Essential Advisor Certificate Program

In the evolving FinTech industry, a new initiative was introduced - the Essential Advisor Certificate Program. This program aimed at financial advisors, bankers, insurers, independent brokers/dealers, and RIAs (Registered Investment Advisors), with a first-year audience of 66 participants. Notably, the program was nominated for the Money Management/Barron's Industry Award in 2017 for its impact on advisor development.

The Challenge

The program was designed to address specific needs within the advisory community:

• Equip advisors to articulate a distinctive value proposition.
• Enable the effective use of technology and data in client decision-making.
• Implement a repeatable service model to save time and resources.

The Solution

The solution encompassed a comprehensive approach to sales and service enhancement:

• Technical eLearning: Provided advisors with the necessary technical background and updates.
• Protocol Development: Aimed at establishing standardized processes for service delivery.
• Capstone Project: Allowed participants to apply what they learned in a practical setting.

This multifaceted approach was structured to fill gaps in narrative creation and execution, utilizing firm-driven content and analyzing available systems and usage rates.

The Results

The program's effectiveness is reflected in several key areas:

• Advisory Fees: Program participants experienced a reduction in fees of 5-10%, demonstrating the program's efficiency in reducing costs.
• Asset Growth Rate: Participants saw a 40% growth rate compared to 27% for other platform users, indicating the program's positive impact on asset accumulation.
• Outsourcing Ratio: There was a notable difference in the utilization of third-party investment managers and programs, with program participants showing a lower dependency compared to the average.

These results were based on data as of April 30, 2018, highlighting significant achievements in advisory efficiency and asset growth.