Download - UBS - Core Affluent Convention (2006)
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WMI - Core Affluent Convention 2006Spirit, Pride and Joy
Welcome!
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Introduction
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Core Affluent Spirit, Pride and Joy
Raoul WeilHead Wealth Management International
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CorA HNWI KC
54
101
155
You work in the most profitable segment in WMI
Segment comparison RoA (bps)
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Distribution of IA in CHF
CorA HNWI KC
54
101
155
You work in the most profitable segment in WMI
We can grow and we will grow with the Core Affluent segment in WMI.
Segment comparison RoA (bps)
WMI World
1230
42
50
46
20
773 bn 46'117 bn
+ = up to CHF 2.5 bn revenue potential
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WMI Think client, grow commercially
Client focus UBS Client Experience Lead Offering per Segment Client defection
management
Growth Best shift Prospecting Share of wallet
Talent Using Best Practice Recruiting and Integration CA Certification per
segment Desk Head Training Program
Efficiency Sales Management Process Using Best Practice Tool Usage
ProfitabilityQuality
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Client Experience drives growth!
The Spirit, Pride and Joy of WMI Core Affluent
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Client Focus
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Client Focus Think client
Jrg ZeltnerCEO Germany Domestic
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Think client, grow commercially.
Raoul Weil
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Client focus in our lead offering:
Our offering is always integrated into the UBS Client Experience
Mandate and Advisory Solutions
Liability Management
Life Cycle Management
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Client Retention Index: help the CA identify clients at risk of defecting.
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Gary Wai Bong Chang, Tokyo
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Client Focus
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The special spirit of our segment:
The most profitable segment within WMI
The highest RoA in our segment
We generate substantial revenues
Our client base forms the major part of WMI clients
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Spirit, Pride and Joy!
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Client Focus
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Client Focus Living the Value Proposition
Karl SchwarzSegment Head Core Affluent BU BGC
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Our job, a source of pride and joy!
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Because we do not focus on us, but on our clients.
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The WMI Core Affluent Value Proposition
Bank Client Advisor Client
Bank's perspective- ideal positioning of segment- maximizes revenues- information delivery streamlined
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Bank Client Advisor Client
Client Advisor's perspective- allow excellence at job,- fulfill high ambitions, and- deliver top quality solutions to their clients
The WMI Core Affluent Value Proposition
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Bank Client Advisor Client
Client's perspective- segment specific benefits of UBS Client
Experience- image of strong and trustworthy partner- providing security and peace of mind
The WMI Core Affluent Value Proposition
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Client Advisor Work BenchProducts and ServicesProspect/Pipeline ManagementReportingCommunicationTraining
The WMI Core Affluent Value Proposition
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It's not only about tools, processes and training...
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...it's a new philosophy!
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Double client time.
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Make sure we will be there at the right moment.
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The Value Proposition is US ...
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... WE are the Value Proposition!
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Proud of working in the most successful, most challenging segment.
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Focus on clients, and watch the revenues rise.
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WMI - Core Affluent Convention 2006Spirit, Pride and Joy
Coffee Break
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Growth
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Growth Where are the millionaires?
Michel GuignardRMM North America
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If you are looking for small potatoes ...... you will get small potatoes.
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Vision and Ambitions Millionaires BU Americas
Team Millionaires LATAM- Vision: Our goal is to rank among the top 3 banks for Millionaires in each market by the end of 2008
- We want to grow and develop our clients and build up a stable source of money inflow by improving client satisfaction and increasing contact intensity
Team Millionaires NAM- Growth of invested assets of 1% p.a. (Mio NAM)- Stabilize client base and increase efficiency in service and acquisition- Foster innovation where the skills and diversity of our employees are fully leveraged and where creative ideas are pursued
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50
100
150
200
NNM RoA
168
33
168
15
NNM and RoA Ambition
50
100
150
200
NNM RoA
137104
129143
NAM US Intl. MillionairesLATAM Millionaires
Actual/Ambition
RoA: -6%NNM: +38%
ActualAmbition
Actual/Ambition
RoA: 0%NNM: -54%
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0.5
1.0
1.5
2.0
2.5
3.0
JAN 06 FEB 06 MAR 06 APR 06
0.90.71.31.10.5
1.0
1.5
2.0
2.5
3.0
JAN 06 FEB 06 MAR 06 APR 06
0.5
1.0
1.5
2.0
2.5
3.0
JAN 06 FEB 06 MAR 06 APR 06
2.7
1.10.81.10.5
1.0
1.5
2.0
2.5
3.0
JAN 06 FEB 06 MAR 06 APR 06
NNM/CA and RoA
NAM US Intl. MillionairesLATAM Millionaires
NNM/CA
RoA
180
140
100
60
20
180
140
100
60
20
65% of CA are NNM-positive 40% of CA are NNM-positive
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500
1'000
1'500
2'000
2'500
3'000
3'500
JAN 06 FEB 06 MAR 06 APR 06
2'8362'8052'7182'681
500
1'000
1'500
2'000
2'500
3'000
3'500
JAN 06 FEB 06 MAR 06 APR 06
2'9952'8822'6902'622
Mandate Count
NAM US Intl. MillionairesLATAM Millionaires
Avg Monthly Growth Rate 06
absolute: +124 relative: +5%Discretionary Share: 23%
Mandates
Avg Monthly Growth Rate 06
absolute: +52 relative: +2%Discretionary Share: 58%
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Initiatives and projects for growth
Referrals (Roland Eduah)
Segment-Mover Concept (Marcel Tschanz)
Potential Project (Michel Guignard)
Regionalization (MS MAP-point)
Telephone Campaigns (UBP)
Video Training (UBP, Role Play)
Multi-Channel Direct Marketing
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Potential project
In search of the big potatoes
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Potential project: the concept
search contact refer
KYC Center Team
- analyze- assess- assign
Client Relationship Facilitator
- one call- one chance- one shot
WMISFAWM US
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Thorough organization and structured processes
US KYC Profiler
- 2-3 full time researchers- high diversity background
Talented Profiler Search Team
Structured Processes Access to internal and external databases
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KYC Center and Client Relationship Facilitator
KYC Center (Kick-off: April 2005)
Scope of activities to date:- 21'725 name accounts to be reviewed- 12'600 named accounts assessed:
- 210 high potential prospects- 2'500 interesting potential prospects
Client Relationship Facilitator (Kick-off: April 2005)
- 170 files transferred- 115 successful client contacts (68% hit ratio)- 73 appointments (61% hit ratio)- 15% of contacts not interested to pursue
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Recent success stories
Client Relationship Facilitator (one HC since 3 months) CHF 5 m NNM (MFP) Referral to WM US with potential of USD 5 m RFP for CHF 5 m fixed income mandate (high probability)
12 accounts referred to KC-Advisor 37 accounts referred to HNW-Advisors
USD 500 m IPO with potential KC-business of Swiss based US oil and gas bunkering company
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Go for big potatoes!
We are dealing with millionaires!
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Growth
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Growth Team up with your partners
Marcel TschanzSegment Head Latin America
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Partners to success
Client development and prospect allocation are not independent from each other but based on the same understanding of a segmented value proposition
Partners A
broadBooking Center
Affluent Core Affluent HNW KC
Acquisition
Prospect Allocation
Client Development
Clear rules and guidelines Consistent target setting
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Client potential development
Growth by identification and development of client potential in a true partnership approach
CorA CA
Service Intensity
Identification Development
Development Take OverHNWI
up to 6 months 12 months
DistinctService Level
teaming up between CorA and HNWI CA
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The Desk Head moulds the way
One identical message from all levels of management The segment mover approach as a clear and measurable part of the PMM Complete the segment specific sales set-up with platforms to exchange
across segments Important: establish plans and continuously coach and manage the
personal development of all client advisors and assistants
and foremost: Walk the Talk team up and frequently exchange with DHs of the other segments
foster the built-up of teams amongst the client advisors
Pro-actively manage the segment mover approach
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Growth
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Growth Living the referral culture
Roland EduahSegment Head US
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Referral culture needs team approach
Microsoft Corporation 1978 Would you have invested in this team?
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The prerequisite
CorA HNWI 1 & 2 - Key Clients - FIM
83%
17%
Percentage of WMI assets
53%47%
Percentage of WMI clients
73%
27%
Percentage of WMI revenues
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Leveraging the client base: types of referrall
86% of clients would have referred relatives would they have been asked
Question requires diplomacy and sen-sitivity (selling the whole organization)
Find the right partner to refer the client to
Referral agreements
The external referral The internal referral
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Think about the way you contribute to growth...
The external referral- Do I know how to identify which client I could ask for a referral ?- Do I know how to ask for it ?- Do I know where and whom a prospect can be referred to ?
The internal referral- Do I know where and whom in the organization a client can be referred to ?- What's in for me if I play as a team player ?- Do I know what needs to be ensured for me to be allowed to refer a client across organizational boundaries ?
- Do I ensure a smooth transition whenever the client grows over my head ?
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The dynamics of CorA
ServiceExcellence
Happy Client Referral
New Client ServiceExcellenceHappy Client Referral New Client
Service Excellence
Happy Client Referral New Client
Service Excellence
Happy Client
Service Excellence
Happy Client Referral New Client
Happy Client
Service ExcellenceReferral New Client
Service ExcellenceReferral New Client
Happy Client Referral
New Client
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Growth
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Workshop on Growth in Assets
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Establishing a platform of constant exchange of UBPs
Set up:- One prominent moderator per group- Eight to nine participants- Group members come from same location/ region- Symbol on the Badge shows ones group
Time Line:- 45 minutes workshop- 15 minutes presentation of results (3 presenting groups chosen at random)
Ambition:- Identify Key Success Factors- Set clear actions/ action plans within each group
Exchange of best practices and think tank for fresh ideas across BUs
Groups stay together and meet on a regular basis in their locations
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WMI - Core Affluent Convention 2006Spirit, Pride and Joy
Lunch Break
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Efficiency
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Efficiency You & Us
Dieter KieferBU Head Western Europe
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Improve Client Focus
Trigger Growth
Efficiency
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Double Client Time
Spend more time with clients
Focus beyond current client book: Pipeline management
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Efficiency generates growth
UBS Client Experience: understand better what clients really want
Lead Offering: Strong offering that can be easily adapted
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Efficiency:
Achieve individual growth ambitions
Achieve bank's target to grow
Improve individual work-life balance
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More time spent on and with clients: increase the joy felt in our work.
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Challenged to continuosly look for ways to improve.
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Efficiency is a process, an evolution, in which your input is absolutely necessary!
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Our vision: relationships on muliple levels:
Over the phone
Over the internet
Through meetings, both in our offices and on location
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From CorA Line to UBS Access Line
Serve whole Core Affluent client base by the end of 2007
To become a Client Book Management Centre
Take care of standardised tasks to free CA time for personalised contacts
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Three future developments
Centre for incoming and outbound calls on your behalf
Access Line as a training ground for Client Advisors
High-end connection from CAWB to clients: e-mail, video, voice over IP
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We are looking at a future in which spending less time on administrative work and more on our clients will be a reality.
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Efficiency
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Efficiency You & Us
Daniel LippSegment Head Western Europe
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Initiatives of our CorA segment:
ACT
CRI
CorA Line/UBS Access Line
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UBS Access Line WMI
Pilot start April 2005
Main objective when pilot started- facilitate client contact with bank through an alternative channel- relieve CA of non-productive inbound calls- provide top quality telephone service
Main results- positive impact on client time x 2- better KPIs (NNM, DMS, AMS, client retention)- client satisfaction
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Efficiency
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UBS Access Line WMI
Where we are going from here:- CorA Line becoming UBS Access Line WMI
- from pilot to business entity
- from 17 to 60 CAs hooked up
- from 7000 to > 20'000 clients
- from 5 to 15 call agents
- rollout: Starting 2006
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UBS Access Line WMI
ConsequencesMajor implications in terms of:- security- logistics- HR & Education- service
UBS Access Line: front runner for new technology
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Efficiency
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Efficiency Triple Jump 2006
CorA Competition Q3/Q4 2006
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Overall Objective
Introduce new CorA philosophy Spirit, Pride & Joy and boost Growth in Revenues & Growth in Assets
Foster segment specific community spirit Entrepreneurial spirit and teamwork will characterize
the best teams
An exclusive CorA competition creates pride
Live this new dynamic philosophy Prizes for the whole desk Team Spirit and Joy at work
Spirit
Pride
Joy
Growth- in revenues- in assets
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Structure and its objective
Be growth oriented and keep everybody on board until the end
3 July 2006: Kick-off One common Kick-off, three different endings
Jump 1
Jump 2
Jump 3
Investment Funds and A&Q
Mandate Solutions
Net New Money (market adjusted)
July August September October November December January
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Prizes - CorA Triple Jump
Be growth oriented and keep everybody on board until the end
Jump 1 Investment Funds and A&Q
Aim Increase activity in the quiet summer months
Focus Lead Offering Funds and A&Q
Why IF Best Shift, Introduction of the WMI Investment
Fund Lead Offering and new NTAC Offering
Duration 2 months (July and August)
Reward 3 days Alinghi Sailing Academy in Valencia for the winning team IF
and 3 top-performers A&Q
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Prizes - CorA Triple Jump
Be growth oriented and keep everybody on board until the end
Aim Best shift, higher RoA and increased efficiency in CorA
Why Focus on the most important CorA products
Duration 4 months (July to October)
Reward will be announced in September
Jump 2 Mandate Solutions (Mandates, AAF & ARF)
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Prizes - CorA Triple Jump
Be growth oriented and keep everybody on board until the end
Aim Effective client book management and reduction of client defections
Why medium and long term goal of UBS
Duration 6 months (July to December)
Reward will be announced in November
Jump 3 Net New Money (market adjusted)
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Measurement Investment Funds
Team performance brings the whole desk to Valencia
For investment funds campaign Funds ex AAF & ARF % MMF will be measuredThe current penetration plus increase in penetration will be measured
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Measurement A&Q
Individual top-performance will also be rewarded
Three A&Q top sellers (Syros subscriptions)
Ticket to Valencia
The three CAs with the highest A&Q volume until 1 September 2006 win
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Measurement Mandate Solutions
Fair, transparent, on a monthly basis
Tracking tool: White Spot Analysis
For mandate solutions campaign Total Mandates and AAF & ARF will be measuredTeams can follow their own performance based on White Spot
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Fairness
Based on the successful Triathlon competition (BC Germany) we grant:
10 points for every 1% of existing penetration + 100 points for every 1% increase in penetration
The team with the most points at the end of each Jump wins!
Measurement investment funds and mandate solutions
Fairness and transparency, the core of the competition
Transparency
Ranking is updated monthly together with the White Spot Report
15 Top teams displayed on the CorA page (monthly)
Rankings and results of the remaining teams will be given on the request of the DH
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Measurement NNM
Fair, transparent, on a monthly basis
NNM figures will be adjusted regarding to market clusters: Established, Growth (Europe), Growth (rest of the world), Start-up
Cluster multiplierNNM figures team
Adjusted points for NNM
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WMI - Core Affluent Convention 2006Spirit, Pride and Joy
Coffee Break
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Talent
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Talent The Italian Experience
Francesco MorraBU Head Italy
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CorA Italy: large, growing market of 1.7 m HHs, 460 bn assets
~7.5%
Segment Clients (Households)
CorA ~1'700'000
Ultra-HNW
HNW
Mass Affluent/Retail
Onshore assets ( bn)
~460
~50% of relevant wealth
Growth (05-08 CAGR)
~7.5%
Solid growth
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Lead Offering
Talent development key for successful business in Italy
Savings
Financing
Wealth Accumulationand Preservation
Wealth Protectionand Transfer
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Required Skills Set
Talent development key for successful business in Italy
Client Screening Capability
- Existing Clients
Direct Calling Capability
- Prospects
Cooperation Capability with Multipliers
- Prospects
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Talent development key for successful business in Italy
Planned locations
Current locations
Planned locations
Current locations
Jump to attractive new areasExpand around big centersand current locations
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(1) 2 additional locations to be added in 2011 to reach the 20 branches target
Contribution of CorA business always positive
2005 2010 2005-10
Number of branches 9 18 2x
IA 2.6 7.4 2.8x
Number of CAs (average) 53 162 3.1x
NNM per CA ( mio.) 5.4 9.3 1.7xRoA (bps) 113 146 1.3x
Net revenues ( mio.) 24.4 103.4 4.2x
1
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Guiding principles
CorA a natural entry point
CorA CA career path attractive
Support and professional development of CorA CAs
- Teaming - Training
Certifications- WM Diploma - TSR
CorA leadership culture
TeamingModel Training
Compen-sation
Development path
CorA CA career model
Entry
Selection
UBS CorA CA career and talent model
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CorA CAs with clear development path at UBS
Prerequisite skills
- HNW HNW / Market Mgmt. / Functions(1)
HNW / KC /Functions(1)
HNW / KC Career options:Change to
Ready to team with and coach junior CAs
Experience Large client
book
Lead a team/desk None/very limited
Ability to acquire clients autonomously
CA WM 1('Junior CA')
Senior CA WM 1DH
For 1 - 2 yrs
After 6 8 yrsAfter 6 8 yrs
For 2 4 yrsFor 2 4 yrs
CA WM 2CA WM 3
UBS CorA development plan
(1) e.g. P&S, Operations, Sales Management
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Teaming Model: Objectives and planned approach
CA teaming within desk
Experienced Junior
CoachSupports junior CA for success
New CALearns from experienced CA's, but is not his/her assistant
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CA training program aligned with career step first outline
Mandatory training Need based ad-hoc training
Banking skills
Leadership skills
Training element Training offering per career step
New joinersprogram
Individualized training (ad-hoc)
New product introduction / IT tool training
CA WM 1('Junior CA') Senior CA WM 1 DHCA WM 2 CA WM 3
New DH programCoach/mentor program
Personaldevelop-ment
Seniority
FinancialIntermediaryPreparation
Client service and acquisition proficiency
Client service/ acquisition skills
Certifications
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UBS views all its employees as its talent.
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We want to grow as an organisation and to do this we need to have the best talent.
Raoul Weil
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Attract, develop and retain the best and brightest people for CorA.
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Attract
Develop
Retain
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Talent
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Talent You & Us
Nicla PedrazzettiSegment Head Italy
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It all begins with my own people, my colleagues - with us.
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We have to be convinced of what we do and why we are doing it.
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The basis of CorA from my point of view:
Efficiency
Openness to new ideas
Innovation
Empowerment
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It all begins with YOU.
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Carry the pride you feel to your people.
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Not every CA is an entrepreneur, but it's our job to coach them to become one!
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How can we make our CAs live Spirit, Pride and Joy in their daily work, in front of their clients and in their private lives?
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Workshop on Talent
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Italy CorA: No Performing CAs (evolution)
-200'000
-100'000
0
100'000
200'000
300'000
400'000
500'000
20042005
NN
M c
umul
ated
CAs
10 20 30 40 50 60 70 80 90
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Talent Attraction: Workshop TemplateMain Issues Key Success Factors Actions
How can we improve our entrepreneurial spirit
How can we bring pride to our CorA sales force?
What can we do to have our sales force
having joy in daily business?
Topic
Spirit
Pride
Joy
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Conclusion
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Conclusions
Raoul WeilHead Wealth Management International
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WMI - Core Affluent Convention 2006Spirit, Pride and Joy
Good Bye!
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