Often the most simple answer is the correct answer, not enough time for Mark to dedicate his time to everything and sometimes the job they came in to do is complete on their part.
Mark has been with Star Striker/Intiger Group Ltd now for a year, he came in to help get the business setup and going, during that time he's also taken up other business posts and projects, whether that is being on the board or producing these financial tv show interviews, he also has a family (hence family interests) that he probably wants to spend more time with.
He's likely seen he has done all he can do for Intiger to help them progress and continue building as a business and decided to step down to spend more time with family and with his other projects.
People come and go in businesses all the time, they are brought in to help do a job and once that is done and they feel they no longer can provide anything more they step aside to allow the business to keep growing.
Yes Mark is highly connected in the financial industry, but so is Patrick Canion and sometimes having too many cooks in the kitchen can hurt the business.
Patrick is very high profile in the financial industry, he's the CEO, founder and director of ipacWA, he's constantly in the limelight in terms of media appearances such as the TODAY show on channel 9 on numerous occasions discussing the general financial industry.
After digesting it further I'm pretty happy that Patrick takes over the Chair position, it's far better to have a Chairman who knows how the business works and operates down to a tee, given his own business ipacWA were one of the first clients and he has been integral to helping Intiger fine tune it's services by trialing first with ipacWA for a few years to the point of being ready to take Sentry Group on as a pilot program (producing real work) and now NAB on a trial basis.
When new clients large or small are looking at Intiger and they see ipacWA, the Winner of the FPA Professional Practice of the Year Award 2016, and that this leading financial practice's CEO, Director and founder is also the Chairman of Intiger Group Ltd, well that speaks more volumes to Intiger and a greater vote of confidence in Intigers services and to other potential clients.
It's one thing to just be a non-executive director, but to take on the Chair position has more responsibilities and it's great that Patrick has accepted to take this role on.
Yes we lose Mark, but we're not even sure how much Mark has done, perhaps Patrick has been the one pulling all the strings and bringing in the clients, he is well connected in the industry and is leading by example with his own practice ipacWA being a client, he's a smart businessman and wouldn't put his business into jeopardy if Intiger were not providing good services that actually helped his business and delivered what Intiger promises with reducing costs up to 40% and increasing efficiency in time and allowing the business to focus on more efficient areas with both spending & people.
Patrick's words from an Interview last year on Intiger:
“I’ve hired a brand new Certified
Financial Planner, a new business adviser,
and I’ve spent more on marketing. Our
new business is significantly higher this
year compared to last.”
Canion says the business now focuses more on the areas where it believes it
genuinely adds value.
“We still do the stuff that is directly
related to implementing investments, so
that really high care stuff, we do,” he says.
Lots of people here choosing to spin things to the negative view, calling anyone who discusses it positively as an upramper, Pot calling the kettle Black here.
Personally rather have someone like Patrick Canion as the Chairman, who has complete vested interest as a shareholder of Intiger but also as a very large client with his own business that relies now on Intigers services, ipacWA aren't trialing like Sentry Group, they have fully implemented Intigers services over the last few years.
IAM Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
(20min delay)