Presented by: Cindy DiBiase Vogl, CFS

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Using Online Education to Increase Revenues and
Employee Confidence

• Presented by Cindy DiBiase Vogl, CFS
• President/CEO
• NFC Consulting Group
• [phone] www.nfccon
  sulting.com

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NFC Consulting Group

• Established 1986, based in Chicago
• Distribution Strategy
• Product Design
• Continuing Education Training
• Industry Research
• Providing Insight and Guidance to
• Financial Service Organizations

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Training Continuing Education

• Certified CE provider in all states requiring
  insurance continuing education
• Courses approved for insurance, CFP, NASBA (CPA),
  PACE (CLU/ChFC) and NASD firm element credit
• Offering classroom, self-study and internet
  content
• Comprehensive administrative services

www.nfcce.com
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Non-CE Training Programs For

• Licensed Investment Representatives
• Non-Licensed Branch Employees
• Debt Cancellation Products
• Other Specific Needs

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The Challenge

• Creating or maintaining an investment program
  that
• Is beneficial to customers and utilized by them
• Adds revenue to the bottom line
• Helps deter disintermediation
• Is fully compliant

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Potential Stumbling Blocks

• No senior management support
• Incorrect employee selection
• Poor training
• No goal setting
• Incorrect rewards/incentives

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Who Needs To Be Trained?

• Licensed platform and dedicated representatives
• CSRs and other non-licensed employees

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Why Provide Referral Training To Employees?

• Improving referrals to the investment sales
  staff can also help stem disintermediation of
  deposits.

The Impact of Bank Investment Sales on
Disintermediation of Bank Deposits, Kenneth
Kehrer Associates, Princeton, NJ, Jan 2002.
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What Do They Need to Know?

• Non-Licensed Branch Employees
• De-mystify what licensed sales reps do and the
  products they sell
• Develop willingness to make referrals
• Gain confidence and proficiency in making
  referrals
• Reinforce what can and cannot be said
• Standardize format so branch manager can track
  progress
• KEEP IT LIVELY AND FUN!

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What Do They Need to Know?

• Licensed Platform Dedicated Reps
• Identify new investment sales opportunities
• Turn newly-licensed salespeople into more
  proficient salespeople
• Sell more annuities and mutual funds!

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Why Use the Internet for Training?

• People learn in different ways
• Leverages face-to-face training time in a cost
  effective manner
• Reinforces important concepts
• Consistency of message
• Learners access content either when its
  convenient or just in time
• Gets them referring or selling faster!

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Benefits of Online Training

• Cost
• Consistency of content and message
• Monitored progress
• Convenient access to learners in multiple
  locations

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Why Use the Internet for Referral and Platform
Training?

• While it cant replace the personal touch,
  online training definitely has a bright future,
  both because of what it offers credit unions in
  return on their investments and to employees for
  their personal growth.

Credit Union Times, January 2002
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Potential Challenges of Online Training

• Technology requirements
• Relevant content
• To test or not to test?
• Monitoring progress
• Measuring results

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DemoNon-Licensed Branch Employees

• Introduction to Alternative Investments
• Referral and Prospecting Skills

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Non-Licensed Branch Employees
Lesson 1 Introduction to Alternative Investments

• Topics
• What is a Fixed Annuity?
• What is a Mutual Fund?
• What is a Variable Annuity?
• What is a Bond?
• What is a Tax Free Bond?
• What is Diversification?
• Understanding Compounding Inflation
• What is Dollar Cost Averaging?

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Non-Licensed Branch Employees

• Lesson 2
• Referral and Prospecting Skills
• Topics
• Why Make a Referral?
• How to Make a Referral
• How to Handle Objections

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DemoLicensed Platform Dedicated Reps

• Products
• Fixed Annuities
• Variable Annuities
• More to come
• Concepts
• Retirement
• Annuity Basics
• Taxation Issues

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Licensed Platform Dedicated Reps

• Skills
• Prospecting
• Profiling
• Presenting
• Handling Objections
• Closing the Sale
• Structuring the Contract
• Completing the Paperwork
• Compliance Issues

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How is Knowledge Transferred?

• Pre-assessment
• Real life learning objects
• Instructional design approach
• Reps learn by interacting and completing
  activities
• Instant feedback
• Monitored progress

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Colorado East Bank Trust

• Presented by Chuck Snow
• Registered Representative

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Colorado East Bank Trust
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Colorado East Bank Trust

• Founded December 1994 in Granada, CO
• 27 million in assets
• Population less than 5,000
• Today Largest Bank Group in Southeastern, CO
• 300 million in assets
• 7 branches
• Expanding into Kansas

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Colorado East Investments

• Added to the Bank in 1998
• Full service investment department
• Stocks
• Bonds
• Mutual Funds
• Annuities
• Asset Management
• Three Licensed Reps
• Three Assistants
• 40 - 50 million under management

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Talbot Financial Services

• BSA Conference in 2001
• Added Platform Program in 2001
• Good Initial Sales
• 2.6 million in 1st year
• 100,000 plus commissions
• Helped balance through decreasing market

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Previous Training

• Typical Bank Cross-Selling Training
• Common sense courtesy
• Bank products emphasized
• Lack of Investment Knowledge
• Those other guys
• High risk investments
• Fear factor

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Instant Intelligence

• Time Savings
• Serious Agents
• Investment Awareness
• Increased Referrals
• Higher Comfort Level

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