Right-Sizing Your Broker Base Presented by: Kevin Cott CEO of Qualified Financial Services Toronto, Ontario Share the tools
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Share the tools
Annual Planning Share the tools 4 days Entire Management Team Review all aspects of the business Quantify Advisor relationships Establish plan for the following year Share the tools
Issues Associated With Non-Productive Advisors And Toxic Relationships Time Knowledge Meetings Lunches Resources “Don’t let one bad apple spoil the whole bunch” Share the tools
Spread Sheet Share the tools 1 Smith 269,116.23 2 Johnson 266,629.54 3 Williams 255,608.06 4 Jones 250,857.12 5 Brown 246,733.05 6 Davis 141,759.97 7 Miller 239,272.56 8 Wilson 236,785.32 9 Moore 232,567.85 10 Taylor 231,811.15 TOTAL 2,371,140.85 Anderson 199,324.45 Thomas 186.837.23 Jackson 161,863.74 White 159,376.65 Harris 144,402.68 Martin 133,652.76 Thompson 111,915.35 Garcia 109,428.69 Martinez 106,941.54 Robinson 105,326.72 1,232,232.58 Share the tools
Who is controlling your business? Make sure it's you! The Decision Itself Who is controlling your business? Make sure it's you! 2009 Kick Off Meeting “We’re serious about this business!” Share the tools
“It’s Not You… It’s Us” Share the tools Dear Martha, Qualified Financial Services Relationship and Support We are writing to you today to inform you of changes that will take place with respect to our working relationship. We have appreciated and valued the work we have done together. However, it is apparent that your activities have taken you in a different direction. Either you no longer have active contracts with Qualified Financial Services, you have not submitted any new business in the past 12 months, you no longer value our relationship, or our relationship is not impacting your business in a positive way….. For those who currently hold active contracts with us, we will be terminating all contracts with you effective March 1, 2011, and we highly recommend that you seek other arrangements as soon as possible….. We want to take this opportunity to thank you once again for your business and for the working relationship that we have enjoyed. If, at any time in the future, you wish to re-establish a serious working relationship with Qualified Financial Services, please feel free to call us. We would be pleased to explore future opportunities with you…….. Share the tools
“Peter’s Story”– Confirmation Of Our Decision Share the tools
Where We Are Today– Why QFS Is A Better MGA Because Of It The decision resulted in 150 terminations in 2 groups of 75. The remaining Advisors all understood their position with QFS. No staff were deleted, providing better support for those remaining. New resources were added, making the relationship that much more valuable to both parties. In 2009, we enjoyed our most productive year to date. (In spite of economic condition) ….And in the year 2010 it was even better!! Our 31st ranked advisor did the same production as our 10th ranked advisor did in 2009 Share the tools
Share the tools
Share the tools