A financial services firm determined that its fee realization for services provided was inadequate relative to competitors and to the value that the firm provided. CMPartners designed and facilitated a set of workshops aimed at improving the confidence and capabilities of key relationship managers who negotiated fees. Working with a client team, we also developed tools and pricing of services protocols. Senior teams within the client organization reviewed the scope of services provided and the fee to be charged prior to engaging their client in the fee conversation. The client team also received coaching on how best to approach fee negotiations. Our client reported that profitability was improved by 12% in the first year.
Supporting a New Sales Culture
A leading financial services firm believed its core services were becoming commoditized. The firm perceived the need to move from a transactional approach to sales to an advisory approach in order to differentiate itself from its competitors. CMPartners identified current mindsets and capabilities within the organization and those required to meet objectives. Based on this diagnosis CMPartners designed a learning architecture incorporating multiple “best in class” providers and classroom as well as on the job education. We also provided advice on the redesign of organizational systems and structures to support this culture change initiative. The company reported new business sales of $12M in the first twelve months.