Financial Advisers’ Boot Camp Aims to Deepen Member Relationships
In an effort to expand member relationships and grow their credit unions’ bottom line, a group of financial advisers recently graduated from a year-long program to make it happen.
Those are the goals behind CUNA Brokerage Services Inc.’s Honors Academy. The program has face-to-face sessions, numerous webinars, self-paced online courses, homework assignments, accountability check-ins and a capstone-thesis project at the end of the training.
Twenty-six advisers recently graduated from CBSI’s inaugural Honors Academy class.
“The training is multi-faceted” said Hendrix Niemann, managing director of practice and wealth management for CBSI, the broker/dealer arm of CUNA Mutual Group. “Our advisors are held accountable for demonstrating they are using their new skills and knowledge on a day-to-day basis. That is how to bring fundamental change to their practices.”
The $533 million Freedom Credit Union in Warminster, Penn., has experienced a more than 25% increase in gross dealer concessions thanks to Brian Arrow, the adviser at the cooperative, said Anthony Silvi, vice president of financial services. Arrow is one of the academy’s newest graduates.
“The training has really crystallized his focus on efficiency and how his time is utilized,” Silvi said. “Brian has definitely become more effective in uncovering additional assets, building stronger relationships and turning prospects into clients.”
There are currently two additional classes of advisers going through the training and CBSI plans to have up to three concurrent groups participating in the academy each year.