advisor onboarding
TRANSCRIPT
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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?