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Wealth Management Communications
Transcript of Wealth Management Communications
If we had asked them what they wanted, they would have said faster horses.
Monday, August 3, 2015
Vol XCIII, No. 312
THE DAWN OF PLAYBOOKS
Wealth Management Communications
RETAIL DEVELOPMENT TEAM UPDATE
Editor ALAN SATTERLEE
NEW EVP ONBOARDING
ASSET MAP TRAINING
Continue with enhanced and improved candidate search process (implemented with Wisconsin, Alabama and Indianapolis); maintain but shrink on-site consulting time; maintain monthly New EVP call sessions. Continue to incorporate others.
UPDATE AND MAINTAIN TOOLS
Consulting & Analytics & Coaching & Training & Synthesized Best Practices
Partners with Jim Mellin, the Regional Presidents and Gregg Manto; Ted Beal Jr. and Jeff Moore
Challenging the model, institutionalize success, drive speed - the big objectives
AXA Advisors (and our) Key Priorities: Management Development +28; 750 hires; Advisor development as measured by centurion (+1 per branch); Diversity of field / Manager force
This remains a critical program and has been highly successful (Darren Bush, Jason Dummert, Steve Howell, Jeremy Martin, Nathan Moore, Chris Mullin, Colin McKenna, Yong Park and Eleonora Anastasia-Sciopu are all previous Elite Leaders promoted to EVP). Partner with Jim Mellin and the RPs to lead the sessions.
This is low hanging fruit for AXA as external DMs hired to AXA historically have a (very) poor track record of retention and success. However, we have had many attractive candidates come to AXA in 2014 and 2015 with more in the works. We also have significantly re-vamped the business planning process prior to an offer being made.
We are challenging the model of how training is delivered, how best practices are institutionalized and the process to find key tools, systems and insights. In some ways, the playbooks will make going to eDox somewhat obsolete. We need to build plans for keeping these current (with links working). We need to also drive a connection with the AXA locker.
RE-BUILD AAVU / LEARNING HOMEPAGE
This is a critical initiative in 2015. Our training roll-out strategy is threefold:
1) self study via the Asset Map Playbook
2) drive training through the DMs - this is not a tool so much as a sales process to be reinforced via joint work
3) implement virtual-based training
We need to define the purpose: partly we believe it will be to maintain playbooks, video best practices and continue with on-line learning. AAAVU is dated and the Learning page on AXA.com has been essentially the same for years. Additionally, our plan is to decommission NAIC from AAVU (this is TBD) and to decommission Career Paths.
CAPTURE MORE AXA VIDEO-BEST PRACTICES
This has been a big area of suggested focus by the NAF and EPG steering committees. Mike Lordi's team will capture best practices via video while in branches. We will capture best practices in Region Meetings (Kyle Sims' 'From Backpacks to Briefcases' just filmed). We have 100 videos on the Media Library that likely few know about- they are poorly organized and hardly anyone currently views them. We need to better organize, better integrate them on training sites and materials and better leverage.
AXA has a fantastic library of core tools:
-Learn to Earn
-Client College I
-Client College II
-Winning Referrals &
-Success & Income Calculator
-Life and Annuity Sales Track
-Learn to Lead
However, some need to be updated- most notably Learn to Earn which was built 6-7 years ago. Learn to Earn needs to have Asset Map included and we need to mix in parts of the video library.
MAINTAIN AND ADJUST AAVU E-LEARNING
AAVU is a critical aspect to AXA operations- impacting training, Compliance, legal audits and feeds to commissions. There are over 140 AAVU courses (e.g. PEP, Firm Element, Product, Broker Dealer Credentialing, Financial Planning Credentialing, Wharton CE) and over the last 12 months there have been 128,000 courses completed within AXA Advisors. However, due to the volume of work relative to resources we have 20+ courses in the queue and many existing courses need to be refreshed (and some are out of Compliance). We would like to find a temp resource to help us get caught up. We will need to change what courses we say yes to, and we need to change the way in which business areas request courses and their contribution to the content.