In its commitment to supporting advisers and helping them navigate the challenges of conducting business in the current market environment, BMO Global Asset Management (BMO GAM) today launched Accelerator Pathways, part of its Adviser Edge platform.
The initiative is designed to help advisers develop and hone the soft skills that are crucial to growing and maintaining their business. Split across three stages – finding, winning and managing clients – this CPD content provides insights and actions that can be implemented in the short-term, as well as providing longer-term strategic concepts to help develop an adviser’s business.
BMO Adviser Edge already provides advisers with access to structured CPD content and professional support focussed on financial planning, investment and practice management.
In June 2021, BMO GAM conducted a short survey amongst clients to determine the technical training requirements of advisers, as well as understanding how advisers currently attract new clients.
The responses highlighted the need for guidance to support advisers with relationship management, sales and influencing skills and marketing promotion.
In addition, there was also calls for a continuation of the training provided by the Adviser Edge team, including investment related matters, income, inheritance and capital gains tax, estate planning and trusts.
Interestingly, whilst the survey revealed that word of mouth remains the most effective method of attracting new clients rather than the use of lead generation services or pay per click online advertising, feedback also indicates that support with understanding how to work with professional introducers, website improvements and social media would also be beneficial.
It is apparent that building a steady stream of leads, be they new clients or growing relationships with existing clients, is a key area of business activity. As such, a module on this topic has been included in Accelerator Pathways which draws together ideas, techniques and tips to help advisers effectively market their services, without breaking the bank.
Having reviewed the responses to the survey, additional modules will be introduced to provide advisers with tips around attracting and converting more prospects into profitable clients.
At launch the content includes articles such as ‘the role of a marketing strategy’, ‘Identifying and finding your target audience through segmentation’, ‘Building client personas’ and ‘Why content matters’.
Mark Parry, Director, Head of Strategic and Technical Sales at BMO Global Asset Management, comments:
“Through extending the BMO Adviser Edge programme and launching Accelerator Pathways, we are responding to adviser demand for ‘soft skills’ development. The dynamically changing environment requires support for practice management, financial planning and investment related content. However, ‘people’ are at the heart of all intermediary businesses. By incorporating specific soft-skills support from industry experts, we are seeking to help advisers meet the unique needs of their clients, embrace change and successfully grow their business. Having tested the content with a number of intermediary firms, we are confident this will be a very welcome addition to the support we offer through Adviser Edge.”
