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Practice Innovation Index

Introducing the Practice Innovation Index powered by Cerulli Associates: setting the benchmark for high-performing financial professionals

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What is the Practice Innovation Index?

The Index is the first-of-its-kind¹ diagnostic platform built to benchmark key traits of financial practices in four areas: New Business Development, Wealth Management, Client Service and Practice Management. It analyzes where your practice ranks among your peers and provides customized resources designed to help you improve in these areas. Responses are scored and benchmarked by the Practice Innovation Index’s proprietary methodology, which is powered by Cerulli’s data from over 3,000 financial professionals.

The Practice Innovation Index is part of Invesco Total CX – the total client experience – a powerful all-in-one platform of tools, coaching and content built to help you connect with clients, enhance your business, and optimize your portfolios.

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  • The competition for clients in AUM is fierce, and until now, there was no diagnostic to tell you and certainly no diagnostic coupled with research-backed resources designed to help you in areas where you want to improve. Introducing the Practice Innovation Index, the benchmark for high-performing financial professionals, harnessing the power of Cerulli Associates, a leading research, consulting, and analytics firm. It’s easy to use the Practice Innovation Index. Take the online diagnostic by answering 35 questions that are correlated with the four key areas of your practice: New Business Development, Wealth Management, Client Service and Practice Management. Get your scores in each area, and see a clear view of your relative strengths and opportunities to refine your practice. We’ll show you where you stand relative to your top-performing peers. You’ll identify specific areas of focus for enhancing your business. And you’ll receive a customized roadmap of practical action strategies delivered through Invesco’s robust coaching and consulting programs. The Practice Innovation Index is part of Invesco Total CX, the total client experience, a powerful all-in-one platform of content, coaching, and tools, all built to help you connect with clients, enhance your business, and optimize your portfolio.

    Transcript: How do you and your practice stack up against your peers?

    The competition for clients in AUM is fierce, and until now, there was no diagnostic to tell you and certainly no diagnostic coupled with research-backed resources designed to help you in areas where you want to improve.

    Introducing the Practice Innovation Index, the benchmark for high-performing financial professionals, harnessing the power of Cerulli Associates, a leading research, consulting, and analytics firm. It’s easy to use the Practice Innovation Index.

    Take the online diagnostic by answering 35 questions that are correlated with the four key areas of your practice: New Business Development, Wealth Management, Client Service and Practice Management. Get your scores in each area, and see a clear view of your relative strengths and opportunities to refine your practice.

    We’ll show you where you stand relative to your top-performing peers. You’ll identify specific areas of focus for enhancing your business. And you’ll receive a customized roadmap of practical action strategies delivered through Invesco’s robust coaching and consulting programs.

    The Practice Innovation Index is part of Invesco Total CX, the total client experience, a powerful all-in-one platform of content, coaching, and tools, all built to help you connect with clients, enhance your business, and optimize your portfolio.

    How to get started

    Set aside approximately 20 minutes to answer 35 questions, all of which are correlated to four key areas of your practice and designed to help identify your relative strengths and weaknesses in each. The results then inform the development of a personalized roadmap designed to address specific opportunities for improvement to put into action. Take the Practice Innovation Index assessment to get access to CE credit content.²

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  • Transcript: Paul Brunswick discusses the four rooms

    At Invesco Global Consulting, we view your practice, through the metaphorical lens of a house. That house, your practice, comprises four rooms, the New Business Development room, the Wealth Management room, the Client Service room, and finally the Practice Management room. 

    How well structured those rooms are and how effectively you and your colleagues are deployed within each room, in our experience, drives the performance of your practice and value to your clientele. Using this lens, we constructed the Practice Innovation Index in partnership with Cerulli Associates research, data and insights. 

    Armed with this, Invesco Global Consulting, and it's a research-based coaching and consulting capabilities, provides financial professionals, a comprehensive suite of solutions built to address the challenges the Index may uncover. Your results may be used to help you, and your senior advisor consultant, architect a roadmap, leveraging the vast array of IGC's research-based strategies to help you hone and refine your practice and take your performance to the next level.

    The four rooms

    The Practice Innovation Index analyzes where your practice ranks among your peers and provides customized resources designed to strategically help you improve in four key areas of your practice.

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    New Business Development

    Resources designed to help you generate referrals from clients and centers of influence; present your value in a clear, compelling and client-centric manner; and drive net new assets.

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    Wealth Management

    Resources designed to help you establish a repeatable and scalable discovery process, clearly articulate your wealth management process, and help clients understand risk and stay committed to their long-term strategies.

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    Client Service

    Resources designed to help you institute a quantitative and qualitative client segmentation strategy and stratified corresponding service model, enhance client communications to achieve the greatest impact, and increase client acquisition and retention.

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    Practice Management

    Resources designed to help you integrate team roles and responsibilities based on talent and training, enhance your team's communication and collaboration, institute transformational leadership skills and craft a thoughtful succession plan.

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    Total CX Insights

    The Total CX report pulls together key benchmarking data from successful financial practices and provides ideas designed to help improve productivity and enhance your business.

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Footnotes

  • 1

    Source: Cerulli Associates. Used with permission. Invesco Distributors, Inc. is affiliated with neither Cerulli Associates nor Cerulli, Inc.
  • 2

    These presentations are available for one hour Continuing Education Credit. To receive CE credit, you must view the presentation online in its entirety. Invesco is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org
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