Here’s the good news : Opportunity Growth Better client relationships

Relationship Disclosure: products & services being offered & charges the client should expect to pay Transaction costs & any deferred costs (if applicable) Summary in dollar terms of compensation received by the dealer & costs incurred by the client Account Opening Time of Transaction Annually

Contributions: Opening value of cash & securities. Withdrawals from account for reporting period and since inception Capital: Net invested capital for the reporting period and since inception expressed in dollar terms. Include distributions from investments Returns: Percentage returns over one, three, five & 10 years Returns since their account was opened

Preparation Runway RequirementsImplementation Date Now* Regular quarterly account statements or monthly if requested Provide clients with 60 days notice of new or increased operating charges RDI must contain a complete description of operating and transaction charges July 15 th, * Pre-trade disclosure of all charges Enhanced content of trade confirmations Additional Benchmark Information July 15 th * More thorough account statements Position cost information July 15 th, * DSC information on trade confirmation Report summary on charges and other compensation Performance Reporting: money-weighted basis July 15 th, 2016 *All requirements are ongoing

DEVELOP BETTER CLIENT RELATIONSHIPS

Interpersonal Excellence Business Development Client Engagement Practice Management Technical Expertise Team & Self Development Advisor Success Framework Adapted from: Deloitte. The future of financial advice

Interpersonal Excellence Business Development Client Engagement Practice Management Technical Expertise Team & Self Development Advisor Success Framework Better Client Relationships Adapted from: Deloitte. The future of financial advice

Greater Trust Stronger Leadership Your Value Proposition Centres of Influence Deeper Discovery Nurturing Relationships Interpersonal Excellence Business Development Client Engagement Practice Management Technical Expertise Team & Self Development Advisor Success Framework Adapted from: Deloitte. The future of financial advice

Interpersonal Excellence Business Development Client Engagement Practice Management Technical Expertise Team & Self Development Advisor Success Framework Adapted from: Deloitte. The future of financial advice

The old conversations are not enough Deep discovery ≠ fact finding Goal of conversations : Talk Discover Connect Interpersonal Excellence

History and Values Goals Relationships Income & Assets Process Interests Source: Adapted from CEG Worldwide Interpersonal Excellence

Parents: careers & influence Employment history First memory of money Spending habits Defining moments Most important thing about money Time when most satisfied with financial position. Beliefs about money: how it’s earned and saved/spent Attitude towards money Most important relationship Relationships with parents/extended family Working relationships Community relationships Current financial advisor/plan Current lawyers, accountants,etc. Attitude towards advice Homes, cottages, etc. Bank Accounts Investments Insurance Liabilities Income Personal goals for right now Family goals Worries & concerns which could impact goals Best accomplishments to date Future spending habits Retirement & Inheritance planning History & Values Relationships Advisors Assets, Liabilities & Insurance Goals Interpersonal Excellence Client Source: Adapted from CEG Worldwide

Interpersonal Excellence

AttitudesLifestyles Opinions Your clients: Holistic Strategic Your service offering: Customized Interpersonal Excellence Source: CSI – What Affluent clients want

state Planning F I L E aterlife nsurance amily Wealth Planning Transition/Career Planning Pension CPP/OAS Premature Death Disability Critical Illness Asset Protection ChildrenParents Living Expenses Caregiving Will/POA Beneficiaries Business Succession Charities Education Start in life Tax Strategies Living Expenses Client Portfolio construction Investment management Advisor Interpersonal Excellence

state Planning F I L E aterlife nsurance amily Wealth Planning Transition/Career Planning Pension CPP/OAS Premature Death Disability Critical Illness Asset Protection ChildrenParents Living Expenses Caregiving Will/POA Beneficiaries Business Succession Charities Education Start in life Tax Strategies Living Expenses Towill Family Portfolio construction Investment management Advisor Interpersonal Excellence

Source: adapted from CEG Worldwide – Mastering Conversational Marketing Nurturing Develops relationship over time with multiple conversations Provides strategic solutions to maximize impact Qualitative Interpersonal Excellence

Healthy aging: fitness over 50 Retirement success: non-financial Life transitions Divorce Eldercare Sudden wealth Bereavement Second marriage Topic Ideas: Source: Taking on the Role of Lead Advisor – Wharton Interpersonal Excellence

Source: Manse Capital UK Interpersonal Excellence

Business Development Client Engagement Practice Management Technical Expertise Team & Self Development Advisor Success Framework Adapted from: Deloitte. The future of financial advice

Trust = Credibility + Reliability + Intimacy Self-Orientation Source: Trusted Advisor Associates 2007 Client Engagement

C RI S Trust = (worthiness) Source: Trusted Advisor Associates 2007 Client Engagement

Credibility Reliability Intimacy Incorporate client testimonials Explain your process Deliver on what you say you will do Go above and beyond Ask high value questions Make clients feel comfortable to share Trust = C+ R+ R + I+ I S Client Engagement Source: Trusted Advisor Associates 2007

Trust = C+ R+ R + I+ I S Focus on the client’s wellbeing Spend more time listening than talking Realize that perceptions matter Self- Orientation Client Engagement Source: Trusted Advisor Associates 2007

Motivate your clients to have a plan Demonstrate your expertise & knowledge Take concrete steps to implement their plan Have a positive vision for your clients’ future Client Engagement

Motivation + Implementation Expertise Vision + + = Client Engagement

Interpersonal Excellence Business Development Client Engagement Practice Management Technical Expertise Team & Self Development Advisor Success Framework Adapted from: Deloitte. The future of financial advice

CLIENT’S MONEY CLIENT’S LIFE Investments CLIENT’S MONEY CLIENT’S LIFE Financial Planning CLIENT’S MONEY CLIENT’S LIFE Wealth Planning Holistic Financial Advice Business Development

Factual information General advice Comprehensive advice Customized Wealth Planning Source: Deloitte. The future of financial advice Estate planning Tax mitigation Charitable giving Business succession planning Retirement planning Education planning Asset protection Wills and Power of Attorney Business Development

Things that matter to the client Value Proposition = Your Brand Things you do well Value Proposition Business Development

Speak their language Do your homework Look for less obvious COIs Show COIs how to refer you Keep top-of-mind Source: Advisor.ca – Closing the Gap Business Development

Consistent service delivery Access to specialized expertise Strong reputation & image Integrity & personal fit A long term relationship focused on mutual growth Business Development

Referrals from lawyers Referrals from accountants 29% 10% Referrals from clients Source: CEG Worldwide – All the right moves Business Development 57%

Greater Trust Stronger Leadership Your Value Proposition Centres of Influence Deeper Discovery Nurturing Relationships Interpersonal Excellence Business Development Client Engagement Practice Management Technical Expertise Team & Self Development Advisor Success Framework Adapted from: Deloitte. The future of financial advice

Conduct the Value Test on top clients Develop a plan Prepare your approach Be confident & positive

As a wealth advisor, I…YesNo 1.Spend sufficient time managing my client’s account and contact them regularly with relevant information. 2.Explain my process and why I am recommending a particular course of action. 3.Always make my client feel comfortable speaking about any issue that could potentially impact their planning needs. 4.Have a written service agreement in place spelling out what I am providing. 5.Conduct ongoing deep discovery and provide regular detailed reviews on plans and progress. 6.Provide a comprehensive financial plan customized to my client’s situation that will ensure they meet their financial goals. 7.Give full disclosure of my fees and how I am compensated. 8.Discuss tax mitigation, estate planning, education savings, charitable giving and business succession planning. 9.Deliver personal service and have a deep understanding of my client’s opinions, lifestyle and attitudes. 10.Discuss ongoing strategies to ensure my client will have enough money for their desired retirement lifestyle.

What it means for your clients How you are embracing it Why it’s better for both of you

What not to say… “I’m being legislated to tell you how much you pay me.” “The regulators say I have to provide more information to you than I used to.” Best phrases… “I wanted to speak to you about some interesting changes to enhance the level of service we provide.” “I’m excited to tell you about some adjustments we’ve made to improve your investment experience.”

Existing client relationship Without the conversation Advisor value not demonstrated

The conversation Existing client relationship New client relationship Increased openness Improved client confidence Deepened relationships Advisor value demonstrated

This is an opportunity for you to conduct deeper discovery with clients & nurture them to build loyalty

The impact will be a far greater level of openness & trust with clients leading to stronger, more valued relationships

Advisors who thrive in this new environment will continue to grow by honing their value proposition & developing productive COI relationships

Greater Trust Stronger Leadership Your Value Proposition Centres of Influence Deeper Discovery Nurturing Relationships Interpersonal Excellence Business Development Client Engagement Adapted from: Deloitte. The future of financial advice Life comes at us fast. Wealth Planning for LIFE Tips for Trust Equation Leadership workbook BRAND workbook

Advisor Need Solution Client RetentionRetaining clients and ensuring loyalty Conquering Client Fatigue Managing client fears and emotions in a difficult market Client Discovery Uncovering more client needs to provide relevant solutions Client Centric Selling Skills Understanding clients more deeply to deliver more value Branding Positioning your unique brand in a competitive market Mindful Investing Helping investors reduce mistakes that lead to bad decisions New Retirement Realities Preparing clients for retirement and reducing their anxiety Turning up the Heat Providing unique value to HNW clients

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