFL. “We have had good success in finishing in 2017 with 110 advisors. Since 2011-2012, the network oscillates always between 90 and 120 advisors. In 2016, we turned over around 90. Recruitment has always been our strength. We recruit university graduates, but also experienced advisors with large blocks of business. “
According to him, the market for the distribution of insurance and mutual fund turns at speed large V. ” We see that with the acquisition of financial Group Horizons and, more recently, Group PPI. From our side, we are fortunate to have a network and team in place, already integrated. Every time there is the purchase of a network, we receive 20 to 30 calls from advisers, ” revealed Mr. Rogers.
SFL promotes the independence
A network such as the his is a place where the advisor may know the growth, said Mr. Rogers. “We have had success with our hybrid model, thanks to the respect of independence. The advisors may sell brokerage all our competitors, whether in insurance or in a fund. Our programs recognition reward also. It is necessary that the advisors operate in a network where they can listen to the needs of advisers and satisfy them according to the offers that there are on the shelves. “