Essay on Selling Financial Services Precall Report

Submitted By Bongtam94
Words: 3958
Pages: 16

Selling Financial Services
Tuesday 11:00 am- 1:00pm

Pre-Call Report
Submitted to: Professor Vik Singh
Submitted by: Khanh Ngan Hoang
Vaidehi Chauhan
Faaz Ahmad
Falak Khan
Sara Hanafy

Table of Contents
Industry Knowledge
Business/ Economic:
Current Trends:
Company Knowledge
Seller (Financial Services) Company Information
Image in Industry:
Product Knowledge
Product Features:
Product Support/ Support Services:
Evidence/ Stats/ Testimonials:
Competitive Knowledge
Main competitor including:
Comparison of your product to your competitors
Comparison of your company’s support services to that of your competitor
Customer Knowledge
Analysis of the specific target market who would buy product or service:
Description including demographics, their key buying needs and major motives:
Matching of your products/ service to their buying needs and motives:
Footnotes & Bibliography

Industry Knowledge
In general, Canadian financial services industry has never gone downwards, but made much progress and step by step become healthier.
Business/ Economic:
In 2015, according to Shehryar Khan, during January, Canadian dollar has lost its value by approximately 9% against U.S dollar. Primary reason for weak value in the dollar is caused by the dropping in oil prices as Canada is one of the world largest oil producers. Because U.S dollar has currently had dramatic higher currency value than Canada, people who have invested funds on foreign market especially on the U.S funds market are having a very good time with
huge profits and big returns

Through an interview, Canadian Bankers Association’s president – Nancy
Hughes Anthony has emphasized that political laws does not bring any inconvenience and concerns to Canadian financial segment. The reason has explained: comparing to other countries all around the world, our regulatory system is claimed as one of the best stabilization and fairness. According to
Hughes Anthony, one situation which has raises concerns is when the political interference of somewhere else impacts the international operations of Canadian banks and Canadian citizens, who must adapt to a new livings style in a passive manner
Recently, CRM2 (Client Relationship Model 2) has been enacted as a new regulatory amendment supporting investors by providing greater disclosure of fees and performance, as

well as reliable financial reports/ statements from a specific firm. Fraser Howell (2015) has a positive vision about this interesting topic because according to him, it will help both mutual funds and ETF (Exchange­Traded Fund) industry to exploit the advantage of disclosure and investors’ clear awareness of a company’s position[3].
Over the last three decades, the pace of technological change has increased so quickly that people start adapting technology to grow their business. There are a bunch of benefits if a financial service company knows how to take advantage of using technological advance such as automation and social media to operate, control, observe, advertise and communicate with its customers. Automation ­ advantages of dealing with routine tasks, enables dealers and advisors to gain more time explore thoroughly customers’ need, respond to clients’ inquiries in order to meet and satisfy the buyers[4].
Ordinarily, crisis in the relationship between sellers and buyers is always available. This kind of connection has to have time for trust to be built[5]. However, due to the changing in demands, different tastes and expectations, customer loyalty seems to be not maintained strongly as it is used to be. It creates high competitive environment among financial services companies and corporations[6]. Current Trends:
Today, besides mutual funds, ETF space has gradually asserted itself. Like other