DOUBLING A WEALTH MANAGEMENT ADVISORY’S ORGANIC GROWTH THROUGH SALES PERFORMANCE

 

“It’s been a big change for us and has helped create a culture of continuous improvement. The advisors are now coming to us and asking if we have time for more roleplay sessions!”

Michael Stimpson Partner of Saltus

 

 

WHAT DID THE CLIENT WANT TO ACHIEVE?

Saltus wanted to improve their organic growth. To achieve that growth, they wanted a change in their management structure, so they allocated a budget to outsource a consultancy partner. They were looking for someone who could work with both the Sales & Leadership Teams to bridge the gap between them. Saltus wanted to take their time in their search to create a long-term partnership – they wanted someone who would not only train, but consult and find any other issues as well.

 

THE RESULTS

Before Saltus engaged with SBR, they had about 6-7% growth organically and set what felt like quite an ambitious target to grow at 10%. Currently Saltus are running just above 12%.
Last year they had one advisor who brought in more than £10 million of assets to the business. Now Saltus have 11 out of 14 that are on course to do that. There had been a noticeable difference and value add through sales performance.

Systematically, SBR helped build a repeatable structure with a train the trainer approach. Some example implementations Saltus now adopt are monthly 1-2-1s with their advisors, monthly shadowing calls and roleplay sessions. The advisors share their best practices to build a culture of continuous improvement.

 

SBR’S APPROACH

SBR started with the Consult Phase which was an audit on Saltus’ current sales capability, including strategy, structure, process, and methodology. SBR benchmarked their current sales competencies and exhibited them against industry and market best practice. Creation of the outputs and deliverables of the consult phase determined the scope of the Create phase and was outlined in a sales capability report. SBR engaged with Saltus’ team to roll out and support the implementation of the new processes, frameworks and tools.

 

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