asset accumulation series webinar 3 of 7: define stages august 13, 2014

Asset Accumulation SeriesWebinar 3 of 7: Define Stages

August 13, 2014

Agenda

• Overview of ActiFi and the 2014 Redtail Webinar Series

• Recap of Previous Session

• Business Development Process: Define Stages

• ActiFi

• Why it is important

• How to define requirements for Redtail on paper

• Redtail

• Translating requirements from paper to technology

• How to make it work on Redtail

• Q&A

• Preview the next Webinar in the Series

All Rights Reserved to ActiFi

2

Getting the Most Out of Technology

What Percentage of Technology ROI is tied to Advisor Utilization?

Answer: 100%

How much benefit does an advisor/planner get if they use their old processes on the new technology?

Answer: NONE


6

WHY

HOW

Keys to Success

Keys to Success – ALWAYS REMEMBER


9For illustrative purposes only

Overview/

Define Your

Process

Define Classifications

and Source

s

Define Stages

Identify

Default Next Steps

Create Pipelin

e Report

Segment Your Client Base

Analyze Your

Client Base/Ide

ntify Ideal

Opportunities

Define Your Business Development Process

Define Your Classifications

Classifications are the kinds of relationships you have with people

from the time you first hear about them until they become a client.

Examples include:

• Lead: Not acquainted, acquired contact info by referral or some other method

• Qualified Lead: Determined to be a good “fit”

• Prospect: Not yet a client, building a relationship

• Client: With an opportunity or life event on the horizon

• Center of Influence: Not necessarily a client, but a potential or existing referral source

• Affiliated Professional: Tax attorney, divorce attorney, insurance agent, etc.

Write down your exact words and how you define them


11

Define Your Source Types and Names

Source Types and Names help you identify where a prospect came from.

Source Types are broader categories, while Source Names indicate which specific Source Type generated the prospect.

Write down your exact words and how you define them for your Source Types.


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Examples of Source Types

Examples of Source Names

Marketing Campaign Direct Mail, Newsletter

Center of Influence COI Name

Affiliated Professional Attorney name, CPA name

Personal Networking Rotary, Kids’ soccer

Event Social Security Education seminar

Define the Stages in Your Pipeline


13

Get contact infoIntroductionDiscovery

Proposal CommitmentOnboard

Stages define where you are in the sales process with each prospect

Write down your exact words and how you define them


14For illustrative purposes only


15

Define the Processes for the Stages in Your Pipeline


16

Get contact infoIntroductionDiscovery

Proposal CommitmentOnboard

Each Stage has a process outlining the steps involved, what materials are used or introduced, what role is responsible, and the due date.

Depending on the advisor and the prospect, the time and number of steps involved to move to the next Stage may vary.

Defining a Process Activity


What is the activity (action verb)

Who does it (role, not name)

When does it occur (in relation to the milestone)

How long does it take

What triggers the activity

How do you know when the activity is completed

Process Definitions

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Process Definitions

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Prepare

Conduct

Follow Up

Task 1.1 Task

1.2

Task 1.3

Task 3.1

Task 2.1 Task

2.2Task 3.2

Task 3.3

Sample Process: Intro Meeting

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Seni

or A

dvis

orPl

anni

ng S

peci

alist

Clie

nt S

ervi

ceSp

ecia

list

Principal advisor and most senior relationship manager

Para-planner or junior advisor that supports many of the day-to-day and preparation activities

Primarily administrative and task-oriented resource e.g, schedule meetings, maintain paperwork, etc.

Role Definitions

22

Seni

or A

dvis

orPl

anni

ng S

peci

alist

Clie

nt S

ervi

ceSp

ecia

list

Prepare

Conduct

Follow Up

Task 1.1

Task 1.2

Task 1.3

Task 3.1

Task 2.1

Task 2.2

Task 3.2

Task 3.3

Sample Process: Intro Meeting

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Post It Notes? Seems Awfully Low-Tech…..


Learning how to create processes is like learning arithmetic. You have to learn how to do the math before you can use a calculator.


25

Managing Your Sales Process on Redtail

Terminology and language really matter. Identify and define your terms and make sure everyone is in agreement.

Balance optimism and realism in your opportunity forecasting.

You can’t monitor what you don’t measure. Accurate data is important, but only to the extent that it serves management review and decision-making.


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Managing Data on Redtail -- Tips

Redtail is your data source. Excel is a tool used to manipulate the data, not to store it.

Talk to Redtail about tips and tricks they have to manage your client data.

This is not a one-time project. Things are always changing with your clients. You should review your data regularly to make sure your data remains accurate.


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Overview/

Define Your

Process

Define Classifications

and Source

s

Define Stages

Identify

Default Next Steps

Create Pipelin

e Report

Segment Your Client Base

Analyze Your

Client Base/Ide

ntify Ideal

Opportunities

Next TimeWednesday, August 27th

4:00 Eastern/1:00 Pacific

Today’s presentation and slides will be made available by Redtail via the

link below:


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http://help.redtailtechnology.com/entries/52534094-Redtail-Presents-ActiFi-s-Asset-Accumulation-Series-



Questions?

Brian Kostick763-746-1267

[email protected]

Rick Williamson800-206-5030 x1067

[email protected]

asset accumulation series webinar 3 of 7: define stages august 13, 2014

Documents

good fitprospect

existing clients

firmall rights

it8all rights

method qualified lead

processes tech ready

crmcentric practice

life event