Macquarie Private Wealth has hired business consultant Advice Centre Consulting (ACC).
ACC conducted a diagnosis of the division's marketing and sales, finance, performance management, operations management, advice and service, and also people and culture management.
"I always say a $3 million business is not a $1 million business on steroids. The businesses are run very differently," ACC principal David Fox said.
"A lot of $1 million businesses achieve their initial success despite what they do rather than because of what they do."
The model's results are expected to take three to five years to come to fruition.
ACC has four clients, including Hobart advice business, Davey & Scurrah.
Fox said he believes business principals have to experience a "mindset shift" to change their strategy and processes before they can achieve exponential growth.
Fox held several senior positions with Sealcorp during the 1990s. He joined MLC in 1999 to establish the ThreeSixty business development and consulting team.
