Ever wonder what you should seek in return for the investment you have made in COIs?
You’re not alone.
Question: Sales Managers are very good at asking wholesalers for support and asking us to do some meetings for trainees etc.
How do I get something from them in return?
It’s hard for them to push our product, as they do not do that for anyone.
What should I be asking from them in return for my wallet and time that I give up?
Answer from Coach Rob: In measuring my efforts, and to help evaluate if those efforts were being reciprocated, what I always looked for from a COI was:
Access: When others are trying to get time on meeting agendas, I know I’ll get priority treatment because the COI and I have forged a good relationship.
Conduit for Information: When my firm starts a new fund/sale of a new product, launches a new value add, or shares an important piece of insight, I can count on the COI to help me spread the word to the advisors that she/he serves.
Insights: The COI helps me understand who in the office is worth my time and who in the office is a waste of time, because I have earned the opportunity to receive this insight, not because I’m entitled to it.
None of these are achievable without solid COI relationships.
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