Edition 6 | 2024
Empowering you to thrive
Greg Cornick: Accelerating Enterprise Value
A conversation with Kristen Kimmell, EVP, Business Development
Advice and Wealth Management President Greg Cornick recently sat down with Kristen Kimmell, EVP, Business Development, for a conversation about the Four Pillars of Value we’re focused on as part of our commitment to being an exceptional partner to you, and, specifically, how you can rely on us as your partner to help grow your business.
A message from Erinn Ford, EVP, Advisor Engagement
Valued SAI Partners,
I am thrilled to see our registration list for NXT - so many of you chose to make time for Osaic’s NXT conference virtually and in New Orleans – more than 1300!
For me, this is only the second time, in over 30 years of serving advisors, to be missing an event (and I’m already experiencing FOMO – fear of missing out!). My daughter Makenna graduated from college last Sunday (didn’t have a high school graduation ceremony due to Covid) and Makenna, Alexa and I have had a trip planned together. I am grateful to my relationship management team and the entire team at Osaic for their support of our partnership with you. It’s a special opportunity to connect in person, and I’m thrilled our team has opportunities like this to demonstrate our care, commitment and best in class resources.
Keep in mind, if you couldn’t attend NXT, replays will be available on the virtual platform for 90 days after the event. NXT is our signature event dedicated to the future of wealth management, and many of the Osaic solutions that help you accelerate your enterprise value will be featured from the main stage or during breakouts.
This month, I’m feeling especially energized given the theme discussed in the latest video from Greg Cornick, and for the coming months ahead. Our Advisor Engagement team is here to help you do just that – accelerate your growth and, ultimately, the value of your business.
Your feedback in action
A primary focus of Advisor Engagement is to honor and amplify your voice to build on the areas of your experience that are going well, as well as our opportunities for improvement, with our peers inside Osaic. As we focus on your ease of doing business with us - in last month’s video message, Tim Hodge talked about our progress to creating a frictionless experience. Did you know we resolved 70 friction points in the last 13 months? I encourage you to watch Tim’s Quarterly Report video and to take us up on any feedback loops you see in our systems, like Support Center, eQuipt, OneHub or to feedback@osaic.com. All this data is collected, analyzed, and acted on. We call it “co-authored resolution” because it’s informed by what you tell us isn’t working in real-time, and you can always find the updates on the Enhanced Experience Program’s Dashboard, which is updated quarterly.
Supporting your journey to Osaic
We are less than 30 days away from transition weekend, June 15th, and I want to take the time to say thank you and acknowledge all the work you are doing to prepare yourself, your teams, and your clients. We appreciate the time and energy that you are investing in making this as successful as possible.
In past Connections editions we’ve talked about the numerous efforts in flight to ensure you and your staff feel as supported as possible. A few are highlighted below:
- The SAI Transition Portal continues to be an incredible central resource for anything you need that is related to your transition to Osaic Wealth. Please be sure to open this portal every week leading up to transition as there are a tremendous number of updates and resources including on demand trainings, frequently asked questions, client approved brochures and live environment trainings going on up until transition you advisors and support staff can register for now! We highly encourage you to leverage these resources to feel fully equipped and ready come June 17th.
- We were privileged to have many of you join the SAI Executive Town Hall virtual event held May 10th and hosted by Chad Parmenter, National Advisory Board Chair, and Mirus Planning Founder. Chad was joined by Jamie Price, President and CEO, Greg Cornick, President, Advice and Wealth Management, me, and several key executives and leaders responsible for your transition. In case you missed it, click here to access the replay.
Again, our firm and our team are here to support you! Please do not hesitate to reach out for any reason as we head into these next few weeks together. Help is here for all of you!
Both journey2one@osaic.com and advisorengagement@osaic.com are great ways for you to connect with our team at any time.
Until Next Time
Thank you for the continued commitment you and your teams have to your clients. We are on this journey together. We are energized moving into the summer and look forward to connecting with you in all the ways we can.
Please always feel welcome to reach out at advisorengagement@osaic.com and a member of my team will get back to you promptly.
Erinn Ford
Transition News
We are so excited to welcome you to Osaic in June of 2024! Our commitment to supporting you through this change remains steadfast, and we are rapidly expanding the number of resources available to you:
- We have opened a dedicated transition support phone line, which is staffed by Advisor Support team members who are specially trained to support your transition. You can reach this team at 800-747-611, option 7.
- We’ve created a variety of ways to help you prepare for the transition, so we can meet you at the right level of support and engagement you need. Financial Professionals who have someone on their team attend trainings, engaged on-demand material and ask clarifying questions have a greater level of confidence ahead of transition. Attending one or more of the training options below is strongly encouraged. Visit the webinar and training sections of Transition Portal to learn more.
- Our Digital Experience Overview is now available to help you understand how your experience today will change after transition when it comes to the platforms and tools you use to run your business. Visit the Transition Resources section of Transition Portal to review.
- We recently launched a Transition Checklist, designed to help you track the items that will require your attention and understand what will be managed on your behalf. This checklist is also available under Transition Resources.
Will additional training be assigned?
Yes, there will be additional training assigned to help you further your knowledge of Osaic platforms and processes.
- Save the date: in-person training opportunities.
- Join the Osaic Training team for a live in-person workshop, during which they will walk through several Osaic technology systems that you will use to process business once you transition to Osaic . Registration will open in the coming weeks.
- Event dates and locations:
- June 25, 26, and 27: La Vista, NE
- June 25, 26, and 27: Scottsdale, AZ
- June 28: Philadelphia, PA
- Access the Replay: May 10 Securities America Executive Town Hall
Thank you to the more than 600 Financial Professionals who joined us live for the May 10 Securities America Executive Town Hall hosted by National Advisory Board Chair and fellow Securities America Financial Professional Chad Parmenter. Chad was joined on the call by numerous Osaic leaders to discuss your upcoming transition and the future of our partnership. A replay is available if you couldn’t join us live and would like to tune in.
Transition Preparation
We talked to long-time Securities America advisor Laurie Humphrey, of Granite Financial about the preparations she and her team are making in advance of the Journey 2 One transition.
From the on-demand training to client communications, and her own DBA rebrand, click here to see Laurie’s best practices and words of advice.
Recent enhancements you should explore
Our Enhanced Experience Program Dashboard highlights the continual upgrades we’re implementing to make it easier for you to do business with us.
Hear directly from two members of our National Operational Excellence Council (NOEC), who share their insights on the dashboard, reasons to be excited about it, and a couple of their favorite enhancements, including:
- The recently launched Life Events Support team
- Improvements to the Roth conversion form in collaboration with NFS and Pershing
- Enhancements to Support Center, including the ability to re-open cases
Do you have ideas for ways we could make it easier for you to do business with us? Send us your feedback or reach out to one of your NOEC representatives.
Four Solutions to Accelerating Your Enterprise Value
There are many ways to build and grow the value of your business. Osaic’s strategic pillar – Accelerating Your Enterprise Value – is about identifying new and enhancing current solutions that can help you achieve that growth faster.
Capital Solutions
High Net Worth Consulting
Osaic Academy
Advisory Pricing
To better help you calculate your fees and be of benefit to your growing business, we’ve simplified asset-based pricing model for Advisor Managed Portfolios (AMP), which is based on your total assets* on the Wealth Management Platform (WMP).
- New pricing goes into effect for Advisors with $50 million and above in assets under management (AUM) on WMP.
- Under $50 million in AUM, you will continue to receive the elite pricing discounts available to you today.
*Pricing is at the advisor’s individual book of business level.
Wealth Planning: CE Webinar
- Register today and receive 1-hour of Life Insurance continuing education.
- Highland Capital Brokerage presents "Disability Insurance: Protection for Your Client's Financial Future Webinar" CE Webinar featuring Jim Johnson, CLU, ChFC, MSFS on May 29, 2024 at 3:00 p.m. CT.
Multiply your value & revenue in 90 days
At the 2024 W Forum, a peer-based discussion became a very popular breakout session. While the replays are no longer available, we captured the key learnings and have provided quick links in this new case study.
Got a topic you’d like us to research & make into a peer case study for you? Let us know!
Updates have been made to our Advisor Support Leadership Team contact lists, making it easier for you to connect with the right critical resources. Find contact information for multiple service leadership teams, including Premier Services, Advisor Support, Advisor Technical Support, and Investment Advisory. Information has been simplified, so you can quickly identify who to reach out to based on your firm affiliation.
Updated resources are posted to your firm’s portal and are accessible for quick reference.
Starting May 28, 2024, the trade settlement cycle in U.S. markets is accelerating from two days (T+2) to one day (T+1), meaning you will have a shortened window to make funds available for trade-related activity. This acceleration of the settlement cycle highlights the importance of moving your clients away from paper checks, and instead utilizing ACH deposit or mobile deposit.
Our T+1 Resources page provides important information about additional associated changes, as well as resources to help you set up your clients with digital deposit options.
Frictionless Experience Updates
I am thrilled to share with you just a few of the exciting advancements we are making at Osaic to enhance your experience with us as part of the continued conversation in last month’s video.
Last year, we introduced four pillars that guide how Osaic serves and provides value to you – accelerating enterprise value, the digital journey, creating a frictionless experience, and community and channels. Our service and operations teams are foremost focused on the third pillar – reducing friction in your everyday operations – by providing you expertise through a low touch, high-value service model.
As an organization, we continue to prioritize our investment in modernizing our service model and platform, ensuring we have the right technology and people in place to provide you with industry-leading service. Our goal is to make it as easy as possible for you to focus on what you do best – servicing your clients and helping them achieve their financial goals.
Efforts are well under way with our exciting digital (r)evolution, which aims to provide you access to tools that enable quick response and issue resolution. For example, the turnaround time on instructions you submit on behalf of your clients is now happening in a matter of minutes or seconds, rather than hours and days.
As part of this evolution, we are also actively investing in the new eQuipt to make continuous feedback based on your feedback. This platform provides a unified account opening and maintenance solution designed to streamline your day-to-day business operations.
All existing client and account information is now available in new eQuipt, and 99.3% of all registration types are covered for Pershing, NFS, and non-brokerage. We’ve also added more funding options, with the ability to fund an account externally and an automated workflow to accept wet signatures. Coming soon, we’re adding more integration with the Wealth Management Platform (WMP) and the ability to open multiple accounts at once, as well as the ability to manager your day in one place, rather than switching to a different platform for Supervision tasks.
Since Support Center was introduced in 2022, we have consistently enhanced your experience with the system by introducing new features and capabilities to provide you quick resolution and better accommodate how you do business. As we move through the second quarter, you can expect system enhancements to include:
- The ability for you to submit feedback on the platform, directly within Support Center.
- The ability to save even more time when re-opening cases, with a drop-down selection option for Reopened Reason.
- New menu options for handling sensitive and often complicated deceased client situations.
- Optimization of current menu options, consolidating for ease of use.
As we streamline core processes, we have developed an omni-channel structure – including a best-in-class telephone platform – that allows you to connect with the right expert via the channel of your choice.
We’ve also formed specialized teams to help you resolve complex issues. For example, our tax team can assist with complicated tax season issues and our life events team helps with difficult scenarios around beneficiaries, death, divorce, and more. A long-time Financial Professional with Osaic recently shared with us how helpful it was to have this specialized partnership when working through a very complicated situation after a client’s passing in which trustees were non-U.S. citizens. And another Financial Professional wrote to us to express appreciation for the expertise of a life events team member, who researched and quickly resolved a complex question about trusts. You can reach our life events team at [number].
We are committed to continuing to expand our expert teams to better serve you.
Your feedback is invaluable to us and helps shape our priorities, so we’re expanding your voice and our ability to capture your immediate feedback. We have implemented post-contact surveys and are exploring avenues for you to provide feedback on our technology. Don’t forget to participate – we want your input!
We also rely heavily on insights from our National Operations Excellence Council (NOEC) to identify and prioritize areas for improvement across policies, procedures, operations, technology, service, and supervision. You can track the progress of these efforts through our Enhanced Experience Program Dashboard.
Thank you for choosing Osaic as your partner. Your satisfaction is our priority, and we are committed to delivering an exceptional client experience. We look forward to continuing to support you and enhance your experience with us.