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wealth management 3.0

Bank Innovation Panel: New Product Strategies

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On Monday March 18 I will be moderating a panel on New Product Strategies & Possibilities at the Bank Innovation 2013 conference in San Francisco. The panel will discuss best practices to promote innovation in product management from a variety of perspectives from within and without the banking industry. That’s a topic I have been spending quite a bit of time on lately as many financial institutions struggle to find ways to differentiate themselves against literally thousands of similar competitors.

See also: Reinventing Bank Product Design in the Experience Economy

The afternoon session will begin with a presentation on Big Data and Banking: The Seeds of Innovation by Shawn Budde, Co-Founder & Chief Operating Officer of  ZestFinance. Shawn will discuss how big data can drive innovation and create new product opportunities.

I asked Shawn for his thoughts looking ahead to the conference:

“As a startup, we’ve had the opportunity to take a fresh look at underwriting by bringing Google-style analytics to lending. Historically, there hasn’t seen much disruption in this space, but we’ve managed to realize improvements in just three years. These advancements would not have been been possible with the techniques that the industry has been using for decades.”

Following his presentation, Shawn will join fellow panelists Peter Vogel, Co-Founder & CEO of Plink, John Schulte, SVP & CIO, Mercantile Bank of Michigan, and Michael Panzarella, Director, Financial Services for Perficient. (See also Perficient’s special page on the conference.)

Bank Innovation Panel: New Product Strategies

During the session, we will discuss best practices to promote innovation in the product management function, the impact of regulatory compliance on innovation, the role of rewards, couponing, and commerce in banking products and future areas for potential innovation and product development.

I think John Schulte put it well as we discussed the broad scope of our discussion:

“Innovation can come in a number of forms.  Sometimes the art of innovating is in the ability to curate and integrate the right complimentary solutions to form something that’s more powerful as a whole.” 

For more information about the conference or to request an invitation, visit the Bank Innovation 2013 website: http://bankinnovation.info

See also: Differentiation Through Client Experience

 

Clients Do Not Want Help. Until They Do.

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(This was originally published as a guest post for my friends at the management consulting and strategic communications firm Beyond the Arc: Understanding how customers really want help.)

On the same day I published a post about the sometimes disappointing allure of technology (Technology is Not a Silver Bullet), the always insightful Discerning Technologist Brad Leimer shared a a post from The Financial Brand on LinkedIn (Big Study Examines Retail Channel Preferences).

The study, sponsored by Cisco, showed strong consumer preferences for non-branch channels such as web, mobile, phone and ATM for many types of interactions. However, branches were the preferred channel for such things as “Apply for a loan” and “Support from banking representative”. (See below)

What explains the stark differences? First of all, as Ron Shevlin of Snarketing 2.0 says,  just because a person visits a branch for help or to complete a transaction doesn’t necessarily mean that they prefer to do it that way. It may mean that the web site or phone representative was inadequate to meet the client’s needs.

Secondly, and not to get all snarkety myself (that’s Ron’s sole province), but clients really don’t want your help. Until they do.

Results Not Process

Much has been written about the so-called “customer experience”– everything that a customer comes in contact with during their lifetime interaction with your brand; direct and indirect, obvious and subtle, conscious and unconscious.

Successful firms correctly attempt to measure the expressed and latent needs of clients. The best keep in mind the words of the great ad man David Ogilvy, who has been variously quoted as saying multiple versions of “People don’t want quarter-inch drill bits, they want quarter-inch holes.”

I have long found inspiration in the work of now-retired Harvard Business School professor David H. Maister, and I have been using some variation of his 2×2 matrix below for at least a decade.

Maister uses a healthcare analogy to describe the key operational and profitability metrics of different departments, and I have found it useful to help financial firms think through their various activities and how they provide value to their clients.

Pharmacy (Low Touch/Standardized Process)
For a financial firm, these are the things that just need to get done quickly and accurately. For the most part clients have little preference as to how.
–
• Account Opening
• Transactions
• Balance Reporting
• Transfers
• Basic Service Issues
–
Nursing (High Touch/Standardized Process)
These are items that might need a little more hand-holding, even though the processes and protocols are still well defined, and good client-service skills can go a long way to improving client satisfaction.
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• Standard Credit
• Product Advice
• Estate Settlement
• Discretionary  Trust
• Complex Issues
–
Brain Surgery (Low Touch/Specialized Process)
These activities require specialized skills, but the real value comes from applying the expertise, not necessarily from the advisor/client relationship.
—
• Custom Credit
• Asset Allocation
• Basic Trust Admin
• Complex Assets
• Basic Estate Plans
–
Psychotherapy (High Touch/Specialized Process)
For financial firms (and especially wealth management firms), this is the top of the value chain. It’s what happens here that drives most loyalty/at-risk measures. Diagnosis is key, and it is from here where brain surgery may be prescribed.
–
• Goal Setting
• Financial Planning
• Complex Estates
• Succession Matters
• Nonfinancial Issues
• Moral Support
–

Bringing it All Together

Clients may well be willing to use your new app for certain things, utilize your web site to download transactions and contact your call center to change their address. Those things may improve your operating margins– as long as they work.

The face-to-face interactions that do the most to improve the client experience are not the ones that solve the issues that could have been (and should have been) solved via other channels (See two surefire ways to irritate your customers. It’s the ones where they are really receiving the time and attention from someone who understands their situation and their goals and is helping them get to where they want to be.

Clients don’t want your help. Until they do.

Five Shifts that Define the New Era for Wealth Management

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Five massive foundational shifts are impacting financial service providers of all types, and they are impacting those that serve affluent clients in especially unique ways. Many of the strategies, skills and behaviors that enabled success in the past are now at best ineffective, and completely irrelevant in some cases. Advisors and firms serving affluent clients must adapt to these new realities to be successful in the future.

“If you don’t like change, you’re going to like irrelevance even less.” 

— General Eric Shinseki, Chief of Staff, U. S. Army

The first shift is economic. The global financial crisis begun in 2008 is still having a long-term impact on the creation, growth and preservation of wealth. Today’s low growth, low yield environment will likely stick with us for some time, and today’s advisors have to be able to help their clients navigate the realities of the new economy. Firms cannot count on rising portfolio values to increase revenues.

The second shift is regulatory. Partially as a result of the financial meltdown, central banks and regulators all over the world are the in middle of redefining the rules and regulations that today’s financial advisors will likely have to live by for the rest of their careers. Some of the important revenue streams of the past have been curtailed or eliminated—think overdraft fees, payday loans, interchange fees, some mortgage fees, etc. And we are not even close to done, as of October 1, 2012 only one-third of the provisions of Dodd-Frank had been finalized, and another third have not yet even been proposed.

The third shift is demographic. Various research projects that anywhere from $18 Trillion and $56 Trillion of financial wealth will be passing down from the Traditionalist and Baby Boomer generations to their Generation X and Generation Y children and grandchildren over the next several years. Gen X and Gen Y could have a combined wealth that exceeds that of the Baby Boomers as early as 2018, and they do not want “their father’s Oldsmobile”. Even with the more conservative estimates, this is a huge threat for those advisors and firms who don’t adapt to the changes. And it is a massive opportunity for those that do.

The fourth shift is competitive. The global financial crisis caused the weakest firms to disappear while the biggest and strongest got bigger and stronger. (In some cases, only bigger.) It is more important than ever for smaller firms to differentiate themselves in ways that are really relevant. Simply being “the bank” of, say Cozad, for example is no longer enough.

The fifth shift is technological. The tools are already here to radically improve client intimacy and client engagement. The rapid adoption of the iPad and other tablets give wealth managers the opportunity to change the dynamics of the across-the-desk transaction into the shoulder-to-shoulder collaboration that really engages the client. Big data and analytics give firms the power to better understand client behaviors and preferences, if they bother to listen. Social media opens up whole new avenues of client contact.

The challenge will be for firms to adopt the right strategies and then have the discipline to execute. As in every era, we will have winners and we will have losers, and success will go to those who embrace the possibilities of the future while staying relevant to their clients.

 

Get the full report

 

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Wealth Management 3.0 is Here, Are You Ready?

The Convergence of High Tech and High Touch in Wealth Management

Finovate Fall 2012 Best of Show Winners

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Another Finovate conference is in the books. The Best of Show winners included MoneyDesktop, one of the companies on my watch list for accelerating the convergence of high tech and high touch, and one that should have been on my list, but had eluded my foresight (Learnvest).

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New York welcomed the Finovate road show to town with weather was so perfect that it faded into the background like a perfect picture frame. For the most part, the show graced the perfect frame beautifully, with attractive and engaging interfaces being the rule. So much so that Aite analyst and Snarketing 2.0 blogger Ron Shevlin mused about the attendees being “SedUIced”  by interfaces over business impact.

It’s a shame that intermittent WiFi and cell coverage inside the hall occasionally defaced the exhibition with digital graffiti. If I hadn’t known that Javits Convention Center has distanced itself from its early reputation as a patronage mill for the mob, I would have thought that a few of the exhibitors had spurned pre-show shakedowns behind the dumpsters. (“It would be a real shame if that pretty app of yours somehow couldn’t connect to the network right in the middle of your demo…”)

Making the Complex Simple

A wise CFO I once worked with proclaimed that were two kinds of people in the world, those that make the complex simple, and those that make the simple complex.

There weren’t too many in the latter camp, the Finovate team screens and coaches demonstrators well. Still, a few seemed to have slapped technology onto a convoluted process and/or addressed an irrelevant problem; or as someone tweeted– solved problems no one has with technology no one wants. There were (only) a few moments that felt like SharkTank, and I secretly wished for the schadenfreude of a venture capitalist throwing a cold glass of reality on the smoldering embers of a bad idea.

But the majority of the demos addressed relevant problems and simplified the complex with good design, and most appropriately recognized mobile as a significant front in the fintech wars.

All of the Best of Show winners (in alphabetic order):

  • Credit Sesame: Mint and LendingTree had a very good looking baby. Credit-centric PFM with recommendations for managing debt.
  • Dashlane addressed the sometimes laborious process of filling out multiple fields for e-commerce checkout with a single solution for any vendor on any platform.
  • Dynamics showed a payment card with a built-in switch that enables customers to choose multiple payment sources. (Parenthetically, I “invented” this a few years ago in an ideation session. I also “invented” BetaMax when I was nine. And flying suits.)
  • eToro had an impressive demo of a pretty product that I happen to categorically reject. Their CopyTrader technology enables stock traders to harness the “wisdom” of the crowds in their own gambling, er, trading. It was a definite crowd favorite, but I have seen the prequels “Internet Stocks” (1999) and “Real Estate” (2007). They were both gripping thrillers with horrible endings.
  • LearnVest was a glaring omission from my pre-show list of three firms to watch. The firm and it’s founder and CEO Alexa von Tobel have been getting much well-deserved press, and their latest contribution to the convergence of high-tech and high-touch includes the ability to collaborate with a financial planner.
  • MoneyDesktop repeated as a back to back winner. Their patent-pending “bubble budgets” provide a nice graphical representation of budget items and they continue to refine their ecosystem with synching iPad, smartphone and desktop apps.
  • PayTap offered a slick and apparently effective solution for paying shared bills via multiple payment sources and social networks. They also pitched it as a way to make it easier when you are asked to help pay someone else’s bill. I’m looking for the blacklist feature on that one…
  • ShopKeep POS enables merchants to run a store from an iPad. Another great example of making the complex simple, with a great interface.

All in all, another great show full of smart people and innovative ideas, and another reminder that we are still in the early stages of disruptive technology in financial services.

This is really starting to get good.

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When the Affluent Become the Unbanked

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Concern about those who have been left behind in receiving financial services (“the unbanked” and “the underbanked” ) have been popular topics of conversation amongst bankers and regulators over the past few years.

An important thread of these conversations has been the fact that in many cases, it is the customers who are leaving the traditional financial service providers behind, not the other way around.

I spend most of my time working with the “overbanked”– affluent families who have no shortage of financial services options, and as I have written previously, they too can find a variety of services to borrow, hold, invest and move money without the need for a traditional bank.

Yesterday’s Wall Street Journal reported on an affluent family who has “…no need, desire or want to go to a regular bank,”

Footnote to Financial Crisi: More People Shun the Bank – WSJ.com

 

 

Why More Experienced CEOs Will Stay At the Forefront of Tech Innovation

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This is as encouraging to me personally (“the average age of founders of technology companies is a surprisingly high 39 – with twice as many over-50 executives as those under 29 years old.)”, as it is generally (“The United States might be on the cusp of an entrepreneurship boom—not in spite of an aging population but because of it.”).

But I especially like the described “four character traits of a successful CEO – Sensemaking, Relating, Visioning, Inventing.” I couldn’t agree more, and I have seen an abundance of these traits in the CEOs I admire the most (and a dearth in those who leaving me scratching my head).

Wealth Management 3.0 Is Here– Are You Ready? (Part 3 of 3)

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Over the past couple of posts we took a fairly irreverent whirlwind tour through the last 150+ years of those financial services oriented specifically towards helping successful families grow, protect and share their wealth– the very essence of wealth management. [See Wealth Management 1.0 (1853-1982) and Wealth Management 2.0 (1982-2008)]

Today we will bring this three part series to a close, but we will revisit often the idea of the changing nature of the wealth management business and discuss how firms and advisors must adapt to compete in this new era.

Wealth Management 3.0 (2008-?)

If the forces of change burgeoning at the beginning of this current decade stuck out their collective feet and tripped the industry and sent it reeling, then the global financial crisis begun in 2008 and its resulting round of bank failures, mega-mergers and new regulations knelt down behind the backs of the industry’s knees and sent it tumbling noisily and unwillingly into the latest era, Wealth Management 3.0.

More banks failed in the last four years than the prior 15 years combined. Financial giants like Bear Sterns and Washington Mutual went out of business, once swaggering players like Merrill Lynch and Countrywide Mortgage ran to the protective arms of a lowly commercial bank, and Masters of the Universe like Goldman Sachs and Morgan Stanley actually sought bank charters.

Brokerage firms all but hired costumed characters to stand outside suburban strip malls and dance and twirl signs that said “Giant Clearance Sale! Stocks as much as 80% off!”. It was, as Bill Murray’s character Peter Venkman said in Ghostbusters, a “disaster of biblical proportions”.

“Human sacrifice, dogs and cats living together… mass hysteria!”

–Dr. Peter Venkman, Ghostbusters

Frogs in boiling water

Even firms that weren’t dying from mortal wounds– self-inflicted, or otherwise– began to realize that they were like the proverbial frogs in water that was approaching the boiling point. The persistent bull market and deregulation of the previous era had masked the steadily rising water temperature.

Former Citigroup Chairman Chuck Prince famously remarked in 2007 that “..as long as the music is playing you’ve to get up and dance”. But even MC Bernanke’s extended dance mix had to spin down sometime. And when it did, even firms without severe asset quality or liquidity issues came to realize that they had a problem in their cost structure.

The troubled airline industry provides an apt, if unfortunate, analogy. All clients deserve a safe, courteous and on-time flight, but wealth management groups were designed to deliver an experience above and beyond the minimum– they are the first class cabin of the firm. But many firms began to realize that in their blind quest for growth that their gate agents had been allowing some holders of deep-discount coach tickets to take up first class seats and drink all the champagne.

In other words, there was not always the discipline to ensure an appropriate matching of marginal expenses to marginal revenue. Worse, the industry conditioned clients to expect the first class experience for blue-light special pricing. The talent and technology needed to provide comprehensive wealth management services are not cheap; and providing them economically is a challenge (though not impossible).

But the crude cost cutting axes swung in the prior era won’t work today. Managers instead must skillfully wield a discriminating scalpel to trim away unjustified and unproductive expenses, while simultaneously investing in the things that matter to the clients. (Hint: It won’t be mahogany, marble and fine china for the clients of the future.) Firms that cannot do that will likely attract a new management team that can. (See Is Bank Merger Mania Imminent?)

Reregulation

Just as deregulation was a driving force in Wealth Management 2.0, reregulation will be a driving force in Wealth Management 3.0. This past Saturday, July 21, marked the two year anniversary of President Obama’s signing into law the Dodd-Frank Wall Street Reform and Consumer Protection Act.

So far Washington’s paper multiplication machinery has managed to turn the 848 pages of the bill into 8,843 pages of rules– and they are only 30% done with writing the rules and regulations! If this pace continues, we will have nearly 30,000 pages of new rules for firms to wade through by the time they’re done– likely sometime early in 2017.

When I was a young boy I was always intrigued with the ad in the back of my Archie comics for the machine that turned ordinary pieces of paper into $5, $10, even $20 bills! They have that machine’s evil twin in Washington. It turns massive stacks of money into prodigious piles of dense prose.

Many of the new rules will, at best, fight the last war in 20/80 hindsight; and it is very likely that the next crisis will not be anticipated therein, let alone thwarted. Nonetheless, today’s firms and and advisors are already spending time, money and cultural energy ensuring compliance with all of the new rules and regulations.

Firms and advisors also need to devise new ways to generate revenue, as some provisions severely curtail some of the most profitable business practices of the past. No wonder so many firms are looking to new wealth management initiatives to offset these challenges. (See Banker Jones and the Last Crusade: Is Wealth Management the New Holy Grail?)

For extensive reporting and resources on Dodd-Frank, excellent information is available from the law firm DavisPolk, and this infographic is a good primer on the current status.

The next generations

As formidable as are the heaving changes wrought from within the industry, those generational and technological changes from the outside may be even more profound and devastating if firms and advisors do not embrace the winds of change rustling through their own Rolodexes.

Advisors: Generation Y, the Millennials (born roughly from 1982-2000), are joining your workforce and your client base, and they will not even consider your firm’s services if you aren’t relevant to them. As my friend David Stillman likes to say:

“This is the most connected and most collaborative generation ever… They not only accept diversity, the expect it… Millennials will experience as many as 10 career changes in there lifetimes. That’s career changes, not job changes.”

— David Stillman, co-author, When Generations Collide

They have all but ditched email because it’s too slow. They communicate not only with their peers, but with other modern firms, via text messages and directly through Facebook. Your paternal smile and shake of the head as you explain that those things really aren’t your style will only confirm their suspicions of your paleontology.

They “crowdsource” recommendations for everything from restaurants to car purchases and they trust the wisdom of the crowd far more than any marketing message you can possibly craft. If other people they trust aren’t talking about you, they will will look at you like someone crashing their favorite hipster music festival in sandals and black socks (which is to say, you actually have a shot if you are cool enough to pull it off).

If they are unhappy with their experience with you, it can hit their Twitter feed and their Facebook wall, and in the matter of minutes, you and/or your firm have some viral bad PR on your hands before you can even say “Do you want those funds wired, or do you want a check”? And no, they do not want a check, thank you.

Some firms still aren’t even present on these social networks, so they aren’t even aware of the conversations underway about their brand (good or bad). Others are present, but mistake social media as merely a soapbox to push their own one-way marketing messages.

The firms best positioned to thrive in this social era are actively participating in the conversations and using these interactions as ways to build relationships and deepen client engagement.

Key attributes of Wealth Management 3.0

  • Key characteristics: disruptive innovation is the new norm; rise of mobile, social media, big data and analytics; reregulation
  • Key firm capabilities: transparency; acting in clients’ best interests; active and relevant social media presence; clear value propositions; goals-based advice
  • Key client goals: mass luxury; seamless integration for self service and full service; social responsibility (in many forms), capital preservation; social and peer validation of advisors and strategies
  • Key advisor skills: comfort with technology; social media literacy; not being lame
  • Key advisor activities: customized client intimacy; monitoring social media for risks and opportunities; tailoring holistic advice (and reporting) to relevant goals

 Coming Up: Becoming an Advisor 3.0

In upcoming posts we will continue to explore the rapidly changing landscape and discuss the skills and activities needed to move beyond Advisor 1.0 or 2.0. To be relevant and successful in the new era, you must be an Advisor 3.0.

© JP Nicols – 2012

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Wealth Management 3.0 Is Here– Are You Ready? (Part 2 of 3)

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Last week in Wealth Management 1.0, we explored the origins of the wealth management business in America. As in that post, I will again disclaim any notion of deep academic research and thorough economic analysis in favor of getting to the point.

The most important formula in banking used to be the 3-6-3 rule. Bankers brought in deposits by paying 3%, they lent that money back out at 6%, and they were out on the golf course by 3PM. Economic conditions were generally supportive of this plan. Periods of high unemployment had the good manners not to be associated with such distasteful concepts as high inflation. But they joined the same commune in the 60’s and 70’s, and Keynesian economists shook their heads and clucked their tongues as disapprovingly as if a Jefferson Airplane concert had broken out down at the local VFW hall.

Things got so bad that we had to invent a new formula to describe the economic mess– the misery index, which combined the unemployment and inflation rates. It peaked in 1980 at 20.76 (7.18% unemployment + 13.58% inflation), as did the U.S. Prime Rate, at 21.5%. Bankers, particularly those of the S&L variety, found themselves stuck with paying double digit deposit rates while they still had 4% 30-year mortgages on the books. Presumably, golf handicaps spiked as well.

Wealth Management 2.0 (1982-2008)

A 1982 reduction of income tax rates, combined with various rounds of deregulation for financial firms and markets, ushered in the next era of wealth management; amidst a booming stock market and falling interest rates. Most experts agree that the launch of MTV on 8/1/81 did not have an appreciable impact on  financial flows, even as it was implicated in the death of the radio star.

Demographics also came in to play as Baby Boomers moved into the management ranks and characteristically began to make sweeping changes to the institutions they encounter– financial institutions, in this case. Formalized bank training programs were cut in favor of higher profit margins, and branch banking became more focused on the mainstream consumer. Branch automation– everything from ATMs to electronic ledgers and loan accounting systems meant that you could now sell home equity lines to suburbanites without having to spend 10 years working your way up from Assistant Cashier to Associate Loan Teller.

This rapidly grew the profitability of consumer banking, but it also meant that the wealthy business owner who was used to his three martini lunch with the local bank VP down at the club was now seeing his 23 year old ‘Branch Sales Manager’ carrying his tuna melt into the branch break room after the owner renewed his term note.

The rise of comprehensive wealth management

Those local businesses were important to the commercial side of the bank, so teams of experienced bankers were assembled to take care of those business owners and other VIPs, often as a loss leader. ‘Private banking’ departments for the affluent became widespread in U.S. commercial banks, though they were not typically built for purposes of secrecy and private investment arrangements like their Swiss inspiration. A typical day in a U.S. firms was much more likely to involve converting a Kroger executive’s bonus into a Swiss chalet style vacation home, rather than converting Krugerrands into Swiss Francs.

Before long, private banking departments were being merged with trust departments and investment operations (many of which also managed the investment of the banks’ own assets), and even brokerage and insurance subsidiaries. Bank trust departments whose most sophisticated investment strategies to date were a couple of variations of domestic stocks, bonds and cash now had to confront the rise and proliferation of mutual funds. Financial innovation continued on throughout the era to include a panoply of packaged and structured products– hedge funds, funds of funds, separately managed accounts, unified management accounts, etc.

The more innovative firms began separating ‘manufacturing’ of financial products from ‘distribution’. This meant a tremendous expansion of choice and capabilities; as if the local diner with a blue plate special and three standard entrees on the menu could now suddenly serve you virtually any meal, prepared by your favorite celebrity chef from the other side of the country. This was great news for the clients, but the advisor now needed a lot more than a green ticket pad and a pen behind her ear to be successful.

Exogenous factors

Consolidation was a driving force in the industry throughout the era– banks, brokerage firms, insurance companies, investment advisors and financial planners established competing operations and bought one another in every combination imaginable. As in other industries, the strong bought the weak and the big got bigger, but there were lots of strategic drivers as well. Firms sought capabilities they didn’t have to retain and attract clients.

Other factors exogenous to the industry also begin to chip away at traditional ways of doing business. Large firms established modes of self-service during the era such as ATMs and online banking and brokerage, usually to reduce operating costs. Now, Generation X , whether through their stereotypical skepticism of large institutions or by necessity, embraced the control and flexibility of doing things themselves. Technology pioneers such as Quicken, Fidelity, Schwab, Ameritrade and others began to build new business models. Suddenly many traditional firms were bloated with too many people who couldn’t do enough of the things their clients were actually willing to pay for.

Some of the best advisors established their own Registered Investment Advisor (RIA) firms to cater to niches and the industry simultaneously became even more fragmented even as it continued to consolidate.

Key attributes of Wealth Management 2.0

  • Key characteristics: Consolidation of services into ‘financial supermarkets’, separation of manufacturing from distribution, rise of self-service
  • Key firm capabilities: Distributing and coordinating a broad array of products, eventually from multiple partners
  • Key client goals: Accumulation of wealth, rise of investment niches and specialists, philanthropy for the masses
  • Key advisor skills: Holistic financial planning, coordination of multiple specialists and strategies, sales  and ‘cross-selling’ skills
  • Key advisor activities: New client acquisition and expansion of existing relationships from transactions to fee-based business, dealing with the pressure of sales and cross-sell goals

Up Next: Wealth Management 3.0 (2008-?) Where do we go from here?