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Roadmap to Recovery Workshop                

Week One

Value Proposition
Without a clear and concise value proposition, growing a broker-dealer is difficult, if not impossible.  We discuss current value propositions as well as specific ways to differentiate a firm’s value and communicate these to prospective advisors.

Payouts and Pricing
Clearly defining the enterprise’s targeted audience is the first step in establishing successful payout and pricing models.  Consider the many questions advisors will have and being ready to field those will go a long way to preparing enterprises’ responses.

Week Two

Target Advisor Audience & Demographics
As in every marketing scenario, it is important to identify advisors the enterprises would like to add to their group.  Long-term considerations should be the focus.

Wirehouse Advisors
Considerations for targeting these advisors and what specific assistance they will need are discussed.

Independent Advisors
The time commitment necessary to include this group as well as identifying personnel qualified to assist in their needs are deliberated.

Week Three

Marketing your Enterprise
Best practices to include in every approach as well molding these into the overall culture of the enterprise is critical.  Establishing a detailed model in the enterprise’s approach provides consistency.

Building a Pipeline
Incorporating the consistent use of a CRM system and tracking marketing strategies is imperative.  Establishing a marketing budget and also tracking successful marketing efforts builds a more effortless and stable foundation.

Week Four

Pipeline Movement
Is a full-time recruiter needed on staff?  Consider the outlined marketing efforts and personnel dedicated to efforts to build the organization prior to answering the question.

Prospect Experience
What is the prospect’s interaction with the enterprise like?  Who handles the negotiation?  Is the prospect hosted at the enterprise or only at the broker-dealer.  Consideration for all of these and the thought processes behind them are analyzed.

Advisor Retention
The mechanisms in place to retain advisors are too often overlooked.  Establishing consistent practices to maintain quality relationships can help eliminate disgruntled advisors.