PCD Update. Charyl Galpin

Transcription

1 PCD Update Charyl Galpin

2 Our business is changing Convergence of technological, economic and demographic (TED) trends will transform the wealth industry Investors will have rising expectations and willingness to switch providers if needs not met Across all generations, segments and demographics Omnichannel interactions (mobile, tablet, online, Branch) Asset owners shifting from Baby Boomers to Gen X and Millennials Next 5-7 years, majority of wealth will be managed by women Requires us to drive a wide ranging digital transformation By 2021, TED trends will turn the investment advisory industry on its head Disrupting business models Reshaping client expectations Altering advisor roles

3 Advisor of the Future NexGen Wealth Advisor will need to be: Hyper responsive Highly emphathetic Digitally savvy Hyper sensitive to client expectations and behaviours 24/7 Greater professionalism, highest ethical standards and deep investment knowledge Fee-sensitive must demonstrate value add beyond asset allocation Humans still need to interact with humans Judgment, intuition and lateral thinking Personal relationships during the challenging movements that matter most

4 Client Experience Personal Wealth Group Client Experience Within 5 years 5X 2X NPS 60 Clients with >1 PW relationships Clients with PW/P&C relationships Loyal clients Nesbitt Burns Client Experience Today Private Banking Commercial NPS 29 13k potential clients 66k potential clients Loyal clients

5 Growth Stats Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 # of IA BMO-NB CIBC-WG RBC-DS ScotiaMcLeod TDWPIA TOTAL

6 Our Vision Our vision is to build an iconic brand anchored in our ability to provide a consistent experience to all clients. Our clients want: a. financial plans b. regular portfolio reviews c. consistent, quality communications Our opportunity to differentiate hinges on delivering that consistent experience to every client.

7 Transformation Branch Transformation Drive Sales Success Transformational Branch Growth Technology technology Collaboration Working Together Simplifying your day-today so you have more time to do the things that count. Helping you enhance your practice so you can accelerate your business growth. Leveraging the power of new technology so you have smarter ways to work. Partnering in new ways so that we have the best opportunities for our clients and our people. IA Advisory Council / SA Advisory Council / ROMs, BOMs / IE Brokerage Report Card / BMOPulse Changing the trajectory of PCD s growth through simplification, innovation and collaboration.

8 My expectations of you Grow your Branch Actively develop a Branch business plan Actively support IAs in developing their own business plan Meet your Branch goals as set out in your business plan Actively coach IAs on meeting theirs Implement foundational practice management discipline for your Branch Ensure SFDC competence Ditto for your IA teams

9 My expectations of you Lead your Branch Proactively and noticeably support the vision Hold regular Branch meetings 10 per year Achieve your BMO Pulse action plan objectives Proactively and noticeably support the BMO Employee Giving campaign Support your HQ partners including Ops / IT / Compliance Provide our leadership team with feedback all of it Proactively and noticeably partner with other BMO LOBs

10 Why I m excited about the future 2017 Digitization efforts will ease the burden and let us get back to the basics of growing our business Clearly tremendous growth opportunity We have most of what we need and we are the advisor of the future We are transforming how we do our business to meet the changing client expectations.

11 Q&A