Asset Accumulation Series
Webinar 6 of 7: Segment Your Client Base
September 24, 2014
Agenda
• Overview of ActiFi and the 2014 Redtail Webinar Series
• Recap of Previous Session
• Business Development Process: Segment Your Client Base
•
•
ActiFi
•
Why it is important
•
How to define requirements for Redtail on paper
Redtail
•
Translating requirements from paper to technology
•
How to make it work on Redtail
• Q&A
• Preview the next Webinar in the Series
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2
Getting the Most Out of Technology
What Percentage of Technology
ROI is tied to Advisor Utilization?
Answer: 100%
How much benefit does an
advisor/planner get if they use
their old processes on the new
technology?
Answer: NONE
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6
Keys to Success
Keys to Success – ALWAYS REMEMBER
For illustrative
purposes only
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9
Define Your Business Development
Process
Overview/Define
Your Process
Define
Classifications
and Sources
Define Stages
Identify Default
Next Steps
Create Pipeline
Report
Segment Your
Client Base
Analyze Your
Client
Base/Identify
Ideal
Opportunities
Define Your Classifications
Classifications are the kinds of relationships you have with people
from the time you first hear about them until they become a client.
Examples include:
•
Lead: Not acquainted, acquired contact info by referral or some other method
•
Qualified Lead: Determined to be a good “fit”
•
Prospect: Not yet a client, building a relationship
•
Client: With an opportunity or life event on the horizon
•
Center of Influence: Not necessarily a client, but a potential or existing referral source
•
Affiliated Professional: Tax attorney, divorce attorney, insurance agent, etc.
Write down your exact words and how you define them
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11
Define Your Source Types and Names
Source Types and Names help you identify where a prospect came from.
Source Types are broader categories, while Source Names indicate which
specific Source Type generated the prospect.
Examples of Source Types
Examples of Source Names
Marketing Campaign
Direct Mail, Newsletter
Center of Influence
COI Name
Affiliated Professional
Attorney name, CPA name
Personal Networking
Rotary, Kids’ soccer
Event
Social Security Education seminar
Write down your exact words and how you define them for your Source Types.
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12
Define the Stages in Your Pipeline
Onboard
Commitment
Proposal
Discovery
Introduction
Get contact
info
Stages define where you are in the
sales process with each prospect
Write down your exact words and how you define them
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13
Define the Processes for the Stages in Your Pipeline
Onboard
Commitment
Proposal
Discovery
Introduction
Get contact
info
Each Stage has a process outlining the
steps involved, what materials are used
or introduced, what role is responsible,
and the due date.
Depending on the advisor and the
prospect, the time and number of steps
involved to move to the next Stage may
vary.
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14
Business Development – The Golden Rule
Always, ALWAYS, ALWAYS,
ALWAYS have a time specific
NEXT STEP attached to every
opportunity!
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15
Determine Your Pipeline Report Format
You need a tool that you can review regularly, that shows the next steps due in the
next two weeks for each name in your pipeline.
For illustrative purposes only
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16
Determine Your Pipeline Report Format
For illustrative purposes only
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17
Segmenting Your Clients – Qualitative Criteria
In no particular order:
• How big (AUM, Revenue, etc) is the client?
• What AUM/Revenue/Referral/COI potential does the client have?
• How profitable is the client?
• Has the client referred business?
• Is the client willing to refer business?
• Is the client a center of influence (COI)?
• Is the client a business owner?
• Is the client part of my ideal target market?
• Is the client reasonable?
• Do I like working with the client?
• On a scale of 1-10, how close is the client to my picture of a "perfect" client?
Of course, the above criteria can be individual weighted for the purpose of formulating a scoring system.
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18
Segmenting Your Clients
For illustrative purposes only
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19
Rate Your Clients on an A-D Scale
For illustrative purposes only
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20
Managing your Database Lists
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21
Managing Your Sales Process on Redtail

Terminology and language really matter. Identify and define your terms and
make sure everyone is in agreement.

Balance optimism and realism in your opportunity forecasting.

You can’t monitor what you don’t measure. Accurate data is important, but
only to the extent that it serves management review and decision-making.
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22
Managing Data on Redtail -- Tips

Redtail is your data source. Excel is a tool used to manipulate the data, not
to store it.

Talk to Redtail about tips and tricks they have to manage your client data.

This is not a one-time project. Things are always changing with your clients.
You should review your data regularly to make sure your data remains
accurate.
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23
Next Time
Wednesday, October 8th
4:00 Eastern/1:00 Pacific
Overview/Define
Your Process
Define
Classifications
and Sources
Define Stages
Identify Default
Next Steps
Create Pipeline
Report
Segment Your
Client Base
Analyze Your
Client
Base/Identify
Ideal
Opportunities
Today’s presentation and slides (along with
all webinars in the Series) will be made
available by Redtail via email to the link
below:
http://help.redtailtechnology.com/entries/52534094-Redtail-Presents-ActiFi-s-Asset-Accumulation-Series-
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25
Questions?
Brian Kostick
763-746-1267
bkostick@actifi.com
Rick Williamson
800-206-5030 x1067
rick@redtailtechnology.com