Growing your business with confidence through broker network integration. Paul Sutton, QFA FLIA

Transcription

1 Growing your business with confidence through broker network integration Paul Sutton, QFA FLIA

2 Current challenges Downturn in Economic Environment Replacement of lost income Client retention Client relationship management Diversification Offer advice in all areas Analyse your client base/ identifying their needs Analyse your own sales success by product Realise a value in your business

3 Issues facing our industry Market consolidation Tighter compliance requirements Customer loyalty Reduced customer service and support Customer education Brand weakness

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5 FACT The days are numbered for Advisors who do not raise their game WHY? Regulatory pressure Qualifications Pressure on commissions

6 FACT The days are numbered for Advisors who do not raise their game However, the BIG problem is this Consumer expectations are rapidly increasing More value Better service Easy to understand solutions

7 How can you deliver this? How do you constantly add and demonstrate real client value? How do you adopt and deliver an outstanding financial planning service? How do you position, promote and get well paid for this service, year after year? How do you move from a traditional product oriented broker to a profitable, client focused professional financial advisor?

8 Membership Benefits

9 Opportunity Overview Irish Broker Market Network We are currently developing a nationwide advisory broker brand in the Irish financial services industry. The group is already on track to become the largest truly independent broker group in Ireland with a planned 78 member firms and a total of 117 professional advisors in the Network (year 3) Network membership enhances broker productivity and a core strategic network function is to assist brokers in increasing their market presence, turnover and profitability. Network membership will provide broker member firms access to Business planning, sales and marketing strategies Specialist technical and compliance resources Dual and enhanced revenue models Access to exclusive and unique products Customised adoption of technology

10 Membership opportunities Limited Geographic recruitment and selection

11 Network membership forecast Premium member and associate membership firms Geographic Region Premium members in Dublin City & County Premium members in East Premium members in Midlands Nationwide Presence December 2015: 78 member firms 26 premium members 52 associate members Average QFA/CFP per office =1.5 Total member advisors = 117 Premium members in South Premium members in West Associate members Cumulative total

12 Our 3 Key Principles Clarity Confidence Credibility

13 Recognise this.? Basic view of broker time spent 27% Sales 32% Compliance Research Management Client Facing 18% 23% ONLY 27 % on Bus Dev

14 Where network membership helps you Grow your business development time Sales 20% 3% 8% 8% 20% Compliance Research Management Client Facing 41% Bus Dev & Referrals Recruitment and expansion

15 % Creating simplicity out of complexity How top Advisors said they grew their business 42% : Refining Strategic Plan 40% : Allocate more advisor time to business development 34% : Implement a new marketing strategy 22% : Formalise a new referral relationship with another professional firm / practice 42% 40% 34% 22% 17% Top 5 Business Growth Initiatives % :Implement new sales tools / CRM Ameriprise Financial White Paper Sept 2011

16 Creating Revenue out of efficiency Advisor 2011 research learning outcomes Importance of Strategic business and marketing plans Growing time with new and existing customers Increasing Referral channel opportunities The importance of Compliance, Investment Research, CRM, Client Documentation. The Strategic planning, marketing power and in-house resources of the network will benefit members in multiples of annual membership spend.

17 The visible Brand Clarity, Confidence, Credibility From Office Processes to Client contact. Professionally designed marketing material, terms of business, full stationery pack, standardised client document templates, and letter templates and website support. Nationwide web presence, blog, marketing and advertising campaigns. A new clear, confident and credible industry voice A truly independent industry voice of like minded professional member firms speaking as one. A consumer focused voice committed to best practices. A network that has it own independent house view regarding investment analysis, compliance, and professional standards.

18 The invisible Brand Adding real value to your Business Business Development Compliance Business development consultant and centralised support, geographic web leads, local and national group marketing drives Structured, standardised compliance process & manual Inspection updates, compliance hygiene, IT integrated Investments Strategic Planning Technology CPD & Training Risk profiling, Investment research, branded products, Investment outlook & commentary, newsletters, house view, Investment philosophy Executive development, planning and coaching CRM/broker resource tools, website, blogs, webinars, member log in, electronic pipeline & commission reconciliation Guaranteed CPD hours, Product & sales training

19 Compliance Policy Network Compliance consultant who will jointly devise network policy regarding; Fergus Bradley Chartered Insurer ACII, AIIPM Compliance Solutions & Training Limited Central Bank Visits CPC Technical support & updates Practical support Complaints procedures Data Protection Support documentation CPD Website compliance Statements of suitability MCR Anti money laundering

20 Investment Policy Network Investment Analyst who will jointly devise network policy regarding; Gary Connolly MA Econ Principal at icubed Investment product matrix External investment product due diligence Independent and unbiased product analysis Network Investment philosophy Attitude to Risk Asset allocation models Portfolio selection Newsletters and seminars Website/blog contributions Bespoke query assistance Corporate presentations Technology

21 Membership Benefits Training & Development Practical advice and guidance in relation to: Dermot McConkey FSII, MIITD Dermot McConkey Development & Training Ltd. Sales & sales management skills Telemarketing skills Seminar selling Website development Staff upskilling Time management/planning Presentation skills Teambuilding Motivation

22 Membership Benefits Technical & Taxations Issues Industry leading Policy Advisor and retained network consultant in relation to: Tony Gilhawley FSAI, FIIPM The man who developed the QFA Programme Technical Specialist, Commentator and Expert Guidance on technical issues Taxation changes, issues and difficulties Specialist regulatory advice and policy Product structure feedback and guidance Tailored bespoke client solutions Budget updates Legislative updates Tailored solutions

23 Membership Benefits PR & Branding BusinessTalk will provide members with the knowledge, skills and support to: Peter Mitchell BusinessTalk Increase brand awareness of your own business Profile your business within your own client base Position your business as a point of reference for specialist commentary Local and national exposure Maximise media coverage Improve perception of advisors

24 Membership Benefits Individual Coaching Tony will support members through: Tony O Connor BA, MBA People Dimensions International Individual coaching Group coaching Business Development Planning and Implementation Performance management Strategic management Team development On-line tracking system Profiling

25 Business planning member benefits Change the hourly focus of your day 10 Business Dev Research and Admin Compliance 5 0

26 Recurring & Dual Revenue model Getting paid for your advice and adding value to your business Broker Revenue Initial Recurring Fees Assumptions : More time with clients in a structured marketed way helps you write more business on a recurring revenue model This is business activity that will grow due to strategic marketing and business planning efforts of the group The investment reporting and client analysis tools will help grow fees Last year Year 1 Year 3 Year 5

27 Network Membership models Multi network access for advisors TAG Associate Member Non Branded Sales & Compliance processes Technology Enhanced earning potential Member meetings & Seminars CPD TAG Premium Member 1:1 resources Lead generation Exclusive product offerings Technology Branding

28 Premium Membership Monthly investment Premium Member per firm (includes one advisor) per additional advisor Compliance Sales & Compliance processes and procedures Technical & practical support Risk profiling & asset allocation Technology Best Advice/AdviserPlus OmniBroker Advance CRM Webquote Customer portal Members website, lead generation, CPD, documents, processes Resource Team Individual participation with resource team Tailored plans for your business

29 Premium Member benefits Continued.. Strategic Planning We review, assess, evaluate and redesign your business planning Training and Development Specifically developed around you and your staff CPD Guaranteed minimum CPD hours Track and update on member website

30 Premium Member benefits Geographic areas web leads BUSINESS LEAD GENERATION OUTPUT One network, one website with member mapping Google web leads to nearest member through web integrated lead management online CRM system Digital marketing campaigns Local media & PR campaigns per member National media & PR campaigns for the group

31 Associate Membership Monthly investment Associate Member per firm (includes one advisor) per additional advisor Compliance Sales & Compliance processes and procedures Investment research and analysis Technology Best Advice/AdviserPlus Omnibroker Advance CRM Member website, research, documents, CPD Enhanced earnings Network buying power Extra client facing time

32 Associate Member Benefits Continued.. Strategic Planning We review, assess, evaluate and redesign your business planning Training and Development Group meetings and product/sales training CPD Guaranteed minimum CPD hours Track and update on member website

33 Our Vision The stated objective of this venture is to build the largest and most professional, leading independent financial advice group in the Irish Republic. A national business of high repute and the pre-eminent source of trustworthy independent financial advice. Business planning & strategy Technical & Compliance resources Enhanced revenue models Customised technology Exclusive product offerings With access to a full range of products, a leading remuneration structure and access to the best independent resources available, this business is designed to be the first port of call for any advisor wishing to be seen as a professional, trusted advisor giving quality, reliable advice.

34 A Trusted Advisor Group Member has.an opportunity to build their business, supported by the most advanced technology, market leading products and comprehensive initial and ongoing training and support, allowing them to focus on a growing demand for trusted Independent Financial Advice in an increasingly regulated marketplace

35 So, if you KNOW there must be a better way to explain, promote and deliver REAL financial planning; if you KNOW you should be making MORE money but don t know how Maybe we can help you discover a new way of running your business??

36 Have you seen the network light? Our team are waiting to get to know you and your team Contact us today e mail: info@trustedadvisorgroup.ie Phone: