Client

The client is one of the largest retail Financial Services Advisory firms in the world and is held under the umbrella of the largest bank.

Challenge

The client was challenged after a merger to create a culture that was both service and sales oriented. The leader of the Advisory Business group had a goal to not only build the baseline of high net-worth clients, but also the need to establish better retention numbers. During a turbulent time in the industry, with high degrees of compliance changes, and economic stress, this effort was even more difficult to accomplish.

Solution

AMS understood the challenge and was able to promote the “gap” as an opportunity to not only meet the stated objectives of the training, but also to help the firm bring together two varied cultural norms. The training program was structured to promote the core skills of Solution Selling, and tie back to the concepts of collaboration, innovation, and strategic alignment. The training program was customized to capture process and technology, with a solid slant toward Change Management and core skills development. Three cohorts were involved, and each was delivered with a blended experience that incorporated onsite training, digital learning supplements, and follow on coaching.

AMS meticulously designed a robust plan for knowledge transfer and sustainable skills development:

1. Identifying the Opportunity in the Gap:

   • Cultural Integration: AMS recognized that the gap between existing practices and desired outcomes was not merely a challenge but an opportunity. It could bridge two distinct cultural norms within the organization.
   • Stated Objectives: While meeting the training objectives was crucial, AMS saw this as a chance to foster collaboration and alignment across diverse teams.

2. Structured Training Program:

   • Core Skills Emphasis: The training program focused on Solution Selling, a fundamental skillset. Participants learned how to identify client needs, propose tailored solutions, and drive value.
   • Holistic Approach: Beyond sales techniques, the program tied back to broader concepts:
     • Collaboration: Participants understood the power of cross-functional teamwork and knowledge sharing.
     • Innovation: Creativity and adaptability were woven into the training fabric.
     • Strategic Alignment: Solutions aligned with organizational goals.

3. Customization for Process and Technology:

   • Process Integration: AMS ensured that the training captured both process improvements and technology adoption. Participants learned how to navigate streamlined workflows.
   • Change Management Focus: Change is inherent in any transformation. AMS emphasized change management principles, preparing participants for shifts in mindset and practice.

4. Three Cohorts, Blended Experience:

   • Cohort Approach: AMS divided participants into three cohorts based on roles, ensuring relevance. Sales, support, and leadership each had tailored content.
   • Blended Learning: The experience blended:
     • Onsite Training: Face-to-face sessions for hands-on learning.
     • Digital Supplements: Online modules, videos, and interactive content.
     • Follow-On Coaching: Ongoing support to reinforce learning and address real-world challenges.

5. Sustainability and Continuous Improvement:

   • Skills Transfer: AMS didn’t stop at training; they facilitated knowledge transfer. Participants applied skills immediately, ensuring sustainability.
   • Feedback Loop: Regular feedback loops allowed AMS to fine-tune the program, adapting to evolving needs.

Benefits

In a six month follow up, we learned that retention had been reduced significantly across the merged sales teams and the core client base was showing a shift toward High Net-Worth vs. open market uptake. This proved that the solution was enabling a partnership mindset and more critically, the clients were recognizing elongated value in the relationships. In summary, AMS’s holistic, customized, and blended approach transformed the gap into an opportunity, fostering skills, collaboration, and cultural alignment.