Induction Training for Relationship Managers

Course Overview

The purpose of this training is to provide the new Relationship Managers with the skills required to perform in their new role with confidence by giving them the foundation in product and interpersonal skills to best address the new targeted segment.

The new Risk Managers are to be exposed through role plays to some realistic situations that they may encounter.

In order to be most cost effective we suggest the programme to last 4 days and to be conducted during normal working hours.

A web-based tool (Diametron) can be introduced to turn the training intervention more into a ongoing training process.  Also follow-up training and coaching can be offered.

Objectives:

After the course, participants will be able to:

• Know the main asset classes of investment.
• Understand the rationale of asset allocation.
• Understand the different investment rules for short-term trading and long-term investing.
• Allocate the proper asset mix depending on the clients risk profile.
• Advise systematically depending on the investment horizon of the client.
• Apply the Sales Process to identify the real client needs.
• Focus on network activation in order to increase the client portfolio.
• Build and maintain their personal energy and motivation.
• Use the experience gained in case studies and role plays to further boost their self confidence.

Course Content

Day 1:

Introduction:

• Setting the frame
• Session outline
• Introductions
• Expectations

Asset Classes: Asset Cashflow, Time Horizon and Risk-Return Profiles:

• Deposits
• Equities
• Bonds
• Commodities
• Real Estate
• Foreign Exchange
• Funds
• Structured Products

What investors should do with their money: The 3 Money Buckets

• Security
• Investment: Buy and hold versus trading
• Fun

Asset Allocation:

• Investment horizon
• Diversification effects on portfolios
• Correlation risks
• Portfolio Allocation
• Active versus passive money management

Criteria for long-term Investing:

• Purpose of investing
• Trading models
• Time horizon
• Indifference of entry and exit points
• Required liquidity
• Target gain
• Target loss
• Monitoring time

The Make-up of Successful Investors:

• Psychology
• Believes
• Research
• Trading model
• Discipline
• Tight Money Management
• Time
• Professional

Portfolio Management from an affluent investor’s perspective:

• Determining investors’ objectives
• Conducting sector analysis
• Asset allocation
• Portfolio selection techniques
• Different types of funds

Day 2:

The basis of successful sales and good communication:

• Mental state:  Your attitude affects the other person
• Rapport:  The basis of success is a feeling of communality
• Different ways of communicating: Using all the senses to make sense
• Content versus form: What you communicate versus how you communicate
• Perception versus interpretation: Reality and what we make of it
• Time and sequence:  Does it matter when I say something?
• The frame: The specific situation is important too

Role play:  Selling a Domestic Equity Fund

• A sales conversation
• Observer, banker and client
• Feedback

The 5-Step Sales Process:

• Rapport
• Ask open questions with a SPIN
• Find the client need
• Link the client need with your solution
• Close the deal

Mental state:

• Your current state
• Changing your state
• Managing your state
• Physical exercises to regain the desired mental state

Rapport:

• What is rapport?
• How do I build it up?
• How do I know when I have got it?
• How do I break it?

Sharpening our perception:

• Visual perception
• Auditory perception
• Kinaesthetic perception
• Exercise
• Perception versus interpretation

Role play:  Selling a Domestic Fixed Income Fund

• Establishing rapport
• Identifying client needs
• Feedback

Asking open questions with a SPIN

• Open versus closed questions
• Situation questions
• Problem questions
• Implication questions
• Need questions
• Exercise

Role play:  Selling an International Equity Fund

• Using SPIN questions to find a client need
• Explaining the solution
• Feedback

Day 3:

Mind Mapping:  A fast way to structure information

• How to make them
• When are they useful
• Advantages
• Software

Mind Mapping Exercises:

• Client Mapping
• Planning for referrals and network activation

Presenting the solution to the client:

• Using all our senses
• Language clues
• Eye accessing clues
• More non-verbal clues
• Applications for SPIN questions
• Applications for describing solutions
• Discussing the details versus the general purpose
• Exercise

Adding value to the client:

• To extract value you must add value
• How to add value to the client
• Trading strategies that make money

Role play:  Selling an International Fixed Income Fund

• Using SPIN questions to find a client need with all our senses
• Explaining the solution with all our senses
• Adding value
• Closing the deal
• Feedback

Closing the deal:

• The different psychological types of clients
• The decision making process
• How these two elements effect the way clients decide to buy
• Asking for the deal
• Asking for more business

Role play:  Creating an Asset Allocation Mix

• Getting clients to take a decision to act
• Closing the deal
• Asking for more business
• Feedback

Exercises on ‘Special Situations’ (time permitting):

• Dealing with difficult clients
• Presenting ‘bad news’
• Conflict management
• Getting paid

Summary:

• Course summary
• Debrief

Delivering this course in-house for you to a number of participants could be very cost effective. Please call us on 020 7387 4484 to discuss this further.

If you have any questions about this seminar please write to us at post@redcliffetraining.co.uk.