Transcript DELTA VERITAS CONSULTING
Running Your Book of Business Like A Business
DELTA VERITAS CONSULTING Maureen “Mo” Campanella
FINANCIAL SERVICES NETWORK Foster City, CA
Benefits
Problems…
Time Management, Day is Reactive, No Growth Plan, Lack Disciplined Client Service Model, Lack of Defined Roles and Responsibilities, Lack of Processes, No Set Strategy for Growth, Lack of Accountability, No Clear Expectations, Don’t Fully Utilize a CCM System, Hard to Motivate Self to Prospect, Not Enough Client Appreciation Events, Lack of Communication, Too Busy/Comfort Zone with Existing Clients, Pitch is Not Seamless, No Pitch Book, No Follow Up, EGO, Haven’t Set Financial Goals, No Vision, Develop a Customized Client Service Model, Need More Investment Ideas, Find a Partner with Complementary Skills, Unqualified and/or an Unregistered Assistant, Not Getting Enough Referrals, Rarely Brainstorm Around Investment, Don’t Have a Financial Planner, Lack of a Business Plan No Networked Calendar, Unorganized Office, No Succession Plan, Client Acquisition Strategy, Workflow Efficiencies, Establish Procedures, Create a Checklist for New Account Opening Process, Discipline my daily activities….
CEO CAO CIO CIS CFO CMO COO CTO
Business Management
Business Analysis
GROWTH MARKETING & PROSPECTING
(Focused Growth)
SUSTAIN INTERNAL CLIENT + INVESTMENTS
(Grow and Maintain)
HARVEST OPERATIONS
(Client Satisfaction)
Workflow & Operations
Business Model: Planning, Investments, Insurance Infrastructure Alignment: Sole Practitioner v Team – Roles, Responsibility & Accountability Time Management Operational Processes: – NEWAC, Client Review, Prospecting, Investment Process Communication & Information Flow Technology Utilization
= EFFICIENCY
Internal Client Marketing
Client Service Models Client Base Segmentation Customized Client Contact Schedule Client Opportunity & Strategy – Product and Service Penetration – Re-Pitch Clients of Capabilities/Deepen relationship Referrals & Follow Up Client Events/Social
= RETENTION
External Prospecting
Prospecting & Growth Plan for 2012 Pipeline, Prospect Follow Up, & Drip Strategies 2012: New & Improved Pitch Prospecting Process & Follow Up Cold Calling and Scripting Branding: Pitch Book, Presentations and Proposals Prospect Meeting Agendas Prospect Events, Seminars
= GROWTH
Financial Management
MTD/YTD/ YE – Financial Projections vs. Actual Tracking Growth – Revenues, Production Re-Investing: Expense Allowance Operating Expenses – Payroll, Technology, Coaching & Training – Client/Prospect Events, Gifts, Tn’E
= PROFITABILITY
Leadership & Communication
Goal Setting, Vision and Direction Work Ethic, Attitude & Morale Interpersonal Dynamics & Collaboration – Honest, Candid and Open Performance Evaluations Meetings
= ACCOUNTABILITY
Business Mode 2012
RETIREMENT GROWTH MAINTENANCE
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Business Management Quiz
YE 2012 Goals: Revenue, AUM, New Assets?
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Business Management Quiz
YE 2012 Goals: Revenue, AUM, New Assets?
Client Segmentation Criteria
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Business Management Quiz
YE 2012 Goals: Revenue, AUM, New Assets?
Client Segmentation Criteria “A” Client Service Level?
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Business Management Quiz
YE 2012 Goals: Revenue, AUM, New Assets?
Client Segmentation Criteria “A” Client Service Level Most Common Personnel Gap
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Business Management Quiz
YE 2012 Goals: Revenue, AUM, New Assets?
Client Segmentation Criteria “A” Client Service Level Most Common Personnel Gap Critical Elements of New Prospect “Pitch”
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Business Management Quiz
YE 2012 Goals: Revenue, AUM, New Assets?
Client Segmentation Criteria “A” Client Service Level Most Common Personnel Gap Critical Elements of New Prospect “Pitch” 2011/2012 Most Effective Prospecting Activity?
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Business Management Quiz
YE 2012 Goals: Revenue, AUM, New Assets?
Client Segmentation Criteria “A” Client Service Level Most Common Personnel Gap Critical Elements of New Prospect “Pitch” 2011/2012 Most Effective Prospecting Activity?
What Do You Say You Do?
1) Financial Goals Must Be In Writing Must Be Articulated to All Team Members Financial Projections Tracked
Spreadsheet: Monthly Projections vs. Actual Bonuses Tied to Performance/Growth of Business Goals Reviewed on A Monthly Basis Competition with Self
2) Client Segmentation Criteria Revenues Assets Under Management Centers of Influence (COI) Potential Advice Likeability Time Consumption
3) Client Service Model
PLATINUM SERVICE/”A” LIST
Whatever They Want
Ask Your Clients COI Clients with Assets Away
GOLD SERVICE/”B” LIST Standardized Service Model
SILVER SERVICE/”C” LIST Standardized Service Model Junior Rep Should Service (if applicable)
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5) Critical Elements of “Pitch” Business Overview Biographies Staff and Service Model Why Financial Services Network/Independent Financial Planning Process Investment Discipline Client Case Study a.
Business Owners b.
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Pre-Retirees/ Retirees Corporate Executives Inherited Wealth 401k/Pension/Foundation/Endowment
7) Client Bring A Guest Event
Client Appreciation Event
– Good Will – Thank You – Feel Good + “Break
Bread”
– Fun – No Agenda – Social & Entertainment – Refreshments and/or a
Dinner Prospecting Event
– Educational!!! – Hot Topic (not canned) – Ticket to Admission – Pre-Qual Call – Private Briefing – Subject Matter Expert – Invitations – Follow Up After the
Event!!!!!
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Mo’s Deliverables Put Goals In Writing Re-Align Current Infrastructure Create Capacity & Re-Align Service Model Pipeline Tracking Report: Identify Clients with Opportunities to Deepen Relationship Focus on Prospecting/Prospect/Client Educational Events: MUST Bring Guests Refine, Re-Develop, Re-Vamp Your Pitch!!
Thank You & Q n’ A
Maureen “Mo” Campanella [email protected]
Office - (212) 452-2606 Cell – (917) 763-2364
100% Efficiency CRM/ CCM System ALL Client Contacts in “Client Notes” ALL Prospects in “Prospect Notes” Tracking: Pipeline, Client, Drips, Contacts Shared Drive Networked Calendar Sort Field All Tasks/To Do’s In System