Hi, everyone and thanks for joining us today. We'll be talking about how to turn a prospect into a client in one week leveraging Orion's Risk Intelligence platform. I'm Eddie Sempeck, National Sales Manager with Orion for the Orion Risk Intelligence platform. And I'm also joined by Phil calling. Thank you, Eddie, and happy to be here with everyone and reviewing the risk Intelligence platform and the prospecting piece that would provide. My name is Phil calling and I head up the business development side for the risk Intelligence platform with Eddie and the team. Today we'll be talking about a few things. First, we're going to give you provide an overview of the of Orion. I kind of give you an introduction if you're not familiar with who we are and help provide a little bit more about the background of why Orion Risk Intelligence. We'll also be looking at the prospect experience and how to really. Take it as a point of sale experience for you and and and working on that advisor client journey, we'll also provide an overview of some tips on how to really manage your meetings and the best ways to engage with the client and we'll end with some questions and answers as well with that. You know Orion's mission is really about helping provide you know technology that supports the advisor client journey and we do that by really providing a tech enabled. Process. We really believe that this tech enable process will help you better connect with your clients and provide more meaningful support in that Advisor client journey. The way that we build out and support the advisor client journey is defined by our fiduciary flywheel. We have 4 components to this being the prospect plan and Best Achieve. Each of these categories are generally areas where an advisor will be That defines the advisor experience. In working with a client, we've done our best to build technology and also connect technology that helps support this experience. More specifically on the Orion side of things, we've spent a good portion of our of our history building integrations and helping make sure that you have what it what you need in order to best support your clients. Some of this comes down through acquisitions as well. Orion has spent the past several years working on buying what we would define as best and breed experiences. And what we're working on then is, is taking those experiences and helping connect them as seamlessly as possible within that advisor client journey framework. Some of these do involved technology, but others also involve investment services. What this really allows you to do is to broaden your support and offering to a client while still maintaining the foundation of that client relationship. Orion is comprised of multiple companies, but at our foundation we have over 1500 team members helping support you in that advisor client journey. Through our CRM technology provided through Redtail Technologies, we have over 110,000 users which comprises over 19,000 firms. On the core Orion tech side, we have over 2300 independent firms operating within the Orion technology ecosystem. What this means for you is that we have the experience to not only bring in and reconcile your data, which is a core foundation of Orion, but we also have. The a lot of different feedback that we can receive and help build out and continue to connect that that journey process for you. So what we've done through our acquisitions as well as partnerships is we've really done our best to combine all of these solutions under one roof. This can be through reporting needs, marketing and prospecting needs as well as risk and compliance. We also offer as I mentioned earlier, an expansive solution around investment management support, but not only that, engaging you or helping you engage in a cash and credit environment when your clients have needs that might fall outside of the general kind of day-to-day expectations around that advisor relationship. So really what this means is that as that client is going through their various life changes or life needs, you're able to be there as a partnership with them, helping support them through those various moments in their life. So this really brings us to what our main focus is today. What is Orion Risk Intelligence? So when Orion risk Intelligence was formerly known as hidden levers. As part of the Orion brand of families, we had renamed or rebranded the Hidden Levers experience to Orion Risk Intelligence not that long ago. But really it it fits a much more important component about what it does. Really it is a advanced risk analytics platform that helps you from point of sale model management and firm oversight as you consider all the risk components. And how that might impact not only your individual client, but also all the way up to how this will impact things such as revenue and the broader portfolios and models that you're managing. It's a very turnkey solution. So instead of having you go and try and combine data from various applications, we've really centralized a lot of that and hopefully simplified that process for you. Really enabling you to have more time focused on your clients and helping build portfolios that will ultimately achieve their goals as they define it. With that, I'm gonna turn it over to Phil Calling who will provide us a tech demo of the prospect experience within Orion Risk Intelligence. All right. So now what we're going to do is we're going to go through the prospect workflow that we had built out within the risk intelligence platform. With this workflow, it's really taking you step by step through that process of getting a risk or entering in that prospects holdings and then creating a recommendation that best suits this particular prospect when it comes to risk. And then from there creating that proposal that's going to be personalized to them in order to bring them over. The first step is a risk score, and using our risk tolerance questionnaire, we have three different ways to go about doing that. One of those is we can set that manually. If we already kind of know where they're supposed to be, we can e-mail it out to them for them to be able to take before they even come in to meet with you. Or we can take it with them in office now with our risk tolerance questionnaire, I always like to hit on this as ours is a little different as it adds in that behavioral piece to get you to a more true risk score outside that behavioral piece. So we do have the risk capacity and risk tolerance pieces. Those are going to be pretty standard out there where risk capacity focuses on that time horizon and what are their goals. Risk tolerance is going to focus on really how much risk can this prospect take before it's too much? And then for the behavioral piece or what we consider risk composure, that is really looking at what would this person do during a volatile market? Is this going to be someone that is going to be reaching out more frequently or is this going to be someone that's going to ride that wave in those volatile times? Once we have that risk score out there, that's where we're going to be able to come in and enter in their holdings. Now to enter in holdings, we can either do that one by one or we can copy and paste from an Excel spreadsheet right into the platform, making it very easy to do. So if we're using this workflow with an existing client, then that's where we're using our integrations out there. We can bring in all those holdings already for you to take away any of those manual processes. Once they're holdings and risk score out there, we're going to be able to now see where does this prospect or this existing client live compared to where they should be. As we can see here for this prospect, they're currently at A50 for their holdings with a risk score being a 64. And so now with our workflow, we're able to go in and create a recommendation that best suits them on where they should be from a risk standpoint. When creating that recommendation, the first thing that we're always going to ask is, do they have any legacy positions out there that they have to hold on to? If not, we can just skip right over that section there and then we're going to be able to see all those models that you're bringing into the platform. Once we have those models out there, that's where we're going to be able to come in and pick and choose which model do we actually want to use for this prospect and we can either go in and say 100%. Of this mall to this account or we can take a more customized approach and start blending those malls together to create an even better recommendation of a 6040 blend. At that point in time, once we've created that blend, now we can come over here, we can actually see where is that blend versus their risk score versus their actual holdings today and then we can create that recommendation right on screen. When we've gone through those three steps there, now that's where we're really ready to go out and create a personalized proposal for this prospect and show them why you're making that recommendation and why that best suits them compared to what they're doing today. And so with our proposals, you're going to be able to come out and create different templates out there depending on the different types of prospects that you're going to be working with. With those templates, once you select that, you can then go in and this is where we get to that more personalized approach of picking and choosing what sub reports truly tell the story that we're wanting to get across to that prospect in order to bring them over. And so we can start removing different sub reports within here as well as moving those around. The other piece is the ability to pick and choose scenarios and with our scenarios. We are building out new scenarios for you each month. A lot of these scenarios are really going to be based off of what are the major headlines the prospects are seeing out there and what is top of mind for them or what are some of their major concerns. And being able to add in those different scenarios, whether it's possibly another 08 happening again where we can show it good, bad and ugly to that. And so we can start digging into what does each level of that scenario look like. Once we've selected our scenarios and our sub reports that we're going to run, then that's where we can just go out and we can generate that proposal. Now with our proposals, it's really nice because you do have the ability to have a custom cover page out there as well as being able to brand each proposal to your firm. From there, we have multiple sub reports as you saw previously that you can pick and choose from whether it's showing the survey question answers being able to go in show the different account summaries. But the main pieces I really want to focus on here today are going to be what are we moving them into versus what they have today, which is what we're seeing here on screen. But then also why? Why are we looking to make this move for them? And so that's where our sub reports really focus on where we can go in. We can show those scenarios and how each portfolio could react to each of those scenarios. We can also go in and we can show those different risk stats. And this is another area of our proposals where we just try to make it very easy for a prospect to understand what they're looking at, where we're going to provide their downside versus expected five year return. In a percentage but also a dollar value. And then also highlight those different risk measures that were running out there for them and showing which portfolio is doing better in which area. From there, we do have some hypothetical reports that we can show, but then a big one for your prospects is going to be this expense summary page where the expense summary page really allows you to go out there and if they're working with another advisor, show what that fee is versus yours. And then also break out of the expense ratio between the two having the total fees show and then a break out of here's your current holdings on the fee range versus our recommended holdings on the fee range. Then the last piece with our proposals is we do have an integration with Morningstar where we are able to bring over the Morningstar style boxes in a very easy to read manner for your prospects, so we can show that equity style. Sector as well as geographic analysis. And then we can do the same thing on the fixed income side. And again with these proposals very much able to go out there and personalize them to each prospect picking and choosing from these sub reports, what's going to tell that story best and then be able to provide that over to them. Outside of that we do have some onscreen presentation tools. That you would be able to use within the platform as well with those onscreen presentation tools. It's really taking that proposal, putting in on screen and then allowing you to put on a TV monitor or do a web share with your clients and just going side by side on why you're making that recommendation. All right. And so now we're gonna go back to Eddie, who's going to dive a little deeper into the behavioral finance piece and how you're able to utilize that from a sales standpoint. Well, thanks, Bill, for that excellent overview of the technology. And you know, we know that part of this experience is not just about technology. You know, one of the, the key objectives is helping, you know, empower you to have better and more meaningful conversations with your client. And the conversation around technology is a key component of that, but it's not the only one. So what we wanted to cover was a bit about the sharing proposal aspect and what what to expect is in those meetings. So Doctor Diana Crosby, as Phil had alluded to earlier, helped create or was the creator of the 3D RTQ, effectively incorporating a behavioral component into that questionnaire. And we'll get into a little bit more about the importance of how we can leverage that in our conversations. But really Doctor Crosby has spent a good portion of his career trying to figure out how to help advisors have more meaningful and engaging you know, conversations with their with their clients. And so the outline that we're going to go through is really something that Doctor Crosby had put together and I will hopefully help you guys have a more in in meaningful discussion leveraging the technology and helping you ultimately. Win the business from that client. So when we think about having a successful conversation, we're really talking about creating opportunities to differentiate yourself and your firm with that client. So ultimately this comes down to a few key things, right? Obviously coming prepared, having a framework for a discussion and ultimately using the documents and the data to help guide your conversation. These are all important things. But additionally, it's also important to note that we need to give time for the client to share. So we need to be prepared with questions that we want to ask and ultimately personalizing the conversation so the technology can help you personalize a lot. It gives you a better framework for understanding how the client will react to certain conditions based on the risk tolerance questionnaire that you had them take. It can be personalized through the portfolio selection that you provided for them and it can be personalized through the report outputs and ultimately the inputs that you put into that. And last is also leveraging additional technology to help further that conversation. We'll close on that topic here at the end of these points. So with that, doctor Crosby really says that the key to to establishing a more successful relationship with the client is to first start off with empathizing. It's important to note that although we are used to these conversations all the time, for many of these clients, they're not. These are big conversations that they're they're having. And in some conversation or some situations, these weren't successful in the past, right? Maybe they have spoken with with somebody and it didn't go well. So they might be hesitant because they didn't feel like. You know maybe the advisor in the past was working with them, they were trying to sell them and so that's a that's an important point to to consider and empathizing. We want to slow down, we want to ask more questions. This is really about digging in and and and working with the client and helping helping them understand you know that that you understand how they feel and that that they're not alone. One of the nice things about this is that you can also reference the 3D RDQ, maybe not directly with them but. In that behavioral component, it will give you better insights to how the client will react to certain situations. So ultimately giving you a better, you know, maybe guide or compass and how to direct the conversation. And I also think it's important that we pause periodically and check in on comprehension. You know, often times you know the financial services industry can have a lot of new language, a lot of new lingo and some ensuring that the client understands what you're talking about. So and so that way they feel more comfortable in that in that process. Next step is normalize. We want to be able to after we've heard and listened to the client, we want to be able to affirm their feelings and that could be through sharing stories you know about maybe your current clients situations that they've gone through helping make sure that they that you you understand where they're coming from that they're not alone in that process. The other thing that can be helpful, and this is something that the technology can help with, is as the client is expressing concerns about maybe they're coming close to retirement and they're concerned about another O 8 or maybe another market crash that might happen as a result of the pandemic. Those types of situations can occur and. You know being able to stress test their portfolio recommendations that you're providing and showing them the impacts that you know these are top of mind things and you're you're you're leveraging technology that will help you better mitigate, you know portfolio losses. Those are those are important things to helping normalize the conversation. The third item is really having a purpose. You know, one you you have an understanding and you're able to gain an understanding of the client's purpose, but also having the ability to relate your purpose back. Often times when those two purposes align is when we have a really solid and trustworthy experience with with our counterparts. And so you know, ultimately people want to be understood and they want to, they want to feel like you're you're in that journey with them And so having that purpose aligned is really a key thing. And so that purpose doesn't necessarily just have to be, you know, from a politics standpoint, what we're really talking about is having a purpose for that portfolio. You understand their goals and objectives and you're there to help them to align with that. Ultimately, that's your goal is to make sure that whatever you're putting, whatever you're doing or putting in front of them is going to be there to help support their purpose in their life. Often times we start with feelings, so as we get into the the proof item. You know all of us start with feelings and then we get into the data side of things and so having proof is a key thing about building trust. So once we move past our feelings and you know we understand like hey we're on the same page, you understand me, we've you know the empathy and the and the normalization has has occurred. The next is coming in with with the the proof and helping them make sure and understand that this is not something that is just a one time occurrence. But that will have an opportunity to continue to review their portfolio as you know, not only the days, months and years go on, but also as you're engaging in other meetings with them. And last I'll say is the process you know in terms of building and establishing that relationship and then moving it forward is having a process this comes through clearly or communicating with them what's going to happen when they become a client. How you're planning on continuing to not just have this be a one and done, but then how you're planning on reviewing and ensuring that their current investments are meeting their needs and goals. So it's also important to provide them a clear outline of when you're going to communicate with them and most importantly is. Keeping to those commitments. So if you know as we work with, with an individual, if we say we're going to get back to them and you know next Wednesday, then we do get back to them on on that Wednesday and not let them you know have that have that you know initial reach out go undone. So as we've had an opportunity to wrap up the presentation we we appreciate your time. We are confident that you were able to not only get a better understanding of how the risk intelligence platform can help you in the technology aspect and working with your clients and prospects, but also in the behavioral side. We're confident that as you engage in these processes and behaviors that you will be able to win more than your fair share of of of clients. With that we are going to take some questions. And we'll answer some of those live as you're you know maybe listening to those questions. Feel free to to access the contact more or contact us form which will allow you to schedule some time with us if you have any additional questions that you want to cover. one-on-one with that, Phil, why don't we go ahead and and work through some of these questions that that we've been receiving. Let's see here. One question that came in, and this was earlier during the proposal review is, are we able to customize the proposal? Yeah. So with our proposals, you can definitely have a custom cover page with your Brandy out there. However, when it does get into the meat of the proposal, that is going to be more of a personalized approach where we have prebuilt sub reports for you and with those sub reports you can make some tweaks and changes to them that are already provided within the system. However, it's not going to be a full custom proposal from that standpoint, but definitely does allow you to get into that personalized approach. Awesome. So that's good to know. I mean I think it's you know we're talking about hypothetical returns and information and such. You know there's there's important rules that we have to follow from a regulatory standpoint. So that being said, you know personalizing the content is, is it really a key important component to this making sure that that your clients and or your prospects information is is well portrayed. In the in the reporting, so 111 question came in is about the behavioral questionnaire. So is that the only questionnaire, the the 3D RTQ, is that the only questionnaire that's available Phil or are there other options that they can use? Yeah, that's a great question within our platform and what we provide it is going to be our 3D risk hall, it's questionnaire. However, for those firms that maybe they've gotten out there and they've built out their own questionnaires that they have been using or are wanting to continue to use, it is something that we can bring into the system. Now with that, I always like to state you do have to provide us with your scoring methodology in order to know that had that be a complete product within the system, you still have the ability to send those out via e-mail as we had discussed with our Risk Tolerance Questionnaire. So you can go both routes. It's just dependent on really what, what's best suited for you and your firm and how you work with prospects and clients. Awesome. And I think we'll answer one more live and then we'll kind of just go to the answering just via text on the Q&A side. But the question here is, can I bring my own models into the system? That can be then used in like recommendations or you know, other other purposes. Phil, do you want to do you want to take that one too? Yeah, definitely. When it comes to models and recommendations, those are all going to be your own. With Orion users, we're going to bring those models in for you from the Orion platform. However, outside of that, it you'll need to go out there. It is manual input. However, it's a very easy manual input as we do have a file upload. Or just like you can for entering A Prospects Holdings, you can go out there and you can just copy and paste right from your Excel spreadsheet into the platform with your models and easily build those out. You can also build out a brand new model on the fly during that recommendation process as well. So if you know that you're working with say, a ultra high net worth client and you're needing to create that personalized approach even from a recommendation standpoint. You may have models out there today, but you know with this prospect they need something different. You can do all that right within our platform either within the workflow or just building out that model from our home screen dashboard. Great question. Yeah, I think not to it actually kind of teases up for the next, we are planning on doing a webinar about how the technology can be used for. Your investment team or you as an advisor managing models and kind of staying on top of those changes that might need to happen. So that will be a future webinar that we will actually cover model management within the platform. So great question and that So I think what I would just encourage is if you have any questions that you'd like to continue to ask, Phil and I will stay on for the next few minutes. Answering any questions just through the Q&A feature if you have. If you're interested in seeing maybe a personalized demo of the platform and and understanding a bit more about how it can help support your business, I'd encourage you guys to to use the link down below. There's a link to our contact us page and there you can fill out some just name and and contact details and a member of our team will will reach out to get get a call scheduled. With that being said, Phil really appreciate the time coming on as well help him provide a demo and we like to say thanks again to everyone for joining us for the past few minutes. Thank you. Thank you everyone. _1719297128561

Help You Sell Series: Turn a Prospect into a Client in One Week with Risk Intelligence

Advisors today are facing tougher questions from prospects. With all the macro uncertainty, you're put on the spot to answer the big "what ifs" from your very first meeting. How do you effectively showcase your firm's value while also addressing broader economic concerns? In this webinar you’ll learn how to: 

Access to the services presented is provided solely as a service to financial advisors. Orion Risk Intelligence does not make recommendations or determine the suitability of any security or strategy. Past performance of a security or strategy does not guarantee future results. Orion Risk Intelligence research and tools are provided for informational purposes only. While the information is deemed reliable, Orion Risk Intelligence does not guarantee its accuracy, completeness, or suitability for any purpose, and makes no warranties with respect to the results to be obtained from its use.