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kasina Excellence in Distribution: Internal Wholesaling
 

kasina Excellence in Distribution: Internal Wholesaling

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kasina delves into best practices and benchmarking data for Internal Wholesaling. Recommendations include ideas for optimizing staffing, structure and process, territory management, technology, and ...

kasina delves into best practices and benchmarking data for Internal Wholesaling. Recommendations include ideas for optimizing staffing, structure and process, territory management, technology, and compensation.

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    kasina Excellence in Distribution: Internal Wholesaling kasina Excellence in Distribution: Internal Wholesaling Presentation Transcript

    • Excellence in Distribution: Internal Wholesaling
      January, 2010
    • 2
      Agenda
      Benchmarking Reports from kasina
      Costs of Compensation: Sales and National Accounts – August, 2009
      Excellence in Distribution: External Wholesaling – December, 2009
      Excellence in Distribution: Internal Wholesaling is third in series of benchmarking reports
      Survey data and secondary research
      Strategies and recommendations
      Upcoming reports
      National Accounts – 1st quarter
      Hybrid Wholesaling – 2nd quarter
    • 3
      Agenda
      Key Levers
      Sales Force Structure and Selling Process
      Technology Deployment
      Territory Management
      Compensation
    • 4
      Excellence in Distribution: Internal Wholesaling
      Internals Spend 54% of Their Time Selling & Servicing
      Externals spend 57%*
      Internals are no longer primarily administrative
      * Excellence in Distribution: External Wholesaling. kasina. 2009
    • 5
      Excellence in Distribution: Internal Wholesaling
      Success StrategyStaff up with Hybrids & Internals
      Aim for 60% hybrids & internals supporting 40% externals
      Internals cost 28% of externals. Hybrids cost 47% of externals*
      Gross sales production levels of hybrids range from 50 – 100 % of externals, depending on firm size **
      * Costs of Compensation: Sales and National Accounts. kasina. 2009
      **The Truth About Hybrid Wholesaling. kasina. 2008
    • 6
      Excellence in Distribution: External Wholesaling
      Success StrategyIntegrate Technology To Drive Sales
      Advisors who use firm’s Web sites and have wholesaler coverage average 25% more sales than advisors with no Web site use*
      • Train and incent wholesalers to integrate Web, e-mail, CRM in selling
      Ensure wholesalers are training advisors online and track usage
      *Your Site Can Sell, Too, kasina, 2008
    • 7
      Excellence in Distribution: Internal Wholesaling
      Internals Cover Territories > 2K Advisors at 42% of Firms
      ~100 calls/day to reach each advisor 1x/month
    • 8
      Excellence in Distribution: Internal Wholesaling
      Only 53% of Firms Measure Internals on Gross Sales
      • But, all firms allocate an average 37% of compensation to commissions
    • 9
      Excellence in Distribution: Internal Wholesaling
      Recognized, Responsible & Rewarded
      Knowledgeable and trusted business partner to advisors
      Equal, valued team member with hybrids and externals
      Avid promoter of Web tools and online information
      Active contributor to CRM
      Clear path to greater authority, responsibility and reward
      Aligned with firm’s business and profitability objectives
    • 10
      Andy Edwards
      Business Development Manager
      e-mail: aedwards@kasina.com
      phone: 646 257 4454
      fax: 212 349 7413
      Excellence in Distribution: External Wholesaling
      Aboutkasina
      Our firm has a singular mission:Innovate distribution in financial services
      For more information, please contact: