Case Study: TD Waterhouse

Client: TD Waterhouse, Toronto, Canada

Industry: Financial Services, Wealth Management

Product: QBS OnLine

Challenge:
TD Waterhouse, the full-service brokerage firm affiliated with TD Canada Trust, operates in a highly competitive industry where effective client relationship and management skills are critical to the growth and retention of customer assets. Being able to create more effective sales conversations with new and existing clients is key to the success of most advisors.

However, many salespeople feel they don't have the required skills to be viewed as credible in the eyes of their clients, are weak at identifying client needs and wish they had a better understanding of what really motivates their customers.

Solution:
Clearly, this sales team needed a training program that would help instil the skills and confidence they needed to be more successful. Algario was hired to provide its QBS OnLine sales training program to advisors and others within the sales team. The goal was to give the salespeople the confidence to perform their roles in a more strategic and effective manner, so they can better link product solutions to the needs of their clients.

Results:
Given that TD's goal with the implementation of QBS OnLine was to improve the confidence and capabilities of its salespeople, one can see from the feedback received directly from participants that this was a resounding success. For example, there was a 35% increase in the number of salespeople who now considered their sales skills to be either "Sound" or "Expert" upon completion of this program.

Furthermore, 81% of participants now felt they could effectively identify the needs of their clients, while 84% felt they were capable of establishing credibility with their clients. Moreover, 87% of participants felt they understood their customer's motivations. Most importantly, 80% of advisors felt that QBS helped them improve the quality of their client conversations as evidenced by the increases in specific sales measurement success ratios.

Such resounding feedback on the efficacy of the QBS methodology, particularly from an audience known to be highly sceptical of most sales training programs, indicates that QBS is a unique sales training program that provides users with tangible skills and helps them to develop behaviours that they can actually use in their daily interactions with clients.