© 2013 assima1 credential: wealth management integration in january 2009 morgan stanley and...

© 2013 Assima 1 Credential: Wealth Management Integration In January 2009 Morgan Stanley and Citicorp joined forces in a new joint venture called Morgan Stanley Smith Barney (MSSB), which immediately became the financial industry's largest wealth management business. With 16,000 financial advisors and $1.7 trillion in client assets, the venture offers important benefits to clients and shareholders including a superior platform with unmatched resources, research, and intellectual capital. To realize the full potential of the business strategy depended on successfully preparing people in the new organization to understand, accept and perform their new role and responsibilities using their new technology platform and systems. To meet this need, MSSB initiated the Joint Venture (JV) integration project. Through a partnership with Accenture, Inc., The Training Associates, and Assima PLC, this project included a comprehensive training and reference documentation effort to prepare employees at all levels to successfully adopt massive changes while ensuring business continuity and driving growth. Solution: • Flexible and scalable training approach and delivery platforms • Innovative learning approaches and delivery methods to create engaging and efficient learning experiences • Reduced training time by focusing on critical changes from existing workstation to new one • Increased learning retention by reinforcing learning experiences through a blended model • Improved proficiency by providing hands-on practice that offer opportunities to apply new knowledge and reinforce new skills • Provide reference and knowledge resources to build self-sufficiency • Deliver high-touch, live training support through an experience trainer in the branch • Utilize top performers as coaches to others Value Delivered: The JV training program successfully delivered three desired outcomes: •Retention: Although massive change is a significant factor in raising retention concerns, there is no evidence that staff retention has been impacted. •Revenue: Branding, product, and operational changes that impact clients raise concerns about retention. The results from 2011 and 2012 YTD allay concerns about significant staff, client or revenue impact. •Consistency across the firm: The JV Integration program creates consistency in process, policies and procedures that supports delivery of consistent world class service throughout the firm. Challenge: To realize the full potential of the business strategy, it was critical that the integration training… •Be delivered quickly across nearly 26,000 employees (includes Financial Advisors and Support Staff) •Speed time to competency for Associates •Not disrupt the performance of the organization Accenture contacts: Jamie Breen ([email protected]) and Michael Griffiths ([email protected])

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Page 1: © 2013 Assima1 Credential: Wealth Management Integration In January 2009 Morgan Stanley and Citicorp joined forces in a new joint venture called Morgan

Credential: Wealth Management IntegrationIn January 2009 Morgan Stanley and Citicorp joined forces in a new joint venture called Morgan Stanley Smith Barney (MSSB), which immediately became the financial industry's largest wealth management business. With 16,000 financial advisors and $1.7 trillion in client assets, the venture offers important benefits to clients and shareholders including a superior platform with unmatched resources, research, and intellectual capital. To realize the full potential of the business strategy depended on successfully preparing people in the new organization to understand, accept and perform their new role and responsibilities using their new technology platform and systems. To meet this need, MSSB initiated the Joint Venture (JV) integration project. Through a partnership with Accenture, Inc., The Training Associates, and Assima PLC, this project included a comprehensive training and reference documentation effort to prepare employees at all levels to successfully adopt massive changes while ensuring business continuity and driving growth.Solution:

• Flexible and scalable training approach and delivery platforms

• Innovative learning approaches and delivery methods to create engaging and efficient learning experiences

• Reduced training time by focusing on critical changes from existing workstation to new one

• Increased learning retention by reinforcing learning experiences through a blended model

• Improved proficiency by providing hands-on practice that offer opportunities to apply new knowledge and reinforce new skills

• Provide reference and knowledge resources to build self-sufficiency

• Deliver high-touch, live training support through an experience trainer in the branch

• Utilize top performers as coaches to others

Value Delivered:The JV training program successfully delivered three desired outcomes:

•Retention: Although massive change is a significant factor in raising retention concerns, there is no evidence that staff retention has been impacted.

•Revenue: Branding, product, and operational changes that impact clients raise concerns about retention. The results from 2011 and 2012 YTD allay concerns about significant staff, client or revenue impact.

•Consistency across the firm: The JV Integration program creates consistency in process, policies and procedures that supports delivery of consistent world class service throughout the firm.

Challenge:To realize the full potential of the business strategy, it was critical that the integration training…

•Be delivered quickly across nearly 26,000 employees (includes Financial Advisors and Support Staff)

•Speed time to competency for Associates

•Not disrupt the performance of the organization

Accenture contacts: Jamie Breen ([email protected]) and Michael Griffiths ([email protected])