Rowland Financial Advisory was named New Practice of the Year for 2014, taking out both the national and state awards at the annual Financial Wisdom conference. Despite only being established in 2013, Rowland Financial Advisory has moved ahead in leaps and bounds after the successful transition from an employee role, to a fully-fledged, freestanding business within the first six months of operation. The practice has already established a strong brand, clear strategic direction, and plans for future growth, all driven by the focus and foresight of it’s principal, Michael Rowland.
When his previous employer closed the doors to their business, Michael made the most of an otherwise sombre situation and bought his client book in Maroochydore. From this, he created a brand new business, with the help of fellow advisor David Thompson, and that’s when Rowland Financial Advisory was born.
After choosing their licensee, they had the option of a one-year transition period to co-brand with their previous employer – an easy option that many may take - however, they decided to make a fresh start and build the business from scratch; “Our thought was, ‘Let’s do it right now because otherwise we’ll just have to do it in 12 months anyway’ – and that would have been 12 months lost,” said Michael. “So we took over the lease for the premises, we got our own IT and equipment set up, we rebranded – the whole bit. It was a huge amount of work, but by January this year we were basically a free-standing business in our own right.”
According to Financial Wisdom’s State Manager for Queensland, Jason Evans, it was their sheer determination and commitment to the business that helped win Rowland Financial Advisory these prestigious awards. “What’s impressed me the most about Michael has been his commitment to investing a significant amount of time to develop the strategic direction of the business,” said Jason. “Starting a new business is challenging and he has embraced the responsibility of making important decisions early in the life of the business, which will position it for success over the long term.”
However, success is a journey, not a destination, and therefore planning plays a critical role. Through ongoing, meticulous strategy sessions, the team at Rowland Financial Advisory works together to build their longer-term vision, and a unified understanding of why they’re doing what they do. And even with so many plans in the pipeline, Michael’s primary focus remains on helping to make more Australians wise through quality financial advice; “It’s all about engaging with your client and getting to the root of what they’re looking for,” Michael said.
For Rowland Financial Advisory, it was the commitment to their clients, the unique marketing and business plan and their passion for the industry that stood out against the other nominees, making them a clear winner!