Press Release (ePRNews.com) - Miami, Florida - Feb 21, 2017 - The Edge Consultancy has recently been hired to advise the Alliance of Fraternal Associations on the development of a new strategy including how to cope with Transformational Change
“We considered several consulting firms — large and small — and selected Edge Consultancy because of the expertise in the financial services industry and their understanding of the unique challenges of trade associations like ours. Moreover, Vim Anand and his team demonstrated a passion for our project that none of the other firms could match. And that is what really made the difference for me,” says Joe Annotti, President of AFA.
Joe Annotti recently wrote this description of the change his members are going through.
The Drivers of “Transformational Change”…
Posted on January 9, 2017 by Joe Annotti
Some would argue that transformational change is driven by desperation; something akin to the mood struck by Bob Dylan when he sings, “When you ain’t got nothing, you got nothing to lose.”
The transformational change initiative being undertaken by the Alliance Board is being driven not by despair, but by courage and foresight. Today the Alliance is a strong and financially healthy organization. Every year nearly 100% of members renew their membership. And those that don’t renew typically merge with another member society. Our membership satisfaction survey scores are off the chart. Alliance members tell us that they are exceptionally satisfied with the organization’s advocacy initiatives, education and information programs, and opportunities for engagement. Almost every current member reports that the cost of dues is an excellent value. These are results that would make trade association leaders in virtually any industry green with envy.
The leadership of the Alliance is wise enough to know that the time to plan for the future is when the larder is full, and brave enough to take an honest look at what lies ahead. Because even though the Alliance rarely, if ever, loses a member due to dissatisfaction with the organization’s policies or benefits, we have the fewest number of members – 64 – in our more than 125 year history. Sure, there are a handful of fraternals that are not members of the Alliance, but the opportunities to grow the organization by increasing the members are limited, to say the least.
Moreover, it’s a virtual certainty that consolidation within the fraternal sector will continue. The current pace of mergers – 1-2 per year – may remain steady for the next few years. However, the economies of scale necessary to survive in the life insurance and annuity business, combined with an increasingly complex and costly regulatory system, and the declining brand awareness and relevance of “traditional” bonds with consumers is almost certain to result in further consolidation.
The Edge advises many Trade Associations on how to strategize and deal with the realities in their market place.
About Edge Consultancy
Edge Consultancy, is headquartered in Miami Beach, Florida and is the premier consulting organization created to address the most complex issues facing financial institutions today by creating the most experienced and proven advisors in the Industry. Their unique consultative and inclusive approach has produced powerful and measurable results. To learn more about how the Edge Consultancy can help you, go to www.edgeconsultancyllc.com.
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