Financial Analysis Techniques for Client Acquisition and Retention (FATCAR)
The Financial Services Industry is a highly competitive segment and financial products offered by Financial Institutions are extremely competitive – they offer similar types of products which are also very competitive in terms of pricing structures. Therefore, it is important that Financial Advisory Representatives (FARs) can differentiate themselves effectively in terms of their competency and value proposition, rather than compete on carrying the most competitive products. In fact, many FARs who carry their value proposition as “helping their clients source for the most competitive product” often get utilised for that very purpose – and not necessarily get the business because the prospect can always buy from someone else who carries the same product. This begets the question – how does a FAR create a strong value proposition, increase their conversion ratio, strengthen customer loyalty while building a strong entry barrier against another competitor?
Personal Financial Analysis is the fundamental process that all FARs must adopt in their practice management to differentiate themselves from competitors, gain the trust of the client and help them gain a higher level of self-awareness about their financial circumstances and identify scenarios that could threaten their financial security, and take targeted measures to improve their current situation and reach their financial goals and objectives.
Financial Analysis Techniques for Client Acquisition and Retention (FATCAR) is a course that every FAR must attend. The field-tested principles, analysis and practice methodology and client engagement frameworks will enable FAR to identify and improve their client’s financial position while maximise the business potential to create a win-win proposition. Applying the principles will significantly increase the level of trust and credibility the client has towards the FAR, which in turns generates referral and recommendations.
The Financial Analysis Techniques for Client Acquisition and Retention (FATCAR) program can help FARs get ahead of the competition and create significant value-add for the client. FARs will be equipped with the competency and skills required to compile a set of personal financial statements for the client and apply a framework to engage the client to uncover opportunities for cross-selling and up-selling. Through this course, FARs will also learn techniques that will help them set up a framework for analysis that significantly increases closing ratio and maximise case sizes.
This is a field-tested and hands-on program whereby attendees will be given case studies and planning scenarios that will enable them to apply the principles and frameworks in real practice situations. A set of web-based apps will also be provided for use to help learners apply what they learned immediately with their clients.
- Understand the significance of financial statement analysis in helping clients meet their financial goals and objectives
- Be able to apply the client engagement framework to create multiple openings during the initial client meeting
- Understand the value of personal financial analysis and be able to create a set of statements for the client
- Understand the frameworks and processes for financial ratios analysis
- Be proficient in analysing and contextualising financial ratios
- Combine financial ratios and SWOT Analysis principles to uncover issues that needs to be addressed and create a strong basis of recommendations
- Assess the depth of a client’s financial situation through multiple scenarios and proforma analysis to maximise opportunities
- Be able to create multiple cross-sell and upsell opportunities
- Be confident and effective when facing wealthy client and business owners and generate opportunities using the engagement frameworks
The knowledge and skills will be delivered through:
- Structured lecture
- Case studies with discussions
Duration of Course: 1 Day (7.5 Training Hours) + Certificate of Attendance
Course Fee: *Special Price* for Corporate Students: Call us to find out!
1) IBF-FTS funding (must pass assessment for claim) - up to 90%*
OR 2) Skills Future Credit – up to S$500 credits*
* 90% funding is applicable for Singaporean aged 40 and above. 50% funding is available to all other qualifying applicants. Term and conditions apply. Please refer to the official website for full details.
Course Facilitator: Mr. Ronald Wong