advisor onboarding

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Leadership Excellence Project Team August 20, 2015

Advisor Onboarding:Annuities, Life and Retirement

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• Project Overview

• Internal Research: Current State

• External Research

• Pain Points

• Recommendations

• Questions

Agenda

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Project Overview

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• Minimize lost productivity of wholesalers

• Capture more repeat business from advisors

• First 90 days critical

Business Need

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• Current onboarding state: Annuities, Life and Retirement

• Quantify

• Cross-sell opportunities

• New vs. repeat advisors

• Onboarding recommendations

Project Deliverables

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• External and internal teams

• Product line teams

• Recommendation teams

Project Approach

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Cross-Selling Advisors

73%

24%2%

No Cross-SalesAnnuity & LifeAnnuity & RetirementLife & RetirementAll Three

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Active Advisors – New vs. Repeat

2012 2013 2014 421860

500

1000

1500

2000

2500

3000

3500

4000

4500

4139

1381 1154

624

2712 2977 2555

New

Repeat

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Research

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• Internal product line teams

• Interviewed SMEs and additional internal contacts

provided at project kick-off meeting

• Internal product line teams created current state process

maps

• LEP team compiled pain points venn diagram

Internal Research

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• Retirement• Efficient retirement plan conversion process

• Life• Beneficial quarterly marketing materials

• Annuities• Excellent new business to wholesaler communication

• All Product Lines• Valuable Securian Advisor tools• Benefits of Geopointe in Salesforce • Efficiency of e-app

What’s Working?

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• Deliverable Overview

• Market Research Findings

• Additional SME Interviews

External Research

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Securian’s Annuity Appointment Email

New Advisors

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Athene’s Annuity Appointment Email

New Advisors

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LPM Client Experience Consultant

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• Advisor Interviews• Competition• Expectations• Touch points

• Peer Company Key Findings • People, process, and tools used varies across peer companies

• Conclusion • Enhance communication• Improve first point of contact materials• Continue promoting competitive advantage

External Research Cont.

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Pain PointsRetirement Life

Annuities

· Marketing to wholesaler communication

· Emails to advisors are not customer-focused

· Compensation timing· Not feeding DST

· Licensing/Appointment process

· E-app isunder-utilized

· Underwriting process is too long

· Advisors are unaware that UW information is online· Lack of defined

onboarding process· No centralized

contact center· Website and

training tools· Lack of recognition· Emails to advisors · Branding

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• Licensing

• Compensation timing

• DST Vision feeds

Pain Points Currently Being Addressed

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Pain Points for Future Consideration

• Life Underwriting

• Marketing/wholesaler communication

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• Email communication with advisors

• Lack of recognition

• Central point of contact

• Lack of onboarding process

• Lack of training

Pain Points Addressed by Recommendation

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Recommendation

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• Consistent experience for the advisor• Streamline branding and messaging across business units• Unified messaging: phone calls, emails, mailing,

advertising• Training and education

• Automate targeted advisor communication• Develop communication/action based messaging through

data/metrics• Automation ensures timely deployment of communication• Opportunity for wholesalers to reach out to advisor

Enhanced Communication Tactics & Strategic Development

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• Strategic Development for Wholesalers

• Corporate Executive Board Sales Leadership Council

• Insights, based on research into the best practices of top sales organizations

• Membership features: • Peer Benchmarks• Diagnostics• Live/Online Learning

Events• Key topics:

• Inside Sales• Channel Partners• Key account

management

Enhanced Communication Tactics & Strategic Development

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• Formal recognition upon key activities or sales• Strengthens wholesaler/advisor relationship• Improves brand awareness

• Create benchmarks to trigger opportunities for recognition• Advisor’s appointment• First Sale

• Recognition process becomes consistent• Distinguish Securian from competitors• Encourage repeat sales

Formal Recognition Process

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• On-going training and development• Writing: Customer Focused E-Mail• Customer Service Excellence

• Reinforces service culture and promotes a united experience across all business units

Customer Centric Communication

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• Conduct user research

• Institute centralized ownership structure

• Refresh look and feel – corporate branding initiative

• Enhance New Advisor section

Re-design SecurianAdvisor.com

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SecurianAdvisor.com: Tell a Friend

Subject: Visit Securian Careers

I was browsing the Securian Careers web site and thought you would be a good fit to be a financial advisor. Go to www.securiancareers.com and check out current opportunities with the Securian Financial Network.

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• Facilitates consistent, best-in-class onboarding experience

• Central point-of-contact for the Company• Sets expectations for Securian processes and timelines• Collaborates with wholesalers and the home office

(licensing, marketing, new business, etc.) • Identifies and implements onboarding best practices• Provides targeted training on SecurianAdvisor, cross-

selling, and other company resources

Advisor Training & Onboarding Specialist

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Grade Level: 14-16 Annual Salary Load per ATOS: $116,300Report to National VP’s

Advisor Training & Onboarding Specialist

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• Wholesaler -> Advisor• Handoff of Advisor Welcome Packet• Introduction and explanation of ATOS role

• ATOS proactively reaches out to Advisor via (TBD) method of communication

• ATOS conducts Onboarding Education Process

Advisor Welcome Process

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• Advisor Welcome Packet • Cover Page • Brief Securian Story • Brief overview of advisor onboarding process• Presale, Point of Sale• Post Sale, Ongoing• Brief information about other product lines

Nationwide and SFN Experienced Advisor Transition Guide examples on pg. ___

Welcome Packet

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Securian’s Story

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Brief Overview

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Pre-Sale & Point of Sale

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Post-Sale & Ongoing

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Active Advisors – New vs. Repeat

2012 2013 2014 421860

1000

2000

3000

4000

5000

New Repeat

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Active Advisors – New vs. Repeat

2012 2013 2014 421860

1000

2000

3000

4000

5000

New

Repeat

Est. w/ 80% re-tention

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Questions?