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Systemizing Your Business: Getting HNW Ready

Systemizing Your Business: Getting HNW Ready. Pierre McLean, Vice President National Sales. Getting HNW Ready. The HNW Opportunity Strong Benefits of Being Client-Centered 5 Strategies / 3 Building Blocks for Business Success Systemizing Your Business How To Get Started.

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Systemizing Your Business: Getting HNW Ready

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  1. Systemizing Your Business: Getting HNW Ready Pierre McLean, Vice President National Sales

  2. Getting HNW Ready • The HNW Opportunity • Strong Benefits of Being Client-Centered • 5 Strategies / 3 Building Blocks • for Business Success • Systemizing Your Business • How To Get Started DEALER USE ONLY

  3. The HNW Opportunity: A Growing Segment DEALER USE ONLY

  4. HNW A Growing Market in Canada Number of HNW Individuals (Investable Assets Greater than $1 M Canadian) Households Source: Cap Gemini Ernst & Young, 2002 DEALER USE ONLY

  5. The HNW Opportunity Over half the millionaires have less than $2 M Canadian of investment-ready assets (excludes primary home) 65% Affluent Canada Canada (C$) Source: Forrester’s Consumer Technographics 2002 North America Affluent Mail Study DEALER USE ONLY

  6. Are You Already There? Managing Assets 11.2 Million % of Canadian Adults with Stock Ownership (Direct or Through Funds) Growth by Assets and Clients Team Process Structure Talking to Clients DEALER USE ONLY

  7. Five Strategies for Success Focus on affluent private clients Use the investment consulting process to differentiate yourself from competition Manage your practice as a business Partner effectively with institutions and other professionals Commit to ongoing learning and execution Source: CEG Worldwide DEALER USE ONLY

  8. Everyday Advisor vs. HNW Advisor DEALER USE ONLY

  9. The Client: Everyday Advisor vs. HNW Advisor DEALER USE ONLY

  10. Building Blocks to Success “Franchise Value” DEALER USE ONLY

  11. Building Block: Articulate Creating distinct valueseparates you from the crowd DEALER USE ONLY

  12. “Value Diffusion Factor” Price-Performance of all transactions for a major CDN brokerage firm High Revenue Productivity Value creation Transactional Recurring Wrong direction - Right into the Trap Low Revenue Productivity DEALER USE ONLY

  13. Systemizing Your Business Delivering on the promises articulated in your DVP. DEALER USE ONLY

  14. Engineering Your Practicefor Growth Team Alignment Segmentation Client Service Process Planner Client Service Scheduler Client Service Matrix DEALER USE ONLY

  15. Engineering Your Practicefor Growth BY WHOM WHO WHEN HOW WHAT DEALER USE ONLY

  16. Segmentation is theStart of Systemizing Your Practice Delivering on the promises articulated in your DVP. DEALER USE ONLY

  17. AUM Commission or revenue Future potential (e.g. Income, inheritance, cross selling…) Referrals provided in last 12 months Time required to service Personality (e.g. Difficult or easy to deal with) Part of a Key Target Group Centre of influence Candidate for fee based-business Related to a top client…… Segmentation Guidelines Limit of 5 client relationship dimensions DEALER USE ONLY

  18. Segmentation Guidelines DEALER USE ONLY

  19. Practice Capacity Worksheet 45 40 19 21 945 19 50 DEALER USE ONLY

  20. The Impact of Focusing on the Top End Target Production Goal 2004 Current Production 2003 Difference $ 500,000 $ 300,000 $ 200,000 Revenue From Best Client # of new Clients Needed $ 15,000 13-14

  21. Revenue-Asset Diagnostic Segment A+ A B C D Total 5 24 14 60 63 166 # of Households Assets (expressed as a % of total assets) High Recurring Revenue Low Transactional Revenue Total Revenue (expressed as a % of total revenue) Total DEALER USE ONLY

  22. Developing Your Core Systems Delivering on the promises articulated in your DVP. DEALER USE ONLY

  23. The ICP: Building the experience Source: Financial Advisor at the Epoch DEALER USE ONLY

  24. Client Service Matrix DEALER USE ONLY

  25. Client Service Matrix             22 19 12 8 8 5 DEALER USE ONLY

  26. Building Your Entrepreneurial Team Delivering on the promises articulated in your DVP. DEALER USE ONLY

  27. Service Process Planner Client Advisory Council 4x year DEALER USE ONLY

  28. Service Process Planner Client Advisory Council 4x year -Forum for Top Clients to offer feedback -Gets them involved -Improves our Services -Creates Advocates Book high-end location Private room Pat Invite/Confirm 6 clients +Team CA/COI Pat Send Agenda and Materials to review (1 wk) Cindy Facilitate Topics/ reviews Pierre Follow-up letter on ideas raised & plans to execute Pierre/Cindy Pat admin/greeter Cindy – Service Update Me - presenter/ primary relationship Reinforces beliefs in our process and in our Team Thank You Gift: Bottle of Ice Wine • Metrics • Progress Report Focus group around business or market expertise Show up - all prep looked after More strategic relationship w CAs I want to evolve to Board of Directors Prep work DEALER USE ONLY

  29. Entrepreneurial Team Snapshot Source: Financial Advisor at the Epoch DEALER USE ONLY

  30. CLIENT YOU Vision Builder Relationship Manager Strategic Thinker Success Coach INTERNAL SPECIALIST COI TEAM The Extended Team DEALER USE ONLY

  31. Systemizing your business promotes your value as a HNW advisor! Focus on the HNW Opportunity Frees up your time Take control - don’t be controlled Allows you to become more proactive Value of Systemization DEALER USE ONLY

  32. How do I get started? DEALER USE ONLY

  33. DEALER USE ONLY

  34. Executable Tools to Help Your Practice DEALER USE ONLY

  35. FRANKLIN TEMPLETON INSTITUTIONAL $1,000,000+ INSTITUTIONAL (Mutual Funds – Series O – plus Pooled & Segregated account management) PRIVATE PORTFOLIO MANAGEMENT (Discretionary Stocks & Bonds, Balanced Mandate) TAPESTRY POOLED PORTFOLIOS (Pooled portfolios, sold by Offering Memorandum) PRIVATE PORTFOLIO MANAGEMENT (Discretionary Stocks & Bonds, Specialty Mandate) SEPARATELY MANAGED ACCOUNT PROGRAM (Third-party separate account sub-advisory services) QUOTENTIAL PROGRAM (Mutual fund wrap portfolios, sold by Prospectus) $25,000 FRANKLIN TEMPLETON INVESTMENTS RETAIL MUTUAL FUNDS (Individual Funds, sold by Prospectus) $500 Continuum of Investment Management Solutions $1,000,000 $500,000 FRANKLIN TEMPLETON INVESTMENTS PRIVATE CLIENT GROUP $250,000 $100,000 DEALER USE ONLY

  36. Questions & Answers DEALER USE ONLY

  37. Your Roadmap to Building A High Net Worth Business Pierre McLean, Vice President National Sales

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