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[Bank Distribution & Retirement Marketings Practices]
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The "Bank" Distribution Channel Practice

DSG’s Bank Distribution Channel Practice is based on the conviction that depository institutions must offer a widening array of financial products and services in order to meet the increasingly complex needs of their customers. Clients include banks, thrifts, trust companies and credit unions who wish to enhance the integration, sales, professionalism and profitability of their investment and insurance programs as well as their overall institutional sales performance.

DSG works with financial institutions in many ways:

At the Investment or Insurance Program level

Our ProgramBuilder™ service provides ongoing support specifically focused on investment and/or insurance programs. It brings you a team of experienced professionals to supplement and leverage the efforts and enhance your product and service partners.

ProgramBuilder™ will help you:

  • Improve rep/agent productivity
  • Improve your investment and insurance (sales) management effectiveness
  • Increase your profits from investments and insurance
  • Benchmark your efforts and results against peers

By bringing you:

  • Industry best practices that can be applied to your situation
  • The experience and expertise of a team of seasoned executives who work with numerous institutions across all sectors of financial services

At the Institutional/Enterprise level

Our Bank Sales Improvement Program (SIP) is designed to build customer focus and increase sales productivity throughout your entire institution. Working from the top-down as well as bottom-up, the Sales Improvement Program will help you:

  • Improve cross selling at all levels
  • Break down "silos"
  • Improve communication and information flow
  • Create effective compensation plan(s)
  • Affect positive behavioral change
  • Build a true customer needs/solutions focus throughout your institution

Steps in the Sales Improvement Program, include:

  • Assess your current sales environment and results
  • Develop specific strategies to improve your performance
  • Work with you to effectively implement the strategies

Our Regulatory & Compliance support includes:

On an ad hoc project basis

In addition, longer term relationships outlined above, DSG works on ad hoc projects such as:

  • Buy, build or rent decisions
  • TPM and other partner searches
  • Broker/dealer and insurance agency valuations, acquisition
  • Sales (management) development
  • Executive education/presentations
  • Platform program development
  • Referral programs
  • Compensation plans
  • New retirement market strategies
  • Investment and insurance sales development
  • Executive and staff education
  • Business planning/implementation
  • Presentations and workshops

 

REPRESENTATIVE ENGAGEMENTS

Investment Products Business Plan. Helped a regional bank develop a business plan for its five-year-old broker/dealer. This included a change in strategic direction from discount to full service, the internalization of many functions, and the selection of a new marketing partner. The result was much better integration of the program and significantly increased sales.

Bank Broker-Dealer Audit. DSG worked with a national financial services firm to perform an operational and compliance audit for executive management prior to a broker-dealer acquisition and to prepare for future regulatory audits.

Investment Program Structure and Integration. DSG helped a regional bank revitalize its investment program by restructuring its pricing to clients, sales organization, and compensation plan. The results have been a much more fully integrated program with a dramatic increase in sales.

Bank Insurance Agency Acquisition. Worked with a community bank to develop an insurance strategy, evaluate a potential agency partner, and structure an acquisition. The bank acquired the agency and is now growing its insurance business.

Bank Market Strategy. Worked with a large financial services group to define and evaluate its growth potential in the bank market and to develop appropriate strategies at both enterprise and operating unit levels. Business plans are now being executed, and revenues from this channel are increasing.

Annuity Distributor Strategy. Helped a major national distributor of annuities evaluate the opportunities in the bank market and develop strategies to penetrate it. The result was a refocus of the organization and very significant growth in this market.

Sales Culture Development. Assisted a leading community bank to evaluate their overall "sales" infrastructure and to develop strategies to build an institution-wide, customer needs-focused sales culture. Client has made organizational changes, undertaken significant training, and implemented a broad performance-based compensation program.

Cooperative Broker Dealer Venture. Worked with a group of leading credit unions to evaluate and define their investment program needs, develop a cooperative strategy, and acquire a broker dealer. Including all members of the "Funding Group," the B/D now services over 20 credit unions.

 

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