How do you Successfully Promote 860 Individual Businesses under one Brand?

Susan BeattyMBC Final Project Presentation

December 15, 2005

Individual financial advisors at Piper Jaffray market themselves like this.

JOE SMITH Vice President Investments 612-303-6000 joe.s.smith@pjc.com Jane Smith Investment Associate 612-303-6000 jane.s.smith@pjc.com

Do You Have the Right Guide For Your Financial Journey?

We work with people who want better ways to protect their assets, improve their net worth and cash flows, and pass their wealth on to charity and loved ones.

If you think of your financial life as a mountain you have no choice but to climb, then you can climb it alone or take an experienced guide with you. Even experienced mountain climbers take a guide for the journey.

Let us be your guide.

Clients and Advocates Please Introduce Me to Anyone Who Fits Any of These Profiles

As you know I work diligently to help my clients protect their assets, improve their net worth and cash flows, and pass their wealth on to their loved ones and to charity. My clients want more direction, perspective, and communication; plus they want better results and more controls placed on the risks they are taking. I deliver to these “wants” in three ways.

1. First, I maintain open lines of communications with my clients.

2. Second, although future performance is never guaranteed, I provide growth

and cash flow strategies that have a history of stronger than average returns with lower than average risk.

3. Third, I analyze my client’s situation and recommend strategies to better protect their assets from potential catastrophes and positioned them efficiently to be passed on to charity and their loved ones.

Combined these three steps work in combination to give my clients a positive shift in the way they perceive the management of their wealth. In addition, I have developed a system, called ROTATION, which attempts to effectively move your assets between investment asset classes and sectors as the momentum shifts between them. The goal, like all the strategies I recommend, is superior performance with lower risk. I use ROTATION to help both growth investors and those seeking enhanced cash flows during retirement.

I Am Seeking Your Introductions to New Potential Clients Most of my new clients come from introductions made to me by present clients or individuals who, although not clients, think highly of my work. Please introduce me to anyone who fits any of these three profiles. 1. Executives and key professionals who have been downsized or have recently

transitioned from one employer to another 2. Anyone who will be retiring during the next few years or has retired recently 3. Successful business owners or a key corporate executives or professionals. If you introduce me to someone I will do whatever I can to make them feel comfortable with me. If they show any hesitation I will back off immediately. Nothing is more important to me than your advocacy.

Piper Jaffray is required to market the financial advisors like this.

Private Client Services Business at Piper Jaffray

Piper Jaffray’s Private Client Services business has 860 financial advisors and 316 investment assistants.

The Private Client Services business manages $51 billion in assets.

Piper Jaffray has 90 Private Client Service branches in 18 states.

Piper Jaffray has 10 marketing and public relations specialists.

Do financial advisors at Piper Jaffray find the current marketing and public relations materials useful in promoting business and gaining new clients?

Research Question

Methods

An E-mail invitation to participate including a link to an online SurveyMonkey survey was distributed to 860 financial advisors and 316 investment assistants at Piper Jaffray.

27 total questions 418 financial advisors and investment

assistants completed the survey. 35.5% response rate

Are the Current Marketing Materials at Piper Jaffray Effective in Helping to Build Your Business?**

44% found marketing materials effective 26% did not find marketing materials

effective 30% were not sure

** Marketing materials = brochures, direct mail, postcards, flyers, e-mail communication, print advertisements, seminars, etc.

Are the Current Public Relations Materials at Piper Jaffray Effective in Helping to Build Your Business?**

15% found public relations materials effective 48% did not find public relations materials

effective 37% were not sure

** Public Relations Materials = press releases, feature stories, radio interviews, TV interviews, event coverage, etc.

Rank of Current Piper Jaffray Marketing Materials in Terms of Their Effectiveness in Marketing to Clients and Prospects

1. In-person meetings2. Business networking/professional associations3. Social events/club memberships4. Brochures5. Stories about you and/or the firm in the press6. E-mail communication7. Seminars8. Print advertisements9. Flyers10. Direct mail11. Personal Web-sites12. Postcards

Rank of Current Public Relations Materials in Terms of Their Effectiveness in Reaching Clients and Prospects

1. Positive mentions in publications2. Feature stories3. Speaking engagements4. TV interviews5. Event coverage6. Radio interviews7. Press releases

How Many Times in the Past 12 Months have you Used Pre-Approved Marketing Materials from the Intranet Site?

13% never used pre-approved materials 28% used pre-approved materials 1-3 times 18% used pre-approved materials 4-5 times 12% used pre-approved materials 6-10 times 29% used pre-approved materials more than 10 times

How Many Times in the Past 12 Months have you Consulted with the Piper Jaffray Marketing Team?

27% never consulted with their marketing representative 40% consulted with their marketing representative 1-3 times 16% consulted with their marketing representative 4-5 times 8% consulted with their marketing representative 6-10 times 9% consulted with their marketing representative more than 10 times

Do financial advisors at Piper Jaffray find the current marketing and public relations materials useful in promoting business and gaining new clients?

No

Recommendations for Piper Jaffray

Sell public relations and marketing services Focus on marketing and public relations materials that

support individual financial advisors Reduce focus on pre-approved marketing materials Strengthen relationships between marketing and public

relations and the individual financial advisors

Final Thoughts

The marketing and public relations team at Piper Jaffray has a great opportunity to help build the Private Client Services business by focusing on promoting the individual financial advisors.