Maximizing Call Power—Wealth Management

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Business Issue - Increased competition and client expectations require relationship managers to differentiate themselves and their banks more skillfully to grow market share or build share of wallet. Successful financial institutions will establish and maintain competitive advantage by equipping their Wealth Management salespeople to:

Position themselves and the institution as partners to their most important clients by focusing on client needs

Cut cycle time in the sales process by assuring that every sales minute is leveraged to its full potential

Capture the results of sales calls and coordinate deliberate action steps to close business

Omega Performance’s Solution - Maximizing Call Power—Wealth Management teaches experienced relationship managers, product specialists, and other members of Wealth Management sales teams the skills and best practices necessary to develop and cross-sell to the affluent market. The focus is on building proficiency in three high-impact areas: leveraging call power (relationship planning), focusing call power (a five-step call process), and capturing call power.

What Is Included

Maximizing Call Power—Wealth Management is a highly participative, interactive workshop that spotlights the best sales practices of high-performing relationship managers and sales professionals outside the banking industry. The following is included in the workshop:

Leveraging Call Power demonstrates the value of relationship planning and teaches participants to establish call objectives that will advance the relationship as well as the bank’s unit goals. The module teaches the high-impact calling skills of decision center mapping, personal information profiling, and needs-oriented questioning.

Focusing Call Power teaches a five-step call process and the high-impact skills necessary to execute the process successfully. It provides for practice and feedback on each high-impact skill: needs-oriented questioning, communicating benefits, and resolving objections. In addition, the module includes two videotaped skill practices in which participants apply these high-impact skills to conducting a complete sales call. Participants receive balanced feedback about their use of the process and the skills.

Capturing Call Power emphasizes the benefits of documenting call results, especially needs identified, objections uncovered and how they were or might in the future be resolved, and next steps established. Techniques are covered for communicating and coordinating with resources in the bank to fulfill client commitments and advance the sale.

The key themes of the course are visualized in models that help participants remember and use them: Aiming for Financial Partnerships, Leveraging Call Power, Focusing Call Power, and Capturing Call Power. Supporting the course content and transfer of the skills and processes to the job are practical job aids and worksheets:

Communicating Benefits
Resolving Objections
Decision Center Mapping
Personal Information Profile
Relationship Plan
Call Plan
Call Report
Needs-Oriented Questioning Guide
Needs Oriented Questioning Worksheet
Skill Development Action Plan

Delivery Options

Maximizing Call Power—Wealth Management is a three-day workshop for which there is a small amount (three to four hours) of participant prework, plus prescribed postwork consisting of applying the skills and process to at least four actual clients or prospects and discussing the activities with one’s manager.

Results You Can Expect

Maximizing Call Power—Wealth Management helps relationship managers and other sales team members:

Use calling time to effectively accomplish relationship objectives and line-of-business priorities
Increase success ratios by identifying decision makers and maintaining personal information profiles
Examine clients’ business strategies to uncover unmet needs for financial services
Resolve objections smoothly and, when possible, convert them to needs the bank can meet
Propose targeted solutions to meet clients’ high-priority needs and close sales more successfully
Optimize the use of bank resources to search out and capture profitable business

Who Should Be Trained

Maximizing Call Power—Wealth Management is designed for experienced relationship managers, product specialists, sales team members, team leaders, and senior wealth management bankers who manage affluent client relationships or need to demonstrate and coach strong business development and cross-selling skills.

Prerequisites

The recommended prerequisite for Maximizing Call Power is Omega Performance’s Selling to Achieve Results or an equivalent. Participants should have a solid knowledge of the bank’s fee-based products, which can be provided by Omega Performance’s Building Fee Income or equivalent training.