Client Relationships | Financial Services | Richardson

Wealth Management Case Study: Deepen Relationships and Better Capitalize on all Opportunities


Our client is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance through more than 11,000 stores, 12,000 ATMs, the internet and other distribution channels across North American and internationally.

Business Challenge:

Our client is undertaking a transformation that will change the way the firm approaches clients. In order to do this, they needed to break away from a “private banking” culture and create “future state wealth managers”. They recognized the need to ensure that all Sales Professionals were on board with the new vision and direction of Wealth Management, and able to communicate a consistent message about the new Wealth Management value proposition. The team members involved in this training were Relationship Managers, Wealth Strategists, Product Specialists, and Managing Directors.


To create a new sales culture and become one of the top five wealth management firms while doubling its revenues in that same period.

The Richardson Solution:

In order to deepen relationships and better capitalize on all opportunities for our client, Richardson developed a two-day Team Selling seminar that emphasized using a Consultative Selling approach in all types of client interactions. Additionally, Richardson designed a seminar on Coaching the Team for Managing Directors and Regional Managing Directors, that focused on coaching applications centered on aspects of the sales process covered in the Team Selling seminar.

The Team Selling seminar included customized role play scenarios that involved moving beyond the initial need, to identify a range of needs that our client could address. The scenarios positioned our client as a value-added wealth manager, and leveraged the full resources of the Wealth Team to meet the client’s total needs. Moreover, the seminar highlighted how to apply the Sales Framework and Six Critical Skills in all client interactions, including Client Assessment Meetings.

The Coaching the Team seminar incorporated a module dealing with creating change in a sales culture. Furthermore, Richardson led discussions on ways to reinforce the vision and direction of the organization in team meetings and coaching dialogues to help in our client’s goal to communicate a consistent message about the new Wealth Management approach.


Our client’s objective to deepen relationships and fully capitalize on all opportunities was fully met through Richardson’s training. The Managing Director says that our client won an increasing number of deals using the Richardson training to “keep our team focused on delivering a consistent sales process and framework to expand relationships with emphasis on utilizing the specialists we have on our team. The practice we got in the training refocused my team and reinforced the skills needed to win competitive and difficult sales opportunities. We are winning deals and gaining confidence in our sales process and in our teammates. Our team is finally feeling like we SHOULD win every time out. As a managing director, that is a great thing to see!” 

As a result of the Team Selling training program, our client experienced immediate and significant improvement to their business including:

  • A total increase of $125,000 per salesperson
  • A total company increase in revenue of over $50 million
  • A return of $192 for every $1 dollar spent on training 

Additionally, our client took what they learned in the Richardson seminar and made it work for them in the following deals:

  • Physician Prospect. WON: $52,000 Insurance sale, Planning commitment, $2.1 million TIM commitment, $1.1 million loan sale.
  • Skeptical CPA representing three Wealth Families with $200+ million in combined assets. WON: $5 million initial loan, Introduction to one of the other families

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