Asset Accumulation Series Webinar 3 of 7: Define Stages August 13, 2014

Agenda Overview of ActiFi and the 2014 Redtail Webinar Series Recap of Previous Session Business Development Process: Define Stages ActiFi Why it is important How to define requirements for Redtail on paper Redtail Translating requirements from paper to technology How to make it work on Redtail Q&A Preview the next Webinar in the Series All Rights Reserved to ActiFi

Getting the Most Out of Technology

What Percentage of Technology ROI is tied to Advisor Utilization? Answer: 100%

How much benefit does an advisor/planner get if they use their old processes on the new technology? Answer: NONE Get your processes “tech ready” “if 2 people at same firm”

WHY HOW ACTIFI: We are here to show you “HOW” to make this happen and not “WHY” you should make this happen. If you aren’t bought into how a CRM-centric practice is beneficial, there are about 100 presentations for you to watch to get you motivated! With that said, here is a quick figure provided by CEG Worldwide (show the chart that states that advisors that spend 60% of their time with clients as opposed to 30% earn 6x more revenue) The workshop that we are going through today is going to empower you to define how you are going to make this happen!! All Rights Reserved to ActiFi

Keys to Success Popular question from FAs: “What CRM should I buy?” Expect to show up Monday… 99% of time, it is NOT the CRMs fault

Keys to Success – ALWAYS REMEMBER Tech as good as used Used as good as process Process as good as executed People execute the process only if they understand it, agree to it, and believe in it

End in mind: Flash to the “big wow” of the CRM-centric practice – state that this is possible, but it doesn’t happen overnight. Reference Nietzel’s point that the trick to going from $1M to $3M is systems! We are going to get you ready for systems. For illustrative purposes only All Rights Reserved to ActiFi

Define Your Business Development Process Overview/Define Your Process Define Classifications and Sources Define Stages Identify Default Next Steps Create Pipeline Report Segment Your Client Base Analyze Your Client Base/Identify Ideal Opportunities

Define Your Classifications Classifications are the kinds of relationships you have with people from the time you first hear about them until they become a client. Examples include: Lead: Not acquainted, acquired contact info by referral or some other method Qualified Lead: Determined to be a good “fit” Prospect: Not yet a client, building a relationship Client: With an opportunity or life event on the horizon Center of Influence: Not necessarily a client, but a potential or existing referral source Affiliated Professional: Tax attorney, divorce attorney, insurance agent, etc. Write down your exact words and how you define them Lead: A person with whom you are not acquainted, whose contact information (phone number, name, email address) you have acquired by referral or some other method Prospect: A person who is not yet a client, but with whom you are building a relationship that could result in a formal client relationship Qualified Lead (or Prospect): someone with whom you are building a relationship AND you have qualified them on the basis of assets, income, etc. to be a good “fit”. Existing Client: one of your existing clients may have a life event coming up that you want to keep closer tabs on (e.g., an inheritance or a large distribution)   You may choose to use any number of Classifications for potential clients, there is no right or wrong way to do it, as long as you are consistent and understand what each term means. All Rights Reserved to ActiFi

Define Your Source Types and Names Source Types and Names help you identify where a prospect came from. Source Types are broader categories, while Source Names indicate which specific Source Type generated the prospect.   Write down your exact words and how you define them for your Source Types.   Examples of Source Types Examples of Source Names Marketing Campaign Direct Mail, Newsletter Center of Influence COI Name Affiliated Professional Attorney name, CPA name Personal Networking Rotary, Kids’ soccer Event Social Security Education seminar For example, if a prospect was a referral from a client (Tom Jones): the Source Type would be Referral, and the Source Name would be Tom Jones You don’t need to define Source Names at this point; you will end up using many Source Names over time, as you hold different types of events, work with different referral sources, and engage in different types of marketing campaigns. You may choose to use any number of Source Types; there is no right or wrong way to do it, as long as you are consistent and understand what each term means. Once you have defined Classifications and Sources you will be able to generate reports that show you, for example, all the clients obtained by a specific marketing campaign or event, or all clients obtained through affiliated professionals. This will allow you to be able to measure your return on investment and identify the best opportunities for you to grow your business. All Rights Reserved to ActiFi

Define the Stages in Your Pipeline Get contact info Introduction Discovery Proposal Commitment Onboard Stages define where you are in the sales process with each prospect Note that the Stages should align to the Classifications. For example, if you use Lead and Prospect Classifications, then a person would graduate from Lead to Prospect after they attain the second Stage listed above, Initial Meeting. Similarly, once a person signs the contract they move up from Prospect to Client. Write down your exact words and how you define them All Rights Reserved to ActiFi

For illustrative purposes only All Rights Reserved to ActiFi For illustrative purposes only

All Rights Reserved to ActiFi

Define the Processes for the Stages in Your Pipeline Get contact info Introduction Discovery Proposal Commitment Onboard Each Stage has a process outlining the steps involved, what materials are used or introduced, what role is responsible, and the due date. Depending on the advisor and the prospect, the time and number of steps involved to move to the next Stage may vary. Note that the Stages should align to the Classifications. For example, if you use Lead and Prospect Classifications, then a person would graduate from Lead to Prospect after they attain the second Stage listed above, Initial Meeting. Similarly, once a person signs the contract they move up from Prospect to Client. All Rights Reserved to ActiFi

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Defining a Process Activity What is the activity (action verb) Who does it (role, not name) When does it occur (in relation to the milestone) How long does it take What triggers the activity How do you know when the activity is completed Task Who When Trigger How do you know it’s done correctly All Rights Reserved

Process Definitions

Process Definitions

Sample Process: Intro Meeting Prepare Conduct Follow Up Task 1.1 Task 1.3 Task 2.1 Task 3.1 Task 3.3 Task 1.2 Task 2.2 Task 3.2

Client Service Specialist Role Definitions Senior Advisor Principal advisor and most senior relationship manager Para-planner or junior advisor that supports many of the day-to-day and preparation activities Planning Specialist Primarily administrative and task-oriented resource e.g, schedule meetings, maintain paperwork, etc. Client Service Specialist

Sample Process: Intro Meeting Prepare Conduct Follow Up Task 1.1 Task 2.1 Task 3.3 Senior Advisor Task 1.3 Task 3.1 Task 3.2 Planning Specialist Task 1.2 Task 2.2 Client Service Specialist

Post It Notes? Seems Awfully Low-Tech….. You have to know how Learning how to create processes is like learning arithmetic. You have to learn how to do the math before you can use a calculator. All Rights Reserved

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Managing Your Sales Process on Redtail Terminology and language really matter. Identify and define your terms and make sure everyone is in agreement. Balance optimism and realism in your opportunity forecasting. You can’t monitor what you don’t measure. Accurate data is important, but only to the extent that it serves management review and decision-making. All Rights Reserved to ActiFi

Managing Data on Redtail -- Tips Redtail is your data source. Excel is a tool used to manipulate the data, not to store it. Talk to Redtail about tips and tricks they have to manage your client data. This is not a one-time project. Things are always changing with your clients. You should review your data regularly to make sure your data remains accurate. All Rights Reserved to ActiFi

Next Time Wednesday, August 27th 4:00 Eastern/1:00 Pacific Overview/Define Your Process Define Classifications and Sources Define Stages Identify Default Next Steps Create Pipeline Report Segment Your Client Base Analyze Your Client Base/Identify Ideal Opportunities

Today’s presentation and slides will be made available by Redtail via the link below: http://help.redtailtechnology.com/entries/52534094-Redtail-Presents-ActiFi-s-Asset-Accumulation-Series- All Rights Reserved to ActiFi

Questions? Brian Kostick 763-746-1267 bkostick@actifi.com Rick Williamson 800-206-5030 x1067 rick@redtailtechnology.com