We reached out to some of the previous winners from our Top Program Managers raking and asked them the following three questions: 1) What are the biggest challenges in being a program manager in the bank channel today; 2) What are the biggest changes youve seen as a program manager over the past two to three years; and 3) Whats your best piece of advice for rookie bank advisors? Here we present the best answers (edited for length and clarity.)
Britt Woods (Fifth Third Bank, #1 in 2013) Challenges: Regulation and compliance. Our advisors have more scrutiny than ever with documentation and regulations. It is an ever changing industry and getting strong type A personality advisors to embrace it is always a challenge. Changes: Less bank traffic inside our branches. We have seen a 10% decline in bank transactions. Banks are doing a good job training our clients not to come in the branches. Advisors have to understand that we need to drive appointments since this is happening. Advice: Integration with the bank is crucial. If a bank feels that an advisor really wants to be on the team, it will refer clients more quickly to a rookie advisor. We are a guest in the retail branches and the faster we integrate into their team the advisor will be set up for success.
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