In response to increased regulatory pressure and new competitive threats in Wealth Management, the client recognised the need for their Desk Heads to evolve into pure “sales leaders” with no client book, rather than “producer-managers”. The change initiative was designed to bring Desk Heads up to speed effectively in the new role and support them in acting consistently in three key areas:
The key objectives of the initiative were to ensure Desk Heads:
Alpha consulted across all major stakeholder groups and designed a detailed case study that mirrored the organisation’s challenges at desk level. The case study framework supported a 9 month, multi-touch learning journey that replicated the pace and ambiguity of life on the desk.
With the right environment constructed, credibility was demonstrated and the facilitation team were able to start to address the changes to skills, behaviours and mind-set that were required to effect this business transformation.
The programme incorporated:
The extended case study was built out complete with data on Relationship Managers, clients, Assets under Management (AUM), Net New Revenue (NNR) and Asset Allocation profiles. This detail, along with our replication of the firm’s systems and processes, gave the development initiative the required legitimacy across the target population.
The creation of this rich environment allowed us to: