If you're an investment advisor or an someone who works in wealth management a CRM is a critical tool that you may not be using effectively (if at all). In this presentation you will discover exactly how a CRM can solve the common problems faced by those who work in financial management.

2. The Promise of CRM
• Increased revenue
• Scale growth
• Improved service
• Increased practice value
• Effective delegation
• Increased efficiency
The CRM Promise: Build and Manage Relationships

3. Reality for Financial Advisors
48% of advisors said they need help in at
least six of the seven areas of CRM
– ActiFy, Inc 2011
25% of financial advisors said they do not
use a CRM.
– Aite Group 2012

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

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

6. Where to begin?
What should you be asking of your CRM
technology?
What can I adapt or change to meet my business
goals?

7. Step 1:
Create a ‘One View’ World

8. Step 1 - Create a ‘One View’ World
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 Planning - The minimum data set here would be a
place to record and easily retrieve information on financial
profile, history and investments

9. Step 1 - 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

10. Step 2:
Focus on the ‘C’ in KYC

11. Step 2- 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

12. Step 3:
Embrace Prospect Nurturing

13. Step 3 – Embrace Prospect Nurturing
• Welcoming PROSPECTS to your CLIENT management
– Building a pipeline of NEW business
• Online engagement and lead capture
– Seamless integration is crucial
– How quickly do you engage a new potential customer?
• Targeted PROSPECT email campaigns and outreach
– Automated but focused on adding value
– Put potential prospects through a nurturing process
– Manage high value referrals through a different campaign
– Personalized with your own message – not corporate

14. Web to CRM Lead Capture
• Seamless entry into your CRM
• Eliminate slow follow up and data leakage
Goal: Nurture Future Clients

15. Step 4:
Go Social – Listen and Engage

16. Is there ROI in Social Media?
Over 40 percent of Enthusiasts indicated they have
successfully generated revenue based upon LinkedIn-
related efforts. – Harvard Business (2013)
78.6% of sales people using social media to sell out
performed those who weren’t using social media -
Social Media and Sales Quota Survey (2013)

17. Step 4 – Go Social – Listen and Engage
• Common barrier for investment advisors
– Limited awareness or expertise
– Concern of data security
– Legal and reputational risks
• Realistic strategy to start: LinkedIn
– Focus on LinkedIn
– Build personal professional profile
– Expand and connect
– Join industry related groups
– Share relevant content to your audience
Goal: Link Efforts to Your CRM

18. CRM LinkedIn Integration

19. Step 5:
Make ‘Process’ a Competitive Advantage

20. Step 5 Make the ‘Process’ a Competitive
Advantage
• How much of your day-to-day process is repeatable?
– FastApp, Trade Recommendation, Prospect Meeting
• Identify repeatable process
• Map a flow of tasks for recurring events
• Create shared ‘Action Plans’ with all stakeholders

21. Action Plan:
Client Meeting – FastApp (Day 2)
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

22. Step 5 Make the ‘Process’ a Competitive
Advantage
• 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

23. Step 6:
Mark your Smartphone, Smarter

24. Step 6: Make your Smart Phone Smarter
• Managing the NEW level client expectation
– Availability and engagement
• Productivity and Time Management
– Work, update and manage tasks
– Capture client updates and invaluable notes
– Maintain connection and collaboration with office
• Secure but Mobile
– Easily accessible but security is maintained
Goal: Optimize Out of Office Efforts

27. Step 7:
Measure + Monitor = Money

28. Step 7: Measure + Monitor = Money
• Measure
– Personal performance targets
– Performance to revenue goal
– New customer acquisition
– Volume of potential client pipeline
• Monitor
– Dashboard of top customers
– Group performance to revenue target
– Performance versus YoY or historical expectations
Goal: Business performance forecasting

31. Case Study

32. DundeeWealth Profile
• DundeeWealth's brokerage business is made up of
DWM Securities Inc., Dundee Private Investors
Inc., Dundee Insurance Agency Ltd., and Dundee
Mortgages Services Inc.
• These operations include a full service investment
dealer engaged in wealth management & financial
advisory services, retail brokerage, financial
planning, mutual fund dealership, a full service
Managing General Agency (Insurance), and Mortgage
services.
• DundeeWealth has approximately 1,000 Advisors
dealing with the public.

33. Investment Advisor Team
Investment Advisor
Administration
Assistant
Associate, Portfolio
Solutions

34. 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

35. 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

36. The Solution
• Developing a process for all stages
– Simplified and repeatable client process
• “Action Plans” for each stage
– Trade recommendation process
– Client FastApp process
• Daily Action Plan
– Hotlist tasks, alerts and follow up activity
– Manage and delegate across team
– Segment by prospects and customers

37. Action Plan:
Trade Recommendations – New
Money
New
money, recommendations
needed. Day1
Send Portfolio
recommendations. Day4
Follow up on
recommendations. Day5
Confirm and place trades.
Day6

38. Action Plan:
Client Meeting – FastApp (Day 2)
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

39. 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

40. Planning a CRM Strategy?
• Ensure CRM is as a core anchor to their
communications and records.
• The CRM solution needs to be scalable and
adaptable in order to be truly effective.
• Look for to use CRM for all checks and
balances, whether compliance or otherwise.
• Critical that advisors embed their processes
into the CRM to gain the biggest ROI

41. Maximizer CRM for
Wealth Management
A complete solution to help investment advisors easily manage
and build their ‘book of business’ with a simply to use, highly
secure and easily customized solution.
Learn more at http://www.maximizer.com/wealth