RBC Wealth Management – US has unveiled a new, customisable practice management program designed to help individual advisers and adviser teams ‘grow their business, improve their quality of life and maximise their potential’.
“We understand that every adviser’s journey is unique,” says Nate Angelo, head of Wealth Management Consulting at RBC Wealth Management – US. “Our goal was to create a practice management platform that is tailored to each individual or team and meets the needs of advisers at all points of the financial adviser lifecycle.”
The program offers customised digital resources, a high-touch delivery model and coaching tailored to help advisers and teams assess their current state and develop a roadmap to guide them to where they’d like to go. Those resources are tailored to each adviser, using a new online practice management assessment tool that comprehensively evaluates an adviser’s business in less than 30 minutes with a series of unique questions tailored to each adviser’s specific responses. The assessment provides advisers and teams with a benchmark to compare against other successful practices and discover gaps that are preventing growth. Following completion of the assessment, the online tool generates a customised action plan to help the adviser and coach achieve their identified goals and objectives.
“The new online resources and coaching enable us to meet advisers where they are and get them beyond where they thought possible,” Angelo says.
In addition to the online resources, five dedicated coaches, with a combined 100 years of total coaching experience, will help administer the program across the firm’s US footprint with custom one-on-one coaching and consulting designed to help refine their practices. The program also offers group training in the form of affinity/cohort adviser groups and workshops.
Together, coaches and the online program resources will help advisers and teams tackle a variety of topics, including business planning, client service models, scalability, defining responsibilities and building a healthy team.
“This new practice management team will use a fully consultative approach to help each one of our advisers strengthen their business in multiple ways,” adds Angelo.