We created www.fibenchmarking.com to provide our expertise to bank executives so that they, too, can successfully provide investment programs and services to their customers that are professional, responsive and meet all compliance standards.
Eden Prairie, Minn. (PRWEB) May 15, 2010
USAdvisors Network (USAN) and Securities America, Inc. have launched http://www.fibenchmarking.com, a website devoted to helping banks assess their investment programs. Bank executives are invited to complete a free benchmarking survey to evaluate their strengths, weaknesses, threats and opportunities. Participants in the benchmarking survey will receive a white paper on the multiple success factors for investment programs at financial institutions.
“As an independent firm that specializes in working with banks, we know how important it is for them to monitor the performance of their investment programs,” said USAN President Nathan D. Bergeland. “The goal for http://www.fibenchmarking.com is to provide bank executives with free access to professional tools they can use to maximize their investment program’s performance.”
Many financial institutions have found that offering investment products can be a profitable part of their mix but don’t have the expertise or manpower to fully capitalize on it. Shockingly, 35 percent to 49 percent of bank and credit union customers are investing their money elsewhere. In an attempt to solve this problem, USAN and Securities America created an easy way for firms to appraise the success of their investment program and compare it to the competition.
“In my 20 years in the financial services industry, with over 14 of those years working in the Financial Institutions marketplace, I've never seen a robust tool for benchmarking program performance like this,” said Gregg Johnson, Securities America senior vice president and director of branch office development. “Armed with this information, a Financial Institutions Program and/or Advisor will be able to identify the opportunities to make their business more successful and profitable. We are excited to partner with Nate Bergeland and USAN to provide this value added tool to Financial Institutions.”
The http://www.fibenchmarking.com survey evaluates primary measures such as the number of referrals an institution is generating compared to the number converted to investment clients. According to Bergeland’s research, a good referral-to-appointment ratio is 80 percent, and a good appointment-to-sale ratio is 80 percent. Thus, 60-65 percent of referrals should result in the purchase of a financial product.
Secondary measures that provide additional valuable information include:
- How quickly is the institution responding to inquiries?
- How many meetings with new prospects are held each week?
- What types of investments are being purchased most often?
- What’s the average size of an investment transaction?
After completing the http://www.fibenchmarking.com survey, a white paper titled “Best Practices for Successful Investment Programs” will be sent to each survey participant. This in-depth paper provides insights on the factors that make some institutions more successful at serving the investment needs of their customers. In addition, a representative from USAN will contact the respondent to review the results of the survey and provide suggestions for improvement.
“We created http://www.fibenchmarking.com with the intention of providing our expertise to bank executives so that they, too, can successfully provide investment programs and services to their customers that are professional, responsive and meet all compliance standards,” said Bergeland. “These best practices will be what differentiate the top performers from those in the middle of the pack in the coming years.”
For additional information on http://www.fibenchmarketing.com and the “Best Practices for Successful Investment Programs” white paper, contact Nate Bergeland at (952) 829-0000 or e-mail info(at)usadvisorsnetwork(dot)com.
About USAdvisors Network and Securities America, Inc.
For the past 20 years, USAdvisors Network, has provided banks, credit unions and other financial institutions with turnkey investment management programs, innovative development tools, strategies, tactics, and finely honed systems, often doubling fee-income within three years. USAN provides benchmarking, hands-on business planning, management, sales training, compliance, and recruitment services for investment services programs. CEO Nathan D. Bergeland is proud to be a registered representative of and offer securities through Securities America, Inc., one of the nation’s largest independent broker/dealers. To learn more about USAdvisors Network, visit http://www.usadvisorsnetwork.com.
Headquartered in La Vista, Nebraska, Securities America, Inc., Member FINRA/SIPC, has more than 1,900 financial professionals nationwide with more than $42 billion in client assets under their supervision. Securities America Advisors, Inc. is an SEC-Registered Investment Advisory firm with more than $14 billion in assets under management and administration that offers investment management, financial advice and financial planning through financial advisors. As "your business growth expert," Securities America's mission is to foster the success of financial professionals so they can provide quality, objective counsel and services to their clients. Additional information is available at http://www.securitiesamerica.com.