Clarion started when Michael Nemeth, a successful financial advisor, was trying to build up a referral relationship with an accountant in Subiaco.
“I just kept hitting road-blocks
- - vague commitments to helping his clients outside of accounting;
- - a JV so that he could earn money;
- - fending off fears about his clients being on-referred to other accountants;
- - making decisions about what his clients did or did not need – without even asking them”
"I would explain my services and how they helped but “Peter” never bothered to understand. Ironic because as a qualified accountant I knew how easy it would be to look at the bigger picture and ask the question that really mattered……seeing what help the client might want and would value.”
And so it began
Clarion was established by successful business people, each with deep experience in the financial services professions. And each had seen the many pitfalls that plague financial services businesses from successfully working together. All the while their clients were under-served; exposed; confused; annoyed.’
Clarion is a simple idea in 2 parts:
- A local Hub of financial services businesses focussed on helping each other’s clients and invested in the success of each other’s business.
- Each Hub being part of the larger Clarion Group, providing access to enhanced services from Clarion and leading to significantly increased value at the wider Clarion level and therefore also at the local Hub & Spoke level
CLIENT FOCUSEDBy taking a bigger view of our clients we identify areas in their financial lives that they want and for which they need help outside of our own area of expertise.
OPEN AND HONESTOne of the plagues between financial services professions is the distrust and misunderstanding that exists. By being open and honest we break those down and develop strong working bonds.
TEAMEach Spoke is invested in the success of the other Spokes in their Hub. Clarion is likewise invested in the success of each Hub and each Spoke. It makes sense that we all work together.
He then joined Australia’s largest independently-owned funds management business as CEO, building the business in six years from $900 million to $3.5 billion in funds and expanding through joint ventures in Australia and into the UK and South Africa. Since 2003, Alan has operated his own business strategy and mentoring business, with a great number of clients in financial services.
In his spare time he is an investor in a number of other businesses providing advice and expertise to enable them to grow and achieve their owner’s goals.
“I love helping people succeed in business – it makes a big difference to the rest of their lives”
$187,000 increase in book value in just 13 months
Before I joined Clarion I had a small financial planning business – just me and two support staff. Getting new clients would often be haphazard – random referrals from clients and a spasmodic one from a local mortgage broker. Getting other professionals to refer clients to me was just hard.
Within weeks of Forrest Accounting Partners joining our Hub, there was a steady flow of referrals back and forth between the Hub’s Spokes. By month 13 the value of my book had grown by $187,000, an increase of more than 20%
More than that, my clients were happier and giving me more referrals as well.”
Ben Bryant C.F.P.
I thought he was mad – but it works
“Michael Nemeth and I have been firm friends and brothers in arms with our visionary approach to wealth creation for years. However I must admit that when he first mentioned the Hub & Spokes idea I thought (a) he was mad, and (b) here we go again.
After all, financial planners and accountants can often conduct ideological warfare against each other; and aren’t brokers just glorified salesman chasing commissions rather than offering service ?
Then on top of that, mutual referrals is not a new idea. Melbourne is littered with referral JV’s going nowhere.
Still I humoured him and listened. I knew that getting the right people is important but Michael made it work and the proof was in the numbers and in the happy clients. So, with support from Clarion and its systems and business practices, I became a convert and started my own Hub here in Richmond, Melbourne…..and it has exceeded my most optimistic expectations.
I want to know more about how to:
- Release money from my business
- Grow the value of my business
- Join a supportive team
- Help my clients beyond my area of expertise