For producer or registered representatives use only. Not for use with clients. a day in the life using practice accelerator – workflow series Darla Wilton Vice President & Chief Administrative Officer

For producer or registered representatives use only. Not for use with clients. agenda Defining terms Benefits of a workflow system Components of a workflow system Benefits of a workflow system Demystifying the workflow system Next steps

For producer or registered representatives use only. Not for use with clients. More than 58% of respondents to a recent SEI survey who report having workflows in place, actually rely on memory, post-it notes, to-do lists, or traveling checklists to implements tasks; the rest rely on automatically triggered (16%) or manual tasks (26%) in their CRMs. How do you currently execute your workflows?

For producer or registered representatives use only. Not for use with clients. defining terms  Workflow: A series of steps that document and potentially automate important business processes – from client acquisition to service. Workflows encompass the steps involved in a task,, as well as the expected result or consequences. Automated workflows assign the task to the most efficient resource. The best workflows incorporate best practices and expected behaviors for those responsible for implementing them.

For producer or registered representatives use only. Not for use with clients. Workflows are an essential part of your firm’s day-to-day practice infrastructure as it creates repeatable processes Workflows can function as the heart of a financial practice’s service model, helping the firm deliver a more consistent service experience for every client with a disciplined approach Workflows are the bridge that brings people and systems together, potentially increasing the efficiency and effectiveness of both Workflows can build accountability by capitalizing on data and metrics to identify successes and gaps in workflow Workflows can enable the delivery of more comprehensive / sophisticated services benefits of a workflow system

For producer or registered representatives use only. Not for use with clients. Workflow = Higher level view of task Procedures = Detailed steps of a task that support the workflow Checklists and Templates = Materials that support the procedures components of a workflow system

For producer or registered representatives use only. Not for use with clients. demystifying the workflow system – phase I: organize Prospect Initial ContactDiscovery MeetingPresentation/Commitment Meeting Client Prepare Proposal/ Commitment Meeting Follow Up These “swim lanes” identify the person responsible for completing each of the sequenced steps. Advisor Jr. Advisor / Paraprofessional Client Service Associate Review & Approve Meeting Deliverables Conduct Commitment Meeting Send Thank You Letter to Prospect Send Thank You Letter to Referring Client if Applicable Unqualified Prospect Meeting Scheduled Follow Up on Missing Data (as needed) Develop Proposal & Mini Analysis Create Commitment Meeting Agenda Document Meeting Summary in CRM Fit for Prospect or Firm No Fit Fit Assign Follow Up Tasks Send Summary Letter Schedule Next Meeting (as needed) End Confirm Meeting Prepare Room

For producer or registered representatives use only. Not for use with clients. demystifying the workflow system – phase II: systematize Once you have a defined process that everyone is aligned with on “paper”, document and test in a live situation or simulate. If the process can be executed 80% of the time in a similar way without coming up with workarounds, then you are ready to automate in CRM. Sales Process System Best Practices Procedures Sales Process ActivitiesAdvisor Jr. Advisor/ Paraprofessional Client Service Associate Firm Resources / Support Materials Initial Contact 3.1 Hand-off from Client Acquisition system: Mail or any precall material to the prospect; set a time to make the first call for an appointment. X Advisor Marketing Materials 3.2Call for the appointment.XScript / Checklist 3.3 If the response is a "no": Keep the name? If so, for how long? If a referral, inform referral source. XS 3.4 If the response is "call back later": Schedule the future call. If a referral, inform referral source. XS 3.5 If "yes," schedule initial appointment with prospect. XS Record in calendar, CRM Appointment Confirmation 3.6 Determine what the prospect should receive prior to the initial meeting.X 3.7Send materials.XS 3.8 Appointment confirmation: Time, location, directions, material.XSScript / Checklist 3.9Coordinate any joint work calendars.XSCalendar, CRM Checklists and Templates that support the Procedures

For producer or registered representatives use only. Not for use with clients. demystifying the workflow system – phase III: automate Once systematized, your workflow is ready to be embedded into your CRM. When automated, the completion of one step triggers and schedules the next step, assigning it to the appropriate individual with the expected completion date.

For producer or registered representatives use only. Not for use with clients. demystifying the workflow system – phase IV: optimize Workflow constantly influenced by outside factors (i.e. new technology, change in support structure, client requests etc.) Review process and procedures annually Metrics on processes should be captured and analyzed when making decisions on modifying existing processes This is the phase that every business should strive to achieve; it is a disciplined approach, yet very rewarding

For producer or registered representatives use only. Not for use with clients. practice workflow system examples Client Acquisition System Client Management System Sales Process System Case Development System Business Operations System Time Management System Communications System Marketing process Referral process Mail campaigns Seminars and public presentations Key client acquisition statistics Client onboarding process Client segmentation Client contact protocols Client review process Client information process Client events Client service requests Client management statistics Initial contact Preparation Initial interview Discovery meeting Presentation / commitment meeting Sales statistics Research and analysis process Financial planning process Draft of case and packaging Connect to sales process system Client billing Portfolio reporting Data management Data aggregation Portfolio rebalancing Business reporting Telephone calls Calendar Delegation Model week CRM database integration Time management statistics Staff Key non clients Client experience Centers of influence Communication tools

For producer or registered representatives use only. Not for use with clients. next steps A ready-to-use Practice Accelerator Resource Library that will include documented workflows, procedures, checklists, and other resources in development Workflows will be aligned with CRM systems: Redtail, Advisor’s Assistant, and SmartOffice Contact the AIC Sales Team at , option 3