Customer & Supplier Requirements

Customer and Supplier Requirements

As an investor today, there are literally tens of thousands of investment products available to the individual and business. These investment vehicles include, but are not limited to: stocks, mutual funds, bonds, certificates of deposits, money market accounts, as well as an extensive list of other options. Also available to the individual and business investor, are hundreds of financial services that are related to the aforementioned investment products. Once again, an exhausting list of financial services are available, with a sample of them included as follows: full service financial planning, investment consulting, insurance evaluation, estate planning, charitable giving and portfolio review and analysis. It is obvious from the products and services listed, that the individual and business customer has numerous options available to them. These products and services are provided by suppliers that work both independently and in cooperation with Financial Consultants, like me. The relationship that exists between the customer, the Financial Consultant (FC), and the supplier is dynamic, customized to the customer’s needs, and based on strict requirements. This relationship is also the basis for an in-depth analysis that a Financial Consultant (FC) goes through with both customers and suppliers.

As a FC for RBC Dain Rauscher, I currently work with 154 households comprising 262 accounts. These households are my customers, and as my customers they are held to a set of minimum requirements that I feel are necessary for us to have a successful relationship. Some of the requirements that I ask of my clients include the following.

• Annual in-person meetings: These meetings allow the customers to update me on their overall financial situation and any events that have occurred in the prior year that would impact our joint decisions.

• Bi-monthly phone conversations: These conversations give us the opportunity to talk about products and services that may be appropriate for their financial plan.

• Full financial disclosure: This requirement is at the core of our relationship, as I require all my clients to share their complete financial information. With this information, I then have the information that I need to recommend the appropriate investment products and services.

• Continued education: I require that all my clients work to expand their investing knowledge through education from books, tapes, seminars, visits with their FC, and any other avenues available to them. This education will make them smarter investors and better clients.

• Complete trust and openness: Of all the requirements that I have for my clients, the ability for them to trust in my recommendations and be completely open with me are probably the most important. These two requirements are also unique in that they require my client’s emotions to be involved. Because I strive to provide excellent customer service, providing products and services that my clients need and desire, it is essential that they communicate openly with me and trust the recommendations I give them based on their best interests. When these two important requirements are met, I honestly feel like we have a successful relationship.

Working with individuals and businesses to manage their wealth is a great honor and something that I take seriously. To be successful at your profession, it is essential to have a successful relationship with those you work for and with. The requirements that I have for my clients help establish this type of relationship. Some of these same requirements also carry over to the relationships that I have with my suppliers, the individuals and businesses that provide the products and services that I offer.

As mentioned prior, there are literally thousands of investment products and services available to individual and business investors today. As a FC for RBC Dain Rauscher, I have chosen to work with a select number of suppliers to provide my clients with the products and services that I feel are suitable. The suppliers that I work with are selected based on a lengthy due diligence process that includes an initial screening by RBC Dain Rauscher experts followed by a final screening based on my individual requirements. With the demanding and dynamic nature of our relationship, the suppliers eventually become partners of my business and work with me to be more successful. The success of our relationship though, is based on a few strict requirements that I have for these suppliers. These requirements are discussed as follows.

• Quarterly meetings: The meetings that I have with my suppliers allow me to receive the latest product updates as well as to discuss the status of the existing products and services. These meetings also allow me to update my suppliers on the