The Firm of

the Future:

Implementing

Advisor

Teams

Paul Blanco

March 2013

L0113300278[exp1213][CA,CT]

Presentation Overview

Why Team selling is important to your firm and

our industry

Learn how to effectively partner advisors onto

productive teams

Review the team selling process

Sustain a culture of team selling at your firm

Barnum Financial Group’s

Steps to Success

Leaders Conference

Franchise Agreement

E-Relationships

SmartOffice

Marketing Musts

Welcome Packet

Mandatory Training

Community Work

Keep Score

Intrapreneurial President’s

Conference

PMA

Licenses

Segment-ABC

Target Seminar

Product Specialty

Annual Review

Client Service Model

Website

VIP Referral Process

Business Owner Chairman’s

Council

Designations

Media-TV/Radio

Hire More Staff

WSD

Team Selling

Junior Partner

Financially Yours

Value Proposition

Business Coach

Entrepreneurial AOE

Wealth Management

Affluent Market

Focused Marketing

Entertain/Network

Build A Brand

Book

Big Thinker

Top 7 Issues and Challenges Facing Advisors

4

1. Attracting new clients 53%

2. Meeting Compliance standards 47%

3. Developing relationships with CPAs, Attorneys, etc. 45%

4. Further developing your own expertise 44%

5. Identifying a successor 40%

6. Increasing productivity 35%

7. Having the time and capacity to service clients 34%

Why Move to A Teaming Platform?

5

• Enhanced Service

• Holistic Approach with Specialized Capabilities

• Business Continuity

• Business Growth through Leverage and Specialization

• Work-Life Balance

• Succession Planning

• Advisor Productivity

• Enhanced Recruiting Value Proposition

• Client Retention when Advisors Retire

• Client Experience Differentiation

• Attract and Retain Top Talent

• Innovation through Partnerships

Clients

Advisors

Firm

Company

Teaming Drives Advisor Success

6

Formal

Multi-advisor

Teams

Informal

Jt. Work

Relationships

Probability of success1

Indexed to 100

Likelihood of success for a

solo advisor . . .

. . . Increases to

more than 2x with

leverage

. . . and to more than

3x in multi-advisory

practices

1 Top quartile performance of all financial services advisors

SOURCE: 2008 LIMRA – McKinsey Financial Advisor Survey

Solo

Advisors

100

Definition of Teaming

A group of people with a full set of complementary skills required to

complete a task, job, or project.

Team members

(1) operate with a high degree of interdependence,

(2) share authority and responsibility for self-management,

(3) are accountable for the collective performance, and

(4) work toward a common goal and shared rewards(s).

http://www.businessdictionary.com

Everyone on your team has to be on the same

page with the definition of teaming.

Paul Blanco

Managing Director

-Established a culture of teaming and

partnership

-Advocate for the formal teaming

process

-Strong vision to advisors who would

be productive together

Mindee Blanco

T.S. Coach

-Spreads the teaming culture

-Forms, develops and optimizes teams

during both formation and

development phase

-Acts as the “heavy” when it comes to

decision making and accountability

Elizabeth Hiza

T.S. Project Manager

-Day to day contact with teams,

advisors, ASD’s and Mindee

-Manage process to keep teams on

track

-Communicate progress ,update

reports

Pessie Wong

Succession Planning

-Works with advisors to

valuate book

-Liaison between FP transitions,

advisor and BFG

-Presents findings to advisors and

managers

Joe LoPresti

Market Leader/ ASD

-Assists in holding advisors accountable

-Works with teams to develop goals and

objectives

-Acts as a liaison between advisors and T.S coaches

Start With The Right Team

Potential Team

Leaders

End-to-End Development Process

9

1.

Initial

Consult

2.

Opportunity

Assessment/

Team Vision

2.

Goals, Metrics

& Team

Strategy

3.

Growth

Opportunity

from Current

Clients

4.

Team

Structure &

Roles

5.

Client

Acquisition &

Marketing

6.

Team

Dynamics &

Account-

ability

7.

Client

Retention &

Service

8.

Refine &

Sustain Team

Strategy

3.

Candidate

Search &

Evaluation

Process

4.

Candidate

Search &

Evaluation

Review

5.

Team

Expectations

& Formation

Existing Teams

Formation

Development

Analyze Practice Strengths & Weaknesses

Create Smart & Effective Partnerships

Teaming Partnership

Business want Business need

Different skill sets Similar skill sets

A lifetime A period of time

Practice growth Compensation needs

Client Retention Client Acquisition

vs.

Start The Tough Conversation

Set Expectations with Short Term Business Goals

Start the Tough Conversation Discuss Compensation Early

Keep Score Every Week

ASD Role Is Critical

Team Organizational Chart

Team Lead

Junior Partner

Investment Specialist

Life Insurance Specialists

Marketing Assistant

-Provide client base

-Service top tier clients

-Accountability lead

-Service clients

-Manage team calendar

-Process paperwork

-Contact and service

B&C tier clients

-Prospect for new clients

at B&C level

-Open opportunities as

guided by the team lead

-Support investment needs

-Identify cross sell

opportunities

-Communicate information

and updates in a timely

manner

-Support life insurance needs

-Identify cross

sell opportunities

-Communicate information

and updates in a timely

manner

Define Roles & Responsibilities

On Going Coaching &Development

Marketing

• Team Bio

• Team Brochure

• Team Website

• E- Relationships for teams

WSD

• Alternate process for teams

• Changing how plans are being counted for advisors on teams

• eMoney discount

Operations

• All team applications are handled by the same ACP

Training

• All team members are invited to segmented training sessions

Alert departments to new teams during the

established and advanced phase.

Get Your Whole Firm Involved

Customized Marketing Material

Team Success

Art Gallant Associate

+303%, 248,281

Brooke Hourigan Team

Lead

+63%, 429,264

Peter Fasino Team Lead

+69%, 431,878

Team Hourigan / Fasino

Chuck Hite Team Lead

14% , 456,620

Marcello DePascale Associate

+23%, 246,842

Nicole Toussaint

Associate +21%, 100,594

Team Hite

Josh Howarth

• Team Lead: Ben Howarth, President’s Conference

• Role: Contact C clients

• +93% PY – 98,726

Tim Lemoine

• Team Lead: Steve DeGraff, Leaders Conference

• Role: Contact B&C clients , single product HH

• +84% PY – 147,564

Jeff Costa

• Team Lead: Andy Wigzell, Chairmans Council

• Role: contact 2010 RetireWise attendees

• +40% PY – 157,283

Team Success - Junior Associates

Career Development Gap

July-August 2012

Harvard Business Review

Team Communication

1x/mouth check in with team coaches

Coaches observe team meeting 1x/month

Review STBG 1x/year

Review MOU 1x/year

Weekly activity updates

Management Communication

Team coach update managers and department heads monthly

ASD’s updated as needed

ASD’s observe advisor team meeting monthly

Firm Communication

Paul presents teaming concept 6x/year at firm events

Paul observes advisor team meeting quarterly

Sustainment & Growth Strategy

QUESTIONS