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Jul 17, 2009 11:13 pm

For the few of you guys out there at AMPF, what do you use to set and track clients in SPS? Our firm recently acquired another office and we are trying to get everyone transitioned to and ready for all the new stuff rolling out. At the moment I am setting and tracking SPS activity (required contacts and appointments) on paper. Any ideas are greatly apprecited. I will have more questions as we get everything up and running.

 
Thanks
ND
Jul 19, 2009 2:33 pm

We do quarterly meetings with all our clients, and we know that during the 2nd quarter (Rebalancing) and 4th quarter (Tax planning for NQ accounts) we're going to take a look at everyones account.  If they're already in SPS then we'll put together a few recs on paper for rebalancing/changing funds and if they're not in SPS we'll analyze why.  Right now we're taking everyone who's in SPS thats under $75,000 and putting them in Active Diversified Portfolios.  Gives them the activity they need, minus the cost of ticket charges for us.

 
Is this along the lines of what you're asking for?
Jul 19, 2009 6:53 pm

Thanks for the reply 3rdyrp2. We are doing pretty close to the same thing with a little different in amounts. We are also going to add a tactical portfolio for those with larger accounts and requiring more activities. We have 1300 households with the two offices combined and are trying to develop an efficient way to structure our business going forward. The first issue I am trying to approach is a separate "program" of some way to keep track and make sure all contacts in SPS are checked and double checked. I would like a program that lists all SPS accounts separate and tracks the required contacts etc. I am still in the brainstorming stage and probably should not try and re-invent the wheel.

Jul 20, 2009 10:05 am

How many advisors/AFA's do you have on your staff?  Or how many households per advisor are being serviced?  We have a 3 man staff working on roughly 200-250 households, so its a little different and less complex from a numbers perspective than you.  If you have a good client service coordinator I would have her go into Contact Manager and on a weekly basis put 10 clients on Tuesday or Wednesday's calendar (or whatever day you have the least going on) and first thing in the morning when you get the Contact Manager alert take a look at those 10 clients that are on the list and check their OLB activity.  It'll take 20 minutes and if there are any that stick out to you as needing to get some trades done have your CSC call them up and either schedule a phone call or put it on the agenda if they already have a scheduled meeting coming up.  One of the things we've really done a good job of this year is utilizing Contact Manager.  Its tough to get used to at the beginning but once you know how to use it right, it will be a lifesaver.

Jul 20, 2009 10:42 pm

Thanks 3rdyrp2.

 
We have 10 AFA's (two in training transfer stage). I am not sure how many households each AFA has, all I know is how many I had. I let many go to one of the newbs to free up time for me to wrap my head around these changes. I am taking a small management role with the merger. I will continue as an AFA but I will also assist and manage two planners (one at each office), one trader (at initial office) and the new office (were I am now). The offices are an hour apart so I can't very well drop by the other and check on things. I have not been with Ameriprise very long so I am still getting use to all their programs. Right now I track all the plans on a large desk calender( but it works). I will probably make some kind of spreadsheet later. I was just curious if anyone else could suggest a more efficient way. Like you said with Client Manager, I think it will make a big difference once I get the ins and outs understood of the various programs. I only worried about producing before.
 
Thanks for the informative posts. I try and read up posts by you and Amp2Indy2006. I have not identified any other AMPFs that post these days. I was hesitant at first joining AMPF. But so far it has been very enjoyable. I have no complaints. Hopefully by the beginning of the year we will be PWA (sp). I believe this helps out with the ticket charges tremendously. Not sure of all the qualifications, just overheard a little about it.
Jul 21, 2009 7:09 pm

I would imagine there are a number of us here, but AMPF doesnt get a lot of respect here so we just keep quiet. This would actually be my first post, but ive been reading this forum for a year or two.

Jul 24, 2009 12:28 am
regreprob:

I would imagine there are a number of us here, but AMPF doesnt get a lot of respect here so we just keep quiet. This would actually be my first post, but ive been reading this forum for a year or two.

How do you expect opinions to change if everyone keeps quiet? 3rdyrp2 has been holding his own just fine so far. I heard AMPF is doing away with P1 (not sure on the facts but the office we recently acquired was a P1) and we have had some vendors stop by claiming that we either already do or will be offering their products soon. From what I can tell things are changing in a good way finally.

Aug 13, 2009 5:32 pm

Let me know how to join the class.  Its all the same, just different date.

 
http://www.fa-mag.com/component/content/article/7-news/4306.html?Itemid=40


 
 
“Few things are more important to investors than getting unbiased advice from their financial advisors,” Robert Khuzami, director of the SEC’s Division of Encorcement, said in a prepared statement. “Ameriprise customers were not informed about the incentives its brokers had to sell these investments.”

 
Aug 13, 2009 10:54 pm
Amp2Indy2006:

Let me know how to join the class.  Its all the same, just different date.

 
http://www.fa-mag.com/component/content/article/7-news/4306.html?Itemid=40


 
 
“Few things are more important to investors than getting unbiased advice from their financial advisors,” Robert Khuzami, director of the SEC’s Division of Encorcement, said in a prepared statement. “Ameriprise customers were not informed about the incentives its brokers had to sell these investments.”

 

Amp2Indy2006- Two points I need to make in regard to your post.

 
First is the fact that REIT revenue sharing happened from approx 2000 til 2004, so you were already a part of that class (btw thanks alot).  Not trying to judge you personally, but that was then and this is now.
 
Second is the fact that your story implicates advisors choosing not to fully disclose revenue sharing not the company (All though I am sure home office had no complaints). The following story is about a current problem with a company that screwed the investors without the help of crooked advisors.
 
See the difference. Your story=crooked advisor's fault. The following story=crooked company's fault.
 
http://www.fa-mag.com/fa-news/4362-bank-of-america-to-pay-fine-over-bonuses.html
 
Amp agreed to pay 50% of profit for misleading investors about 30 mm in revenue sharing. How much do you think BOA will be fined. Probably not 10%. 33mm was the initial agreement which is less then 1% of the 5 billion that investers were mislead about.