welcome to our webinar the presentation will start shortly for financial advisers only not for use...
TRANSCRIPT
Welcome to our webinarThe presentation will start shortly
For financial advisers onlyNot for use with customers
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Welcome to our webinarDeveloping Professional Connections
Stuart WilsonHead of MarketingLV= Retirement Solutions
David DunnManaging DirectorDesigno Marketing
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AgendaDeveloping Professional Connections
Introductions & housekeeping
Learning objectives
Developing Professional Connections
Q&A
Summary/further info
Close
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HousekeepingUsing Social Media
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Learning ObjectivesDeveloping Professional Connections
Identify the type of professional connections to target and define their characteristics
Discover how to successfully approach professional connections and gain their trust and confidence
Describe how to effectively present to professional connections - and what criteria are likely to be used to assess your pitch
Understand what you can do to maximise value from the relationship
Identify the type of professional connections to target and define their characteristics
Discover how to successfully approach professional connections and gain their trust and confidence
Describe how to effectively present to professional connections - and what criteria are likely to be used to assess your pitch
Understand what you can do to maximise value from the relationship
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Stuart WilsonHead of MarketingLV= Retirement Solutions
David DunnManaging DirectorDesigno Marketing
Developing ProfessionalConnections
The scale of the opportunity
The connection pathwayDefine your target market
Pitching your proposition
Making it happen
Questions
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Developing Professional ConnectionsAgenda
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Developing Professional ConnectionsDefining the opportunity
There are 150,000 practicing Solicitors and 140,000 practicing Accountants
70% of Solicitors and 83% of Accountants already refer clients to advisers
Nearly half of all Accountants and more than a third of all Solicitors who refer clients to advisers, refer on average one per month
Source: JP Morgan Asset Mngt
(though more than half believe there is potential to increase this level of referral)
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Developing Professional ConnectionsRDR will help catalyse the opportunities
Number of advisers has fallen significantly over the last few years
Estimated that there will be circa 20,000 advisers by end of 20131
Fewer advisers
Higher standards
Fees not commission
Higher standards can allay reputational fears professional connections may have: QCF Level 4CPD requirementsIncreased capital
Fees more directly aligned with other professionals
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1. Defining your target market
Developing Professional ConnectionsThe connection pathway
1 2 3
Who do you want to target?
What are their characteristics?
Find out all you can about them
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2. Establishing contact
HELLO!
Developing Professional ConnectionsThe connection pathway
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Establishing contact
Developing Professional ConnectionsThe connection pathway
12345
Check if you have any connections to these firms.
Invite key individuals to events you are running.
Attend local business events that may provide opportunities to socialise.
Send added value communications on topical issues.
Offer to run bespoke seminars on subjects the practice may be interested in.
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Developing Professional ConnectionsThe connection pathway
3. Pitching your proposition
US + YOU
= SUCC ESS
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Developing Professional ConnectionsThe connection pathway
Pitching your proposition
Is this firm knowledgeable and professional?
Does the firm share our values?
Do they understand our needs? How will they interact with us?
Do I like the people in this
firm?
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Developing Professional ConnectionsThe connection pathway
Pitching your proposition
Highlight your professionalismand expertise.
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Developing Professional ConnectionsThe connection pathway
4. making it happen
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Developing Professional ConnectionsThe connection pathway
Making it happen
Set up joint events or seminars on subjects that are relevant to both parties
Offer to speak at events set up by the professional connection for their clients
Run training sessions or regular briefings on topical issues for the staff and partners
Agree with the professional connection that their literature will refer to the availability of advice on financial services matters
Offer to conduct personal reviews for staff and partners of the Professional connection
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Developing Professional ConnectionsThe key to success
Adding value…
The key to engaging with an accountant or solicitor is to demonstrate your expertise and the value that your expert knowledge can bring to their business or their core activity.
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Developing Professional ConnectionsSummary
The opportunity is significant
RDR should make it easier for advisers to forge relationships
The start point is to define your target market clearly
Next it’s about establishing contact
Spend time thinking about your pitch and what makes you different
The real work begins once they agree to refer to you…
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Developing Professional ConnectionsFurther information
Strategic PartnershipsStuart BateBusiness Development ManagerTelephone: 07435 971046Email: [email protected]
Pensions DevelopmentJohn DavisTechnical Development ManagerTelephone: 07740 921626Email: [email protected]
ScotlandAlan CrossTelephone: 07435 751033Email: [email protected]
NorthTim RichmondTelephone: 07836 209705Email: [email protected]
Nottingham and GranthamIan FergusonTelephone: 07501 495147Email: [email protected]
WestMatthew QuinnTelephone: 07552 120644Email: [email protected]
SouthMatthew WadhamTelephone: 0800 756 5854Email: [email protected]
Flexible Guarantee BondVincenzo LomonacoTelephone: 08458 506491Email: [email protected]
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Developing Professional ConnectionsFurther information
LV= Adviser Retirement Centre - http://retirementcentre.lv.com
LV= 2013 Pension Opportunities - http://2013opportunities.lv.com
ICAEW, Institute of Chartered Accountants in England and Wales - www.icaew.com
SIFA - www.sifa.co.uk
STEP, Society of Trust and Estate Practitioners - www.step.org
SOLLA, Society of Later Life Advisers - http://societyoflaterlifeadvisers.co.uk
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LV= WebinarDeveloping Professional Connections
Questions & Answers
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LV= WebinarSummary/further information
http://retirementcentre.lv.com
Other infoWebinar recordings
Podcasts
Guides
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LV= WebinarSummary/further information
Feedback & Questions
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The LV= Retirement Proposition
Comprehensive pension products
Personal Pension & SIPP
Drawdown/Flexible Drawdown
Enhanced Annuity
Investment Linked Annuity
Fixed Term Annuity
Guaranteed Bond
Equity Release
LV= WebinarSummary/further information
www.lv.com/adviser
This is for financial advisers only
Not to be used after November 2013
This views expressed in this webinar by the guest presenter are those of the individual themselves and do not necessarily reflect the views of LV=.
Liverpool Victoria Friendly Society Limited, Keynes House Tilehouse Street, Hitchin, Herts, SG5 2DX.
Liverpool Victoria Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035. NM Pensions Trustees Limited, (registered in England No. 4299742), act as Trustees and Scheme Administrators. Authorised and regulated by the Financial Conduct Authority, register number 463402. Registered address for all companies: County Gates, Bournemouth BH1 2NF. Tel: 01202 292333
FS21334056 05/13
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LV= WebinarImportant notes