Growing your business with confidence through strategic partnership. Paul Sutton, QFA FLIA

Transcription

1 Growing your business with confidence through strategic partnership 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 Lack of Trust

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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 Easier 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 Independent Advisor Market We are currently developing a nationwide strategic partnership brand in the Irish financial services independent advisory space. The group is already on track to become the largest truly independent advisory group in Ireland with a planned 78 member firms and a total of 117 professional advisors (year 3) Strategic partnership enhances advisor productivity and a core strategic function is to assist advisors in increasing their market presence, turnover and profitability. Membership will provide advisory firms with 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 Group membership forecast Premium member and associate member 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 current allocation of advisor time Sales 27% 32% Compliance Research Management Client Facing 18% 23% ONLY 27 % on Bus Dev

14 Where strategic partnership 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 Business planning member benefits Change the hourly focus of your day 10 Business Dev Research and Admin Compliance 5 0

16 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

17 % 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

18 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 group will benefit members in multiples of annual membership spend.

19 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 group of advisors that has it own independent house view regarding investment analysis, compliance, and professional standards.

20 The invisible Brand Adding real value to your Business Business Development Compliance Business development consultancy and centralised support, geographic web leads, local and national group marketing campaigns Structured, standardised compliance processes & 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

21 Compliance Policy Leading Compliance consultant who will jointly devise member policy regarding: Fergus Bradley Chartered Insurer ACII, AIIPM, QFA, LCOI 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

22 Investment Policy Investment Analyst who will jointly devise member 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

23 Membership Benefits Marketing & Business development Eamonn will support members through: Eamonn Twomey QFA, MBA Stepchange Ltd. Advice in all areas related to marketing marketing activities and tools, customer communication, events, online opportunities, social media Developing a unique proposition for their business Gaining insights into your business to support your planning activities Master classes in specific areas of interest Setting clear marketing objectives Identifying the right marketing activities Creating a robust marketing plan

24 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

25 Membership Benefits Technical & Taxations Issues Tony Gilhawley FSAI, FIIPM Technical Guidance Ltd. Industry leading Policy Advisor and retained consultant in relation to: 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

26 Membership Benefits PR & Media 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

27 Membership models Resource 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/BrokerCRM/Wealthtrack OmniBroker Advance CRM/Moneyadvice 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 of 15 CPD hours Track and update on member website

30 Premium Member benefits Geographic areas web leads BUSINESS LEAD GENERATION OUTPUT 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/BrokerCRM Omnibroker Advance CRM Member website, research, documents, CPD Enhanced earnings Group 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 of 15 CPD hours Track and update on member website

33 Our Vision The stated objective of this venture is to build a strategic partnership with select leading independent financial advisors in the Irish Republic. A national business of high repute, our members will be viewed as the preeminent 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 solutions, a competitive 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??