Advisory Firm Success Story

PROBLEM TO SOLVE:

   •    Unable to attract advisors with books of business to join the firm
   •    Unable to attract operations staff to join the firm
   •    Unable to accommodate more advisors due to lack of space
   •    Difficulty increasing the wealth management business without increasing the size
         of the staff.
   •    No monitoring of projects and current staff workload
   •    Unable to market to new leads due to lack of time and website
   •    Overwhelmed and disorganized

 

SOLUTIONS RECOMMENDED & IMPLEMENTED by COO

CRM: Redtail enhanced with eliminator of 70% of inactive contacts and new segmentation
DOC MGMT: Net Documents and integrated with Redtail
DICTATION: CopyTalk and integrated with Redtail for rainmakers
PORT MGMT: RocketIt services enhanced
EMAIL: Redtail with Smarsh archive and integrated with Redtail
FINANCIAL PLANNING: Money Guide Pro and integrated with Redtail
EMAIL DRIP: Redtail Broadcast Email
FORMS: Laser App Group and integrated with Redtail
HARDWARE: phone headsets, dual monitors, desktop scanners
WEBSITE: moved from under construction to published
STAFF: attracted new planner candidates
OUTSOURCED: Outsourced Bookkeeper, Virtual Assistant, IT Provider
PROCESSES: Lead to Prospect, Prospect to Client, New Client On Boarding, Annual Client Servicing, Investment Reporting, Marketing

 

SUCCESS!

WITHIN THE YEAR:
 
   •    $20 million AUM growth
   •    Staff attrition of $80,000 with no need for replacement due to productivity
         increase
   •    Reduced cost of new office space lease cost due to drastic reduction of need for
         square footage & gained 3 more offices
   •    CRM navigation speed drastically, thus improving productivity
   •    Attracted seasoned younger advisor
   •    Quicker onboarding of new clients and new hires

 



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