The position combines sales, product, marketing and operations
functions. Currently based in London, Ehret, a 20-year SSgA veteran, will
assume the role immediately. Mike Karpik, senior managing director, will
take on Ehret’s current responsibilities as head of EMEA.
Ehret joined SSgA in 1993, and has held many senior level
positions, including co-head of the firm’s exchange-traded fund (ETF) business.
In 1998, Karpik joined SSgA, and in 2009 he was named head
of investments for EMEA based in London. He is also chairman of the board for
SSgA Ltd. and a member of the company’s Ireland and France boards.
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More than just cold calling, marketing and prospecting
requires defining your brand and your value proposition, said Jason Chepenik,
managing partner of Chepenik Financial.
How are you different, and what resources can you call on,
he asked at a panel at the 2012 PLANADVISER National Conference in Orlando.
“Everyone has a brand,” said Ty Parrish, director of key
accounts at RidgeWorth Investments. But the crucial difference is keeping on
top of your message. If you don’t take control of your brand and distinguish
yourself, you’re going to be judged on price, he cautioned.
Quoting Jerry Garcia, the Grateful Dead musician he admires,
Chepenik advised, “You want to be known not for being best at what you do, but
known as the only one who does what
you do.” Even the language you use should be different, he said.
Jonathon Schultheiss, retirement plan adviser at Oak Ridge
Wealth Management, pointed out that conversations might open with human
resources or health care benefits, or something else that is of interest to the
sponsor. Another way to build relationships with a sponsor can be spending time
with them at interesting event or volunteering time with a charitable
organization that is meaningful to you.
“Deliver your message,” Chepenik said, “but get in the door.”
“We use lead generation services to keep prospects coming in
the door,” said Michael Kane, managing director of Plan Sponsor Consultants.
(Cont’d…)
Kane’s firm went through a rebranding process seven years
ago, he said. “We knew the outcome we wanted but it was a journey to get there,”
he recalled. “You have to decide who you are, and what you are. We decided we
wanted to focus on retirement planning. We wanted to be known as an elite retirement
planning consultant.”
Among the projects they embarked to achieve their goals were
writing more articles and posting them on their website, and having them
published whenever possible. The company’s wholesaler gave them an idea to use
at seminars, and they began holding regularly scheduled Breakfasts with Benefits
using ERISA attorneys to build relationships. “You have to develop yourself as
a resource through these people—accountants and attorneys—so they will want to
recommend you,” Kane said.
The financial services industry seems reluctant to use
social media, an audience member said, and asked if there are appropriate ways
to use the networks. Chepenik called social media extremely valuable. “Forget
about the others,” Parrish advised. “LinkedIn: Use it. It’s one of the most
powerful things out there.”
Kane agreed, mentioning that he has used LinkedIn to start
discussions in groups with HR representatives, chief financial officers,
attorneys and accountants.
Asking for referrals can be tricky. “The best referrals
happen when you’re not there,” Parrish said. The way to make this happen is by creating
what he calls psychic real estate in the minds of the contact so that they have
a solid understanding of the value you can bring to clients: “They should be
able to articulate what you do and its value.”
Chepenik advised networking and discussing best practices at
conferences. “There are top producers here, and most will share marketing ideas,”
he said.