SAMPLE PROJECTS

Check out some examples of projects we’ve completed in the past.

“The services Compass provided were very beneficial. Their inputs were solid, based on facts and gave us good guidance throughout the process.”

Casey Wilcox | President

“The timing of our introduction to Eric and his team could not have been better. There is no way we could have accomplished as much as we did, in the time we did it, without Compass.”

John McWhorter | CFO

“Having Compass as an additional resource during my team’s conversion was critical to our success and allowed me to focus more of my time on our advisors and clients. Would recommend Compass Consulting to any bank with investment services.”

Jeanette Allan | Managing Director

PROJECT #1:

$2B Fast-Growing Community Bank Looking to Add a Wealth Management Platform

Parameters:
  • Managed program – Advisors employed by the Broker-Dealer
  • Two levels of financial advice
    • Branch-based advisors catering to mass-affluent
    • 2nd floor advisors catering to ultra-high-net-worth and family wealth
  • Add Private Banking
Results:
  • Ideation to launch took 3 months to complete
    • Third-Party Manager evaluation and selection
  • Assisted in Board of Directors presentation
  • Assisted in DBA creation, logo & web design
  • Created cross-selling incentive plans
  • Assisted in adding four Financial Advisors
    • Three branch-based ($2.8M combined pre-hire revenue)
    • One 2nd Floor ($1.2M pre-hire revenue)
  • Assisted in adding three Private Bankers
    • Combined AUM of $700M
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PROJECT #2:

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$4.5B Credit Union Looking to Change Broker-Dealers

Parameters:
  • Dual Managed program with 11 Advisors
  • Focus on growing advisor head count
  • Focus on transitioning from transactional to advisory
  • Increase revenue share and net income percentage
Results:
  • Ideation to contract completion took 5 months
    • Third-Party Manager and selection
  • Contract completion to program conversion took 3 months
  • Assisted in Board of Directors presentation
  • Assisted with addressing financial advisor concerns
  • Assisted with financial advisor transition
  • Increased revenue share by 4.5%
  • Increased net income by 26% (23% to 29%)

PROJECT #3:

$6.4B Bank Looking to Change Program Type and Possibly Change Broker-Dealers

Parameters:
  • Currently managed program with 18 Advisors wanting to change to dual managed
    • Moving from advisors being employed by the broker-dealer to employed by the bank
  • Focus on transitioning from transactional to advisory
  • Increase revenue share and net income percentage
  • Develop licensed banker program
Results:
  • Ideation to new contract completion and conversion took 4 months
    • After evaluation, stayed with current broker-dealer
  • Assisted HR in developing Policies and Procedures specific to financial advisors
  • Assisted HR in developing a compensation grid specific to financial advisors
  • Assisted HR in developing job descriptions for Licensed Bankers
  • Assisted in communicating change to financial advisors
  • Increased net income by 16%
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For more information or to get started, contact Compass Consulting today.