BISA Industry TrendWatch

This new podcast episode is derived from the "Breaking News" BISA webinar conducted last week in response to current market conditions.Join John Olerio, BISA President and Head of Wealth Management at Lighthouse CU, Kevin McCarthy, SVP at Synovus Securities, and Anthony Saglimbene, Chief Market Strategist at Ameriprise for a timely 30-minute discussion on how you should be working with your clients during extreme market volatility.Topics include:Coaching advisors to handle client anxiety as well as their own anxiety.Managing proactive communication.Building trustHelping clients stay the course.The importance of financial planningLeveraging the learning moment for advisors who don't do enough financial planning.

In this episode we discuss the journey from transactional to advice-based and the related cultural change including topics like the client engagement process, engineering the transition, related hiring practices, nurturing rookies, and related mistakes to avoid.Our guests are:Pete Schmidt of BMO Financial ServicesBrian Venn of California Credit Union

In this discussion with Robert Corsarie, CEO of Fifth Third Securities, and Terry Powell, Investment Program Manager of Randolph Brooks FCU, we discuss differentiation – a critical component of a successful practice. We cover the following:How to create differentiation.How top advisors execute their differentiation strategies.Leveraging niches.Becoming subject matter experts within those niches.

In this episode we discuss the following:What effective community building means for a financial institution.How community building helps achieve business objectives.The types of organizations should be targeted for community building.Becoming subject matter experts in the community.Community building success stories.Our guests for the episode are:John Olerio from Lighthouse FCU (and incoming BISA President)Tom Hufton from The State Bank

42In this episode titled “Second Story Advisor Success” we discuss the qualities that make a good book-based advisor, increasing wallet share, AUM, and client retention. In addition we discuss how these second story advisors can be effective mentors.Our guests are Jane Ellen Porter from Wilmington Advisors at M&T, and Kevin McCarthy from Synovus Financial Services. And our special guest co-host is Chris Melton from Ameriprise.

In this episode titled “Leveraging Data for Growth”, with Brian Venn from California Credit Union and Chris Melton from Ameriprise, we discuss the following: Taking an active approach to data miningLeveraging data across channelsUsing data to identify advisory and planning prospectsUsing data to right-size advisor books

Compelling new podcast episode featuring Kimberly Cole and Mike Wyatt of Ameriprise where we discuss the following:Developing relationships with COIs inside and outside the institution. The best COIs to work with. How to build trust with COIs. Fostering two-way referrals. Community building with COIs

In this episode we discuss working effectively as a team cross-departmentally to better and more seamlessly service a broader array of client needs, and consequently manage more assets. We cover subjects that include embracing the value propositions of other departments, collaborative discovery meetings, and supercharging referral flow.Our guest is Merrill Stewart of Allegacy Federal Credit Union who has done a very impressive job of integrating wealth management into the institution and unifying the organization.

In this episode we will discuss the following:Successful advisor mentorship structuresRookie advisor career pathingSuccession planning mentorshipsMentorship mistakes to avoidOur guests for this discussion are…Solomon Schmidt – National Executive of Wealth – Key Investment ServicesMatthew Griffin - Managing Director – Steward Concepts (Family Trust CU)Jason Driver – Financial Advisor – Steward Concepts (Family Trust CU)Join us for valuable insights on implementing a successful mentorship program!

For this episode entitled “The State of Advisor Training” we discuss current tactics and challenges related to advisor training as our channel evolves from a transactional-based model to more of a relationship-based wealth management model. Part of that equation is also the growing prominence of technology as an enabler in that regard, and how those dynamics affect training strategies. Join us as our panelists, David Chan from Citibank, and Joshua Hinsch from Ameriprise provide insights.

In this episode we discuss leveraging technology to enhance the client experience, engender trust, optimize client discovery, identify next best actions, and strike a balance between high-tech and high-touch. Our guests include Jonathan Allen, President of Wescom Financial Services, and Scott B. Wilkins, VP of Ameriprise's Advisor Business Development Group

In this episode we discuss the evolution of client expectations, optimizing the client experience via technology, leveraging client data, varying generational preferences, and contributing to financial wellness. Our panelists are the following:Jane-ellen Porter – Wilmington Advisors @ M&TErin Candler - Wilmington Advisors @ M&TTerry Powell – Randolph Brooks Federal Credit UnionWes Garner - Randolph Brooks Federal Credit UnionOur special co-moderator for this episode is Chris Melton from Ameriprise Financial.We would like to thank Ameriprise Financial for making this podcast series possible.

In part two of this episode we will continue our discussion about the importance of servicing protection needs based on our believe that to be a true Trusted Advisor you must not only help your clients manage their assets, but also make sure they protect their assets. And insurance is a critical part of a de-commoditized relationship containing trust, longevity, majority wallet share, and hence… profitability.Our guests once again are…Jonathan Allen – Wescom Financial ServicesRyan Hughbanks – AmeripriseDavid Jabczenski – Wescom Financial ServicesLisa Young – Rise Private Wealth Management

This episode was recorded in September, which is life insurance awareness month. As many of our listeners know we passionately believe that to be a true Trusted Advisor you must not only help your clients manage their assets, but also make sure they protect their assets. And life insurance is a critical part of a de-commoditized relationship containing trust, longevity, majority wallet share, and hence… profitability. So life insurance awareness month should be perpetual, and that is the core of today's discussion with the following guests:Jonathan Allen – Wescom Financial ServicesRyan Hughbanks – AmeripriseDavid Jabczenski – Wescom Financial ServicesLisa Young – Rise Private Wealth Management

This episode is a continuation of last month's episode on advisor recruiting. We are joined by Bob Corsarie from Fifth Third Bank, and Iain Balfour from Ameriprise to discuss topics including recruiting the next generation of financial advisors, female advisors, recruiting internally, leveraging internships, mentorships, social media, and technology. As well as the best sources for candidates.

For this episode we are joined by Jim Fujinaga of Hancock Whitney, and Iain Balfour of Ameriprise to discuss the ever-increasing advisor recruiting challenges, how to overcome them, the related financial institution value proposition, home growing talent, and succession planning.

For this episode we discuss “One Wealth” with Rebecca Robinson from Zions, and Erik Pinter from Old National. We ask them about the inherent challenges of integrating all departments related to wealth management into a seamless and integrated offering for the appropriate clients of our institutions, and explore how to make progress towards that goal. We also discuss what "One Wealth" should look like from the perspective of the client.

This month we discuss how to foster cross-departmental relationships to provide integrated wealth management, thoughts on how AI will affect our industry, and how to get better at helping clients protect their assets. Our guests are Don Clark from Wintrust, and Terry Powell from Randolph Brooks.

For this episode we will discuss managing the program and clients through the current banking crisis as well as the interest rate environment. We also continue our exploration of the evolution from “Investment Services” to “Wealth Management”, the value of a Wealth Management program to the institution, how to leverage financial planning, and the importance of helping clients protect their assets.

For this episode with Kevin McCarthy from Synovus and Chris Melton from Ameriprise we discuss strategic initiatives that moved the needle in 2022 and the follow through that is planned for 2023. We will also continue our exploration of the evolution from “Investment Services” to “Wealth Management”. And make sure to listen to the end where we make our Super Bowl predictions!

For this episode we dig deeper into a subject we've started exploring in previous episodes, and that is Wealth Management. Specifically, what is the difference between Investment Services and Wealth Management. How does Trust and Private Banking figure into the equation? How does compensation factor in? How is teamwork optimized across departmental lines? And Rhomes Aur, CEO at First Horizon Advisors, is the perfect guest to explore this with. Rhomes shares valuable insights and the lessons he's learned over his 35 years with First Horizon Bank.

For this episode we focus on the most effective ways to gather assets”. Our primary objective as “Trusted Advisors” should be to manage and protect the majority of our client's assets. That is exactly what being a Trusted Advisor is all about. We will explore how to do this… the discovery process, integration of wealth management into the overall organization, the importance of helping clients protect their assets, etc.

This month we will continue a topic we initiated last month where we explored the concept of being a “Trusted Advisor”. In our opinion all advisors should strive to be Trusted Advisors. But how do you know when you've accomplished that? How do you know when you've “arrived”? We explore these topics and others including: What does it mean to be a Trusted Advisor? What do you have to do to become a trusted advisor? What does it take for clients to give you 100% of their assets to manage? How many clients can a Trusted Advisor serve? What are the benefits of being a Trusted Advisor inside a bank or credit union? Our guests include: Matt Griffin – Financial Advisor/Manager director- Steward Concepts (Matt manages 100% of almost all his clients investable assets.) Rob Cosentino – Financial Advisor – Webster Investments Dan Pellegrino – Sales Manager Webster Investments

For this episode, in addition to trends in our channel, we will discuss what it means to be a Trusted Advisor within the evolving landscape of Wealth Management. Our guests are a successful advisor and his manager from Regions Investment Services. Topics include: Engendering trust to attract and retain assets Differentiating your process Managing through volatility Segmentation Leveraging staff

In addition to discussing how to thrive in a volatile market we follow up on the discussion from our last episode - our channel's transition from investment services to wealth management. Is it real or window dressing? What are the emerging best-practices? Topics include: What is Wealth Management? Best-practices during market volatility Advisor tiering Teamwork with Private Banking and Trust Protecting client assets We also talk about our favorite entertainment, travel, and wine apps!

From investment management to wealth management, basic investment guidance to specialty investment guidance (like ESG), commissions to fees, things are changing in our channel. Join Jacinda Norvell, Senior Managing Director at Truist Wealth, and Cheryl Sutter, a leading advisor at American National Bank of Texas, as we discuss where things are headed.

What's the difference between "Investment Services" and "Wealth Management", and how do we transition from one to the other? That's what we discuss in this episode of BISA TrendWatch. Our panelists are Scott Ford from US Bancorp and Josh Hinsch from Ameriprise. In addition to defining true Wealth Management, we discuss advisor tiering, a team-based approach, and attracting top talent. We also discuss the strangest food we've ever eaten :-)

Our panelists for this episode include an executive who manages one of the more successful programs in our channel, and an industry veteran known for his work with the entirety of a financial institution to assure alignment of critical strategic initiatives across the framework of an organization. Discussion topics include: Client communications related to economic uncertainty. The biggest challenges of this year. Standardizing Service Level Agreements. Strategic initiatives that are working. We also discuss who the most famous person is our panelists ever met!

In this special episode honoring Women's History Month we feature four successful women in our channel who have each made unique contributions to making our industry a better place to work for women aspiring to be financial service professionals. Our discussion focuses on what it takes to be a female leader in our channel, and what advice our guests have for women who may be just starting out in our industry. Topics include: Making our channel more attractive to women Advice for women just starting out in our industry Thoughts on effectively recruiting women Gratifying "women's power" moments We also discuss things that the panelist's work colleagues don't know about them :-)

The topic for this episode is “Growth Beyond the Branches” and we use BISA's recent research report of the same name as a basis for the discussion. Our guests are Mike Miroballi of Huntington, and Brian Surovik of Ameriprise. Topic covered include: The evolving role of the branch The future of the branch-based advisor Branches as “community centers” Countering less referrals with higher quality referrals Leveraging the digital experience The Remote Advisor profit center Second Story growth Oh boy, we also make Super Bowl predictions…

For this episode we're joined by executives leading the charge in three third-party broker dealers that serve our channel: Chris Melton of Ameriprise, Jim Norwood of Securities America, and Dan O'Brien of LPL. We discuss leveraging lessons learned in 2021 to get off to a fast start in 2022. Topics include: New measurements of success Reinvention of branches Fee-for-service Providing choice - the RIA factor Attracting the NextGens We also talk about the best concerts we saw in 2021 :-) Come join us!

In this interview with David Zimmerman, one of the top performing program managers in our channel, we discuss where the puck is going in the wealth management space and what we must do to be relevant five years from now. We are also joined by Josh Hinsch who will tell us what the top performing programs at Ameriprise are doing to increase their success metrics.

For this episode we initiate a focus on what it takes to be a top performing program. For the next series of BISA episodes we will interview program managers from top performing programs in our benchmarking research. This month we interviewed David Biliter from First Citizens, a program that holds the #1 position for household revenue penetration. We were also joined by Matt Barhorst of Ameriprise, one of the top BDs in the nation..  Topics include: Creating a culture of advice Removing friction from the process Creating a career path towards Second Story Advisors Cross-departmental cooperation Earning the trust of lenders Getting past the “$300K GDC Wall” Creating a fully functional remote advisor center Having client discussions about the Protection Need

Tim Sease, the 26 year veteran of South State Bank, and Sam Nasser, a 17 year veteran of the third-party BD world currently with Ameriprise, join us for a discussion on revenue drivers net of market performance, differentiation, leveraging planning in a low interest rate environment, covering the protection need, meeting our real competition head-on, and the importance of culture.

Chris Melton of Ameriprise and Tim Killgoar of Raymond James discuss how to continue 2021's gravity-defying momentum, best-practice differentiators, competing with other channels, and recruiting.

This month we are joined by Pete Dunlap of Citizens Bank, Jim Fujinaga of Hancock Whitney, and Kyle Stroud of Centennial Bank. In addition to industry trends our panel discusses the strategic initiatives driving their programs through 2021 and beyond including client segmentation, rep force tiering, increasing financial planning, working the bank, and becoming a “Trusted Advisor”.

This month we are joined by Jonathon Allen of Wescom, Jim Ferry of ESSA Bank & Trust, and Jim Nonnengard of Regions Bank. In addition to reviewing first quarter performance and second quarter outlooks, this episode dives into strategic issues such as reassessing advisor branch coverage, successful asset gathering tactics, critical 2021 initiatives, the importance of servicing the Protection need, and the ESG investing trend. A big thank you to Ameriprise for making these episodes possible!

For this episode we are joined by Jane-Ellen Porter of People's United, and Vance Richard of First Horizon. In addition to industry trends this episode dives into strategic issues such as centralized financial planning, employing insurance specialists, the importance of cross-departmental relationships, sales force tiering and nurturing book-based advisors.

Part Two picks up the discussion right were we left off in Part One with Frank Consalo of Citi Personal Wealth Management, and Matt Griffin of Steward Concepts, a boutique financial institution affiliated firm. We discuss the need to attract more young talent to our industry, creating trust in advisor/client relationships, selling peace of mind, attracting all the client's assets, and more.

In Part One of this special edition of BISA Industry TrendWatch titled “A Look Ahead – 2021 and Beyond”, not only will we cover the latest trends in the financial institutions channel but will we also look ahead through 2021 and beyond at the critical strategic initiatives that will drive the future success of our channel.  For this discussion we are joined by Frank Consalo of Citi Personal Wealth Management, Sam Guerrieri of Canandaigua National Bank & Trust, and Matt Griffin of Steward Concepts. Matt is a high-end Managing Partner of a six-person team who exemplifies a model that may drive our future growth.  This special episode is presented in two parts.

In this special extended 2020 wrap-up episode we discuss the road ahead with Paul Haines of Middleburg Financial/Atlantic Union Bank, Richard Marsh of M&T Securities, and Chris Melton of Ameriprise.  In addition to where trends are leading us, the discussion includes how financial planning strategies are driving business growth, a focus on growing existing books of business, how advisory business is re-defining our channel, thoughts on the evolution of fee-for-service models, and the thinking behind transitioning from running your own broker-dealer to leveraging a third-party broker dealer.

In this episode we are joined by Angela Holiday of Frost Brokerage Services, Kevin McCarthy of Truist Wealth, and Josh Searcy of Independence Bank. In addition to the monthly trends, we will hear them discuss what has powered program success through this year of challenges, and critical 2021 strategic initiatives influenced by lessons learned during the pandemic.

Join Scott Stathis and Bob Mittel for a discussion with Bob Corsarie of Fifth Third Securities, John Hoffman of Ameriprise and Kevin Mummau of Cuso Financial/Sorrento Pacific. Topics discussed include monthly trends, how 2020 has gotten back on track, the surprising spike in life insurance sales, new strategies and business models evolving from the pandemic, and their forward-looking optimism.

This month we are joined by two BISA Board Members and bank brokerage program leaders, Dorothy Mitchell of US Bancorp and Paul Hansen of Key Bank. In addition to the monthly trends, we will hear them discuss how their top producers have embraced virtual meetings and the planning process. They also cover life insurance awareness month initiatives, and the 2021 planning process.

This month we are joined by Wallace Harris Jr. of BMO Harris, Rich Koll of Investors Bank, and Bob Thompson of S&T Wealth Management, a financial advisory practice of Ameriprise Financial Services, LLC. In addition to the monthly trends, we will hear them discuss the surge in three-year fixed annuity sales due to the “rate play”, how the pandemic gave clients time to focus on getting their financial houses in order, and how remote work forced advisors to not be dependent on their branches for new business.

In this episode we are joined by Mike Miroballi and John Olerio who run the investment programs at Huntington Bank and Webster Bank respectively. In addition to discussing June's sales trends, they also discuss their surprising July revenue surges, factors that are offsetting revenue declines being experienced by others, advisors that are rising to the top during the crisis, and initiatives that are helping them buoy sales.