Front Office

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Front Office by Mind Map: Front Office

1. Wealth Structuring support (Trust Co.)

2. Define Service

2.1. Service culture/practices

2.2. Define how fits with values/purpose

3. Elements

3.1. Retention

3.2. Service

3.3. Proactivity

3.4. Measures

3.4.1. Client base growth

3.4.2. Number of £1m+ clients

3.4.3. Prospect Management

3.4.4. Pipeline Management

3.4.5. Introducer Management

3.4.6. Key Clients

3.4.7. Retention Activity

3.4.8. Thought leadership contribution

3.4.9. Lifelong learning, creativity & curiosity

4. Management

4.1. Expectations/Rhythm

4.2. Define key measures

4.3. MI & Dashboards

4.4. Training & Competency/Supervision

4.5. Toolkit/good conversations

4.5.1. PB assessment tool

4.5.2. 121s

4.5.3. Book Review

4.5.4. Key Client Review

4.5.5. Observed client meetings/feedback

4.5.6. Use of facts to provide feedback on performance

4.5.7. Driving operational efficiency & support

4.5.8. Removing blockers

4.5.9. Allocating resources

4.5.10. Client Service calls

4.5.11. Bankers joining & leaving - client experience

4.5.12. Succession/Career progression (new talent)

4.5.13. Hiring

5. Measures

5.1. Increasing quantity and quality of advice events

5.1.1. Increasing client call and meeting activity

5.1.2. Penetration of investment advice into client base

5.1.3. Penetratiion of wealth planning

5.1.4. Management of product maturities

5.1.5. Management of dealflow/pipeline

5.2. Improving service to clients

5.2.1. Increasing digital adoption

5.2.2. Credit turnaround

5.2.3. Onboarding experience

5.2.4. Reviewing investment performance before quarterly valuations

5.2.5. Credit reviews

5.2.6. Annual service/investment reviews

5.3. Team Culture

5.3.1. Professional development

5.3.2. Market/wealth structuring conversation

5.3.3. Collaboration - seeking a greater good beyond yourself

5.3.4. Holding high expectations

5.3.5. Professional environment

5.3.6. Good proactive client disciplines

5.3.7. Take accountability for service to clients - focus on what front office team can do to improve it

5.4. New Client Origination

5.4.1. New clients being onboarded £1m+

5.5. Financial Output Measures

5.5.1. AUM, Lending, AUA, Total Wealth + Revenue

5.6. Pipeline

5.6.1. Effective building and managing of pipeline

6. MI

6.1. Forward looking

6.1.1. Clients At Risk

6.1.2. Pipeline

6.1.3. £1m+ Prospect list

6.1.4. Strategy x Activity

6.1.5. Number of clients taken through the wealth planning process

6.2. Backward looking

6.2.1. Number of £1m+ Clients

6.2.2. Net AUM Growth

6.2.3. Net Lending Growth

6.2.4. Net Growth in AUA/Deposits

6.2.5. Revenue

6.2.6. Risk & Conduct measures

7. Actions

7.1. Dependancies

7.1.1. Head of Proposition Role

7.1.1.1. Investment

7.1.1.2. Banking

7.1.1.3. Digital

7.1.1.4. Possible Wealth Planning

7.1.1.5. New Product Sign off

7.1.1.6. Define 'Advice Model' & 'Wealth Plan'

7.1.2. MD of Trust Company role

7.1.3. Projects

7.1.3.1. Wealth planning hiring

7.1.3.2. Digital & mobile

7.1.3.3. Cashflow planning

7.1.3.4. Role specialisation

7.1.3.4.1. Private Banker

7.1.3.4.2. Investment Specialist

7.1.3.4.3. Credit Specialist

7.1.3.4.4. Wealth Planner

7.1.3.4.5. Support roles

7.1.3.5. HR System

7.2. Steps

7.2.1. Clearly define front office roles

7.2.1.1. Roles

7.2.1.1.1. Private Banker RM

7.2.1.1.2. Investment Specialist

7.2.1.1.3. Lending specialist

7.2.1.1.4. Wealth Planner/structurer

7.2.1.1.5. Private Client v Trust v Intermediary

7.2.2. Clearly define metrics (number of clients/Assets per PB)

7.2.2.1. Who owns clients

7.2.2.2. No abandoned clients

7.2.2.3. Define a full book v support kick in

7.2.3. Clearly define support model

7.2.4. Do we need client segmentation - even if loose

7.2.5. Measures

7.2.5.1. Weekly

7.2.5.2. Monthly

7.2.5.3. Annually

7.2.6. Define values & purpose (redefine)

7.2.6.1. Curiosity, Creativity & Communication

7.2.6.2. Innovation & Execution

7.2.7. Volunteers to get going on

7.2.7.1. Women

7.2.7.2. Entrepreneurs

7.2.7.3. Philanthropy

7.2.7.4. Next Generation

7.2.7.5. Academy/Development

7.2.7.6. Investment

7.2.7.7. South Africa

7.2.7.8. Video production - content

7.3. Actions