The principle of ‘Know Your Customer’ underpins an IFA’s sales process. In just the same way, an Account Manager needs to have a comprehensive knowledge and understanding of an IFA firm and the RIs in it if they are to fulfil their business development role.
How can your Account Manager add value if they do not truly know what they are adding value to?
Typical Issues
Ideal Situation
No data collection
Electronic and paper based IFA fact find
Lack of IFA/RI information
Detailed account and RI information
Inconsistency of data collection
Defined process for ongoing data collection
Inability to effectively use data
Ability to interrogate data for sales opportunities
Basic information gathering and analysis skills
Account Manager equipped as a business consultant
Momentab2b provide framework support and training, which includes:
A comprehensive paper based IFA fact find that covers the IFA account as a whole, registered RI’s within it, and their product/fund selection criteria
Electronic versions of the IFA fact find that enables Account Managers to interrogate the data to identify accounts or RIs within certain criteria
We will work in consultation with you to tailor processes and training to meet the exact requirements of your business.
