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Grow your business!National Bank Financial

TorontoFeb. 13,2013

Redefining Financial Relationships

• Introduction…who cares?

• The state of business development in 2013

• Engage your existing clients and grow your business

• Attract more referrals

• Find your CFO/CEO hat

• Get and use client feedback

• What does “social media” mean for your future?

Agenda:

Accretive Advisor™ is committed to helping Investors and their Financial Advisors create more successful financial relationships.

• Our goal is to redefine the relationship between investors and their financial advisors.

• We provide the resources and facilities that enable Investors who are serious about their money and Advisors who are serious about their business, to find each other.


About Accretive Advisor

ACCRETIVE: ‘WORKING TOGETHER TO ACHIEVE MORE’

George Hartman & Tom Reimer

Managing PartnersAccretive Advisor Inc.

Through our combined 70 years working in the financial services industry, we have seen the great things that can happen when an Investor and an Advisor share high levels of trust and confidence.

Advisor Universe

• Our mission is to help great financial advisors become extraordinary advisors in a supportive, collegial community.

• An Accretive Advisor is part of a community of financial advisors who take their business seriously.

About Accretive Advisor


Is this you?

I have spent the past (fill in your own number) of years building what I thought was a successful practice. Now my client base is:

Not valuing my advice AgingConverting assets into retirement incomeTransferring their money to children with

whom I have no relationshipDyingRefusing to come back into the market /

Looking for lower risk investmentsLeaving me for another advisor

Is this you?

I spend more time on administration and client service than giving advice and developing business

I feel like the business is running me – rather than the other way around

My work/life balance is way out of whack – it isn’t much fun anymore

I have no idea how I will realize the value of this business that I have spent years building

Growing your business in 2013


The old ways just don’t work anymore!

Cold Calling


Direct Mail


Email Marketing


Newsletters


Seminars


Referrals


If You Don't Exist On The Web, You Don't Exist!

Grow your business…from within…or from without!

www.accretiveadvisor.com

Critical Somewhat important

Neutral Not very important

Not at all important

0%

20%

40%

60%

80%

100%

40%48%

9%2% 1%

Good News…your clients need you!

Source: The Economics of Loyalty Canada, Advisor Impact, 2011.

Your advice is perceived as Critical and Important in achieving their goals

1. Engage more clients

2. Leverage already

engaged clients

16

Two strategies to grow your business

“Satisfaction” has very little to do with “Growth”

1-5 6-7 8-9 100%

20%

40%

60%

80%

100%

Satisfaction rating (out of 10)

Per

cen

tag

e p

rovi

din

g a

re-

ferr

al

Engaged18%

Satisfaction/ Loyalty

Referrals

Disgruntled

12%

Complacent14%

Content56%

20

“Engagement” is the new metric for growth


Engaged clients:

• are among the most satisfied and loyal clients

• place a high value on advice relative to the fees they pay

• put the advisor in the role of ‘trusted advisor’; co-ordinating across other professionals

• use their advisors on a multi-generational basis

• are more likely to have a financial plan

• trust you with a major share of their assets

• provide almost all referrals made across the industry

21

Engage

Connect

Lead

Partner

You’re in control: Driving engagement in your existing clientele

22

Connect…

Connect:Engaged clients are more likely to expect and receive more plan reviews

24

Connect:Engaged clients want an advisor who quarterbacks their other professional relationships

25

Connect:Engaged clients are more likely to work with their advisor on a multi-generational basis

26

Connect:Engaged clients are more likely to have a formal financial plan

27

…and don’t forget the wives!

Lead…

Disgruntled Complacent Content Engaged0%

20%

40%

60%

80%

100%

43%49%

43% 44%

37% 22%41% 40%

Somewhat Important Critical

Pe

rce

nt a

ge

re

spo

nd

ing

‘ye

s’

Q. How important is it to you that your advisor demonstrate strong leadership?

30

Lead: All clients are looking for guidance from a strong leader



20%

40%

60%

80%

100%

14%

53%

70%

87%

Per

cent

age

res

pond

ing

‘yes

’

Q. Do you consider your advisor a strong leader?

31

Lead:…but not all are getting it!


Partner…


20%

40%

60%

80%

55%

38% 39%

52%

12%

4%6%

12%

Somwhat Important Critical

Per

cent

age

of r

espo

nden

ts

Q. How important is it to you that your advisor asks you for feedback/input on the service that he or she provides?

33

Partner: All clients want a say


Disgruntled Complacent Content Engaged

29%

47%45%

76%

Per

cent

age

res

pond

ing

‘yes

’

34

34

Partner: …but most have never been asked for feedback!

Q. Has your financial advisor ever asked you for feedback on the service that he or she provides?


1. Engage more clients

2. Leverage already

engaged clients

35

Disgruntled Complacent Content Engaged

20%

58%

75%

91%

21%

14%17%

34%

3%7%

0%

100%

Somewhat/Very Comfortable Referring Ask for a Referral

Has Referred

Per

cent

age

of r

espo

nden

ts

36

Focus on activating referrals from those most comfortable giving them


37

Clients want to help their friends and advisor

Q: Which of the following best describes the motivation behind providing a referral to your advisor.

0%10%20%30%40%50%60%

40%

55%

5%

Pe

rc

en

tag

e o

f re

sp

on

de

nts

wh

o

pro

vid

ed

a r

efe

rra

l

37

Source: Advisor Impact, Economics of Loyalty Canada: 2011

38

Clients must see a real need for your advice

Q: What were the circumstances of providing the last referral?

38

38

Friend

ask

ed fo

r a re

com

men

datio

n

Friend

des

crib

ed a

finan

cial c

halle

nge

Adviso

r ask

ed fo

r a n

ame

0%5%

10%15%20%25%30%35%40%45%50% 44% 42%

7%

Pe

rce

nta

ge

of

res

po

nd

en

ts w

ho

p

rov

ide

d a

re

ferr

al

Source: Advisor Impact, Economics of Loyalty Canada: 2011

Tapping into the opportunity:Just ask…but don’t ASK!

“I noticed on our client feedback survey that you're willing to refer your friends and family to us…”

39

Develop a formal Client Feedback program

www.accretiveadvisor.com

46

Client Audit: Getting started

47

Client Audit: Select questions

48

Client Audit: Survey invitation

49

Client Audit: Dashboard

50

Client Audit: Program summary and Client profile

51

Client Audit: Reports & tools

A comprehensive Client Snapshot provides a high-level view of your business, showing aggregated information across all questions and then broken down by core objective: driving engagement, structuring and streamlining service and increasing revenue and referrals. A separate report captures all verbatim comments in a single location to help you quickly identify trends.

52

Client Audit: Client Snapshot

You can see a completed survey for any client who responded to the survey simply by selecting the client name from a dropdown list. Use this report for an in-depth understanding of your most engaged clients or to identify potential problems with clients at risk.

53

Client Audit: View completed survey

Use this report to view a list of all clients at risk, based on their overall satisfaction ratings. Assess current and future flight risk and identify those clients who should receive a direct follow-up call to discuss potential concerns.

54

Client Audit: Identify clients at risk

Run target lists of all clients who are interested in individual service or cross-selling opportunities. Using this report you can identify those clients who have specifically expressed an interest in learning more about the services that you provide.

55

Client Audit: Uncover cross-selling opportunities

Run a personalized meeting plan that will allow you to conduct a more effective review meeting, picking up on key responses from clients – satisfaction, expectations and revenue and referral opportunities. Use this report to focus your follow-up conversation in a way that will drive deeper and more productive conversations with your clients.

56

Client Audit: Personalized meeting plan

57

Client Audit: Leveraging your reports

Using Social Media to grow your business

Social Media

Social media allows more opportunities for connection. That is a financial advisor's bread and butter

Financial advisors report high adoption levels of

social media for business

LinkedIn is the preferred social platform among

financial advisors

Social Network Use by Business Purpose

New Clients Gained Through LinkedIn

Has your use of LinkedIn

for prospecting helped

you gain new clients?

10 characteristics ofTop-Performing Advisors

1.Have a clear vision for your practice

2.Work on as well as in your business

3.Create a strategy to realize your vision

4.Understand what your target market wants

5.Define your value proposition - services, products & processes

10 Things I’ve Learned fromTop Performing Advisors

6.Build a marketing plan to attract the clients you want

7.Use a disciplined methodology

8.Make every client relationship profitable

9.Recognize clients’ lifetime value

10.Create clients for life

Grow your business!National Bank Financial

TorontoFeb. 13,2013


nbf ankers feb 13

Documents

national bank

redefining

personalized

financial

financial

meeting notes

social media

huge gap