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Your customers are evolving – change your ways! A message to private banking and wealth management

IMG_8119Hearsay Social was recently invited by The Financial Services Forum to attend an event where Mr. Robert Taylor of UK Financial Conduct Authority (FCA) was addressing the private banking/wealth management industry. Robert Taylor is the Head of Wealth Management and Private Banking Supervision at The Financial Conduct Authority.
The early part of Taylor’s talk focused on how the private banking world has not evolved to where the customers are and where they are going. He spoke about how most companies are still focused on finding and retaining the star relationship manager who the company believes will bring the clients. He cautioned that this model was not generating new clients or new revenue but instead is churning old ones.
To hear other key takeaways from the session, read the full post here.
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BMO, Scotiabank, Sun Life Financial LinkedIn, and Hearsay Social to kick off LIMRA LOMA Canada Conference with Innovation Summit

Today we are thrilled to announce that on Tuesday, May 7, ahead of the LIMRA LOMA Canada Annual Conference in Toronto, Hearsay Social will be hosting an Innovation Summit for financial industry leaders to discuss the future of financial services and relationship management in the social era.
This will be the second Hearsay Social Innovation Summit, you can see a recap of the inaugural event here:

With a keynote from Kevin G. Lynch, Vice-Chair of BMO Financial Group, former Clerk of the Privy Council, executives from top insurance and financial services organizations (including BMO Financial Group, Scotiabank, and Sun Life Financial) will join Hearsay Social and LinkedIn at the Fairmont Royal York to to talk social sales and marketing.

The disruptive forces of social media are changing the way financial services and insurance companies do business. With the growing availability of social sales productivity tools, these organizations cannot afford to be behind the curve; by participating in this event, participants are committing to exploring the cutting edge of technology.

Speakers include:

  • Kevin G. Lynch, Vice-Chair of BMO Financial Group, former Clerk of the Privy Council
  • Paul Regan, Head of Digital, Scotiabank
  • Michelle Smyth, Director, Social Media, Sun Life Financial (@michelle_smyth)
  • Michael Lock, COO, Hearsay Social (@michaelhlock)

Following the Innovation Summit, Hearsay Social and its partners will be attending the LIMRA and LOMA Canada 2013 Annual Conference at the same location, connecting with corporate leaders across the industry.

Register for the Summit today.

We look forward to exchanging ideas with innovators from around the globe, helping some of the worlds largest organizations identify opportunities to leverage new technologies and build relationships in the social era

Sallie Krawcheck at Hearsay Social Innovation Summit: Advisors are a key asset

We are so thrilled to host our inaugural Innovation Summit for financial industry leaders to discuss the future of financial services and relationship management in the social era. This afternoon event brings together experts across fields to explore the rapidly changing technology landscape available to financial institutions.

The event kicked off with a fireside chat featuring Sallie Krawcheck, former President of Bank of America/Merrill Lynch, Wealth Management and former CEO of Citi Wealth Management.

“We are at a very important time in the industry. We know where the points of weakness are but we do not fully understand where the strengths are,” Krawcheck said. “The strength of the client-advisor relationship isn’t only in good shape: among a good swath of clients, it’s in great shape.”
The number one reason a client leaves an advisor, according to Krawcheck, is that they didn’t return their phone calls fast enough. On the contrary, investment performance falls to #7 on the list. Therefore, enabling advisors to build and maintain relationships with customers is a key strategy, and business leaders must enable their advisors with technology to facilitate their productivity.