Oppenheimer Funds Fosters Differentiation that Earns Sales

The Challenge

As an investment management company Oppenheimer Funds faces a crowded industry. With this crowding comes commoditisation. More managers are offering the same products. It became clear that setting the business apart from the rest meant offering customers a better experience through a consultative approach. This deeper engagement style was needed not only to form a better understanding of needs but also to develop much-needed trust from customers. Making this change “stick” would also require that managers become more effective coaches to help disseminate consultative practices. Reaching these goals would mean gaining broad-based buy-in, using existing technology and engaging a diverse field of Senior Adviser Consultants, Adviser Consultants and Divisional Managers. Oppenheimer partnered with Richardson Sales Performance to develop workshops enabling leaders to position their change story in a way that compelled direct reports to commit to the transformation.

The Approach

To deliver a customised training solution Richardson Sales Performance interviewed senior leaders. The goal was to develop an understanding of how to transition from a wholesaler to a trusted strategic adviser. Richardson Sales Performance then developed workshops enabling leaders to position their change story in a way that compels direct reports to commit to the transformation. Additionally, leaders learned to ask adoption questions to determine how and if behaviours were in fact changing. Oppenheimer Funds and Richardson Sales Performance understood that stated a need for change would not be enough. Rather, leaders need to articulate why change is necessary and how an individual’s goals connect to broad company objectives. Finally, leaders learned the value of follow through as they measured the pace of change and opportunities to verify progress on an ongoing basis.