Grow your business with FundsAtWork Francois de Ravel
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Transcript of Grow your business with FundsAtWork Francois de Ravel
Grow your businessGrow your businesswith with FundsAtWork FundsAtWork
Francois de RavelFrancois de Ravel
Grow your business withFundsAtWork
A unique opportunity togain insights into growing
your group portfolio
Momentum view
25 30 35 40 45 50 55 60 65
Retirementannuity
Wealth
Myriad Wealthannuity
Multiply
Health
FlexiCovers
age 20
• needs • financial sophistication• income
Employee benefits
“Why was I able to write 81% of my retail business in 2009 from my
FundsAtWork book?”- Mark Daniel
Challenges financial planners share
• Easily sell business once the opportunity to present exists• Generating new opportunities – leads • Always have capacity to take on more business• One thing leading to the next...
All this can be achieved while building up a recurring book and it is easier than you think!
How to generate business from business
• When approaching an individual for the first time• Medical via wage bill – Financial Officer?
• When approaching an entity• New scheme, at no cost – reality• Existing scheme
Normal leads: retirement, resignations, new employees et cetera but also...
Service Level AgreementStatements, one on ones, legally required to see client!
No client exist who don’t want to talk about his / her pension and this is the real lead!
Financial planning for employees?
• Everything is on the FundsAtWork statement• Get 30 new appointments a month coming your way
automatically
Other benefits
• Easy appointments, not a new expense• Ring fence clients• Captured market – new appointments, staff turnover %• A FundsAtWork client is a client for life
Grow your business withGrow your business withFundsAtWorkFundsAtWork
Retirement benefits
Insurance benefits
plant. nurture. prosper.
Jenny Mc Guinn example:
“Show me the MONEY!!!Ok – I’ll show you the money, but you’ll have to go get it!!”The title is “Show me the money ,and not give me the money!”
plant. nurture. prosper.
Example
• Boost your business income by approximately R700 000 over a two year period;
Assumption:1000 x Pension/Provident fund members over two years;
• This is 20 x 50 new members over the period or a mixture of fund size;
• Average Myriad premium (CAO) R700-00 p.m.Retaliation potential:5% of client base will exercise CAO;10% of client base will preserve on withdrawal;Average scheme API R500k per scheme.
plant. nurture. prosper.
Legislated commission scales
• 5% average for first R500k applications = R25000 x 10 (on first year) = R250 000over next two years = 50 x 8400 = R420 000;
• Conversion of 100 x R 10 000 preservation = R25 000;
R 250 000+ R 420 000+ R 25 000 R 695 000
plant. nurture. prosper.
What are the opportunities
1. Compulsory !!!!2. 30 000 smme’s / 3500 000 members do not have funds;3. We have definitely five years to revisit the way we do
business (10+ years for stepped implementation)– Target market – ex (financial sector);– Ring fence clients;– Top-up - a must
plant. nurture. prosper.
Exiting opportunities
• We address a “need” and not a “want”;• Professionalising the industry;• Holistic financial planning- This is indeed client centric!• Should not fear regulation- they reinforce the need for
professional advice;• Examinations-truly professional;• Market changes - Just the way the world is moving.
plant. nurture. prosper.
Exiting/cont
• “Solution to most problems lies in simplicity”• Approach everything from this angle!• Concentrate on value based advise/sales;• The intermediary has a big role to play in the future and is
therefore key (KING) going forward.
Thank youThank youNgiyabongaNgiyabonga
DankieDankie