Practice Manager Meeting .
Facilitator :Mr.Mark Toh- Head Strategic Agency & Private Retirement Scheme, AIA Berhad
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| Mark Toh with practice manager of Standard Financial Planner S/B. |
SWOT analysis (alternately SWOT Matrix) is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a business venture.
It involves specifying the objective of the business venture and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.
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| Reference: http://en.wikipedia.org/wiki/SWOT_analysis |
STRENGTH
- Provide choices to customers and independent advice.
- New business mode - transformation from tied agency business.
- Wide acceptability.
- Integration one stop center services.
- Team work
- Need base process / advise driven sales
- Duty of care
- Client ownership
- Consolidation of client portfolio
- Many unhappy clients in the market
- Large pool of people to recruit for practice team, eg :70K tied life agents, 40K unit tust agents, 5k relationship manager in banking industry
- Timely- right time, right people , right business environment , unlimited income potential.
- Branding
- Financial resources / capital constraint
- NATO ( know too much, think too much, no action)
- Complacency
- Flaunt business model
- Lack discipline & activities
- Identity crisis
- Institution competition
- External/offshore investment institution competition, eg : in ASEAN Financial Forum , may allow off shore brokers coming in Malaysia to compete.
- Survival
- Stricter compliance requirement from regulator (in fact turn to opportunity to win clients services with quality advice and solution provided )
- Increase cost of operating business with types of licenses / continuous education hours to maintain yearly.
- FA messes with own mind.
- Products provider inpatient and might stop the supports should FA progress in Malaysia too slow in development .
