making the shift to wealth management crm

© 2014 Maximizer Software Inc. WWW.MAXIMIZER.COM

11:00AM PT / 2:00PM ET

PC Audio Broadcast is Available

Conference Call: 1-877-668-4493

Meeting Number: 662 482 990

Event Number : 662 482 990PC Audio is Available

OR Call-In Number: 1-877-668-4493


Today Agenda

• The promise v. reality of CRM• The SHIFT to industry specific CRM • 5 Reasons to Make the SHIFT • Demo: Maximizer Wealth Management Solution• Questions and Discussion


Today’s Speaker

John Easton Strategic Accounts – Wealth Management

John has been focused on CRM technology for 15+ years, specializing in product management and developing strategic relationships at Maximizer Software.

With a background in technology and Economics, John possesses a unique perspective on tech and the market drivers that turn products into innovative and lasting solutions.


The Promise of CRM • Increased revenue • Scale growth • Improved service• Increased practice value• Effective delegation• Increased efficiency

The CRM Promise: Build and Manage Relationships


The CRM Reality for Advisors• Lack of time to manage and implement• Limited technical expertise • Potential a high upfront costs• No clear ROI• Fear of the unknown


A Changing Landscape• Information overload• Increasing expectation for levels of service• Complex and shifting regulations for compliance• Expanding competition and options for clientele


Where to begin?

What should you be asking of your CRM technology?

What can I adapt or change to meet my business goals?

How can a WME specific solution help?


Dangers of Limited Profile

• Lower level of client satisfaction • Treated like number 028030-3

• Incomplete history of all client interactions

• Inability to segment clients to manage service levels and find revenue opp.


Client Profiles 4 Core Areas of a Client Profile:• Demographics— Age, gender, employment status, relationship

status, family position, corporate position

• Compliance – Risk tolerance, investor acumen, objectives

• Goodwill - Record what’s really important to the client or prospect. Data that you will want to record is family members, charities supported, religious preference.

• Financial Objectives- The minimum data set here would be a place to record and easily retrieve information on financial profile, history and investments


Focus on the ‘C’ in KYC • Intuitive data capture to eliminate administration

• Easy to change and adapt• What data is required today versus next year?

• Foundation of ‘real’ client engagement

• Make KYC data work for you• Segment data to prioritize client management


Create a ‘One View’ World• One view of client history

• Notes, calls, emails and client profile

• Shared view of core client information• Key details NOT all information

• Delegation of tasks and activities• Shared calendar of team schedule

Goal: Visibility + Collaboration


Why is technology crucial?

• Preserve the practices' business value to enable retirement

• Ability to recruit and train new talent are important to continuity planning

• Vital that advisers have the right technology in place to support the future of their businesses


Evaluating Book Value

• How would you articulate the value of your business?

• How would a potential buyer/partner clearly see this value?

• Well managed CRM versus Ad-Hoc process


Expectations for ‘Unique’ Service

• Do you have the ability to segment clients by service level? • All information available? At any time?

• Customized service plans based on demographics? • Millennial versus Boomers Versus New Clients

• Ability to customize communication• Best mix of phone, email, text?


Monitoring Metrics • Measure

• Personal performance targets versus firm targets• Performance to revenue goal• New customer acquisition • Volume of potential client pipeline

• Monitor • Dashboard of top client• Group performance to revenue target • Performance versus YoY or historical expectations • Client service levels

Goal: Business performance forecasting


Process Overload• How much of your day-to-day process is

repeatable? • Trade Recommendation, Prospect Meeting

• Identify repeatable process • Map a flow of tasks for recurring events• Create shared ‘Action Plans’ with all

stakeholders


Process Overload

• Develop a repeatable workflow within CRM• Shared responsibility for process• Identify ‘special/difficult’ clients for special

treatment• Look for opportunities to delight clients

Goal: Save Time + Delight Clients


Action Plan: Client Meeting

IA to complete

and return NCAF/KYC for fastapp

forms.

Assistant completes and prints fastapp.

Client/IA sign wet fastapp

Void Cheque

Received DL Copy

Received

FastApp Docs

dated and signed

Docs upload

onto fastapp.

Email Mandator

y Client Package

Update CRM

Client profile

notes and meeting

follow up task


DEMO


Case Study


Investment Advisor Team

Investment Advisor

Administration Assistant

Associate, Portfolio Solutions

Investment Advisor

Administration Assistant

Associate, Portfolio Solutions

Regional Office


Business Goals• Existing Clients

• Provide the highest level of service to existing clients• Expand the depth of service offerings provided

• New Clients• Efficiently process new account openings • Repeatable, highly efficient new client process

• Potential Clients• Identify and manage pipeline of new potential clients• Effectively communicate and develop a client profile


The Business Challenge• Time Management

• Internal Information Management• External Information Management

• Developing a Financial Snapshot• Integrated technologies built around a CRM so that an

advisor can see a 360 degree view of their client

• Managing Compliance• Using CRM to maintain critical compliance trail


The Solution• Developing a process for all stages

• Simplified and repeatable client process

• “Action Plans” for each stage• KYC Review • Client onboarding process

• Daily Action Plan• Hotlist tasks, alerts and follow up activity• Manage and delegate across team• Segment by prospects and customers


Case Study Results• Efficiency in Process

• Creation of repeatable business process in the CRM

• Value of complete information• Increased discipline within meeting notes• Bigger picture of unique client needs

• Automation to save time• Transactions you need to avoid

• Lower costs of staff per client • Easiest process to follow Ex: Quarterly Reviews

• Ensuring a consistent client experience


Action Plan: Client Meeting

IA to complete

and return NCAF/KYC for fastapp

forms.

Assistant completes and prints fastapp.

Client/IA sign wet fastapp

Void Cheque

Received DL Copy

Received

FastApp Docs

dated and signed

Docs upload

onto fastapp.

Email Mandator

y Client Package

Update Max

Client profile

notes and meeting

follow up task


Visit: maximizer.com/wealth

Request Demo: [email protected]

mailto:[email protected]

making the shift to wealth management crm

Economy & Finance

maximizer software

crm promise

crm technology

reality of crm

crm reality

industry specific crm

client profiles

service levels