Financial Services for New Account Representatives Curriculum Outline
The Financial Services Industry
Overview/Description
Do you know what drives an investor to save? Do you know the difference between taxation strategies and investment strategies? The financial services industry contains many different business operations, products and finance concepts that are important to know This course will introduce these business segments, concepts and products allowing you to increase or review your knowledge about the industry.
Target Audience
Individuals newly hired or transitioning into the financial services industry
Expected Duration
3.5 hours
Lesson Objectives:
The Need for Financial Services
Identify the benefits of becoming familiar with the financial services industry. Differentiate between financial services products and financial concepts. Select the concerns and goals that drive people to save and invest in a given scenario. Determine the financial life cycle stage that drives a potential investor in a given scenario. Financial Concepts
Recognize the four types of basic financial service concepts. Determine the elements of inflation and their impact in a given scenario. Classify the five risk potentials associated with investing. Identify methods to minimize risk and maximize reward Differentiate between the various tax strategy attributes in a given scenario. Financial Products and Their Distribution
Recognize the value of understanding distribution methods of basic financial products. Identify services offered by banking institutions. Recommend banking services to customers based on their needs and the possible benefits they can receive from those services. Differentiate between various types of life insurance products. Identify elements associated with common stocks, corporate bonds and mutual funds. Back to ListLegal Aspects for New Account Representatives
Overview/Description
This course addresses laws and legal regulations associated with new accounts. Learners will complete activities that will help them explain to customers the legal regulations governing new accounts. The responsibilities of financial service representatives will also be addressed.
Target Audience
New and experienced account representatives, personal bankers, and other banking professionals who work with new accounts
Expected Duration
2.0 hours
Lesson Objectives:
Federal Deposit Insurance Corporation (FDIC)
Identify the benefits of the FDIC. Identify the intentions of the FDIC. Differentiate between the various types of FDIC-insured personal accounts. Identify FDIC insurance limitations, and exceptions to those limitations. Banking Acts and Regulations
Identify the benefits of understanding banking acts and regulations. Identify the definitions of key banking regulations. Differentiate between the reporting instruments of the Bank Secrecy Act. Apply the correct Bank Secrecy Act guidelines in a given scenario. Identify the role of the Office of Foreign Asset Control (OFAC). Recognize circumstances that warrant checking OFAC listings. Disclosures and Regulatory Compliance
Identify the benefits of knowing about mandatory disclosures and proper regulatory compliance. Define key regulations that govern lobby disclosures. Identify compliance issues governing the opening of new accounts. Apply compliance basics in a given scenario. Differentiate between new account disclosures. Identify the proper IRS compliance procedures when opening an account. Back to ListCustomer Service for New Account Representatives
Overview/Description
The financial services industry requires that daily interactions with customers result in a positive exchange that best meets the needs of the customer. This course will give the learner the opportunity to practice the necessary skills while best assisting their patrons.
Target Audience
New and experienced account representatives, personal bankers and other banking professionals who work with new accounts.
Expected Duration
3.5 hours
Lesson Objectives:
Quality Customer Service
Recognize the beneficial practices of quality customer service. Identify customer-friendly definitions of quality customer service. Practice key habits of quality customer service in a given scenario. Differentiate between internal and external customers. Identify key questions to ask when creating an action plan. Demonstrate skills necessary to developing positive customer rapport in a given scenario. Differerientiate between effective and ineffective listening strategies. Influencing Customer Service
Identify the benefits of understanding the influencing on customers. Differentiate between in-focused and customer-focused company types. Characterize customer personality types. Identify common customer expectations of customer service providers. Practicing Quality Customer Service
Identify the key to customer service success. Identify customer perceptions of professionalism exhibited by service providers. Practice elements of quality customer service in a given scenario. Back to ListSavings and Checking for New Account Representatives
Overview/Description
In the financial services industry it is important to know what products are available when determining what financial solution best meets your customers needs. This course will define the attributes of savings and checking accounts. This information is used when servicing existing accounts as well as when identifying appropriate solutions for prospective account holders.
Target Audience
New and experienced account representatives, personal bankers and other banking professionals who work with new accounts
Expected Duration
2.0 hours
Lesson Objectives:
Savings Accounts
Identify the benefits of understanding savings account basics. Identify the function of savings accounts. Identify the correct definitions for traditional savings account types. Recommend the correct savings account type for a customer in a given scenario. Identify correct examples of non-traditional savings accounts. Recommend the appropriate savings strategy for a customer in a given scenario. Checking Accounts
Recognize benefits associated with using checking accounts Select the functions of a checking account from a list. Differentiate between the different types of traditional checking accounts. Match attributes with different types of non-traditional checking accounts. Determine the appropriate checking solution for a customer in a given scenario. Distinguish between on-us check processing and transit check processing. Savings and Checking Security
Identify the benefits of understanding savings and checking security. Analyze the check risk-limiting skills used in a given scenario. Determine whether the appropriate steps were taken to open a new account in a given scenario. Identify the products that will reduce check usage. Back to ListSales for New Account Representatives
Overview/Description
The financial services industry desires to meet its customers financial needs. It is imperative to know how to determine a customers needs prior to recommending any financial solutions. This course will give you opportunities to practice methods of identifying these needs and turning this knowledge into productive relationships. You will learn the sales skills to increase the profitability and productivity of the new accounts department.
Target Audience
New and experienced account representatives, personal bankers and other banking professionals who work with new accounts.
Expected Duration
3.0 hours
Lesson Objectives:
Get Ready to Sell
Identify the benefits of preparing for sales in the financial industry. Identify elements that promote a positive attitude toward sales in the financial services industry. Identify the skills that promote relationship building in sales in the financial services industry. Identify sources of product expertise. Differentiate between financial service products and services. The Basics of Financial Service Sales
Identify the benefits of exercising basic sales practices in the financial services industry. Identify the practices necessary in determining the buying motives of financial service customers. Identify elements of a successful sales talk. In a role play, effectively apply techniques for successful sales talk. Identify opportunities for cross-selling in the financial services industry. In a given scenario, effectively employ cross-selling techniques in the financial services industry. Sales in Action
Identify why sales opportunities arise in the financial services industry. Sequence the five steps of a sales strategy. Effectively apply the elements of a sales strategy in a given scenario. Identify elements of the positive presentation strategy. Effectively apply the positive presentation strategy, in a given scenario. Sequence the three-step process to overcoming objections in financial service sales. In a given scenario, practice overcoming objections of financial service customers. Identify acceptable closing tactics. Back to ListCommercial Accounts for New Account Representatives
Overview/Description
This course addresses how to open and document many of the more complicated account relationships by understanding fiduciary relationships and who can act on these special accounts.
Target Audience
New and experienced account representatives, personal bankers, and other banking professionals who work with new accounts
Expected Duration
2.5 hours
Lesson Objectives:
Serving Businesses
Identify why it is important to understand how to serve your commercial customers. Identify the four business types. Demonstrate the characteristics of good commercial customer service in a given scenario. Determine whether the correct pieces of information were presented when opening a commercial account. Commercial Loans
Recognize why knowledge of commercial loans is important. Identify reasons that businesses need loans. Differentiate between types of commercial loans. Recommend the correct loan to a commercial customer in a given scenario. Identify important aspects of loan servicing. Commercial Services
Identify the reasons that knowledge of commercial services is important. Identify the types of checking services available to commercial customers. Recommend the correct checking service to a commercial customer in a given scenario. Identify the types of merchant bank card services available to commercial customers. Conclude whether a bank card service is an appropriate solution in a given scenario. Identify the types of trust services available to commercial customers. Match trust services to commercial customer needs. Cash Management Services
Recognize why cash management services are important. Define cash management. Identify the advantages of cash management. Identify investment options within cash management services. Identify other cash management services available to the commercial customer. Back to ListIRAs for New Account Representatives
Overview/Description
In the financial services industry, it is important to know what products are available when determining what financial solution best meets your customers needs. This course will define the attributes of individual retirement accounts (IRAs). This information is used when servicing existing accounts as well as when identifying appropriate solutions for prospective account holders.
Target Audience
New and experienced account representatives, personal bankers, and other banking professionals who work with new accounts
Expected Duration
1.0 hours
Lesson Objectives:
Types of IRAs
Select the benefits of opening an IRA as a savings plan for retirement. Identify the elements of a Traditional Contributory IRA. Identify the special features of a Rollover IRA. Differentiate between the advantages and disadvantages of the Simplified Employee Pension IRA, from an employers perspective. Calculate the amount of money employers must contribute to an employees SIMPLE IRA, in a given scenario. Identify the elements of a Roth IRA. Taxation
Identify the benefits of the Taxpayer Relief Act of 1997. Identify the general tax rules for withdrawing money from an IRA. In a given scenario, identify the type of penalty assessed. Distributions
Identify the benefits of IRA distributions. Identify the important tasks that must be completed by the required beginning date (RBD) for IRA distributions. Calculate the RBD for IRA distributions, in a given scenario. Identify the attributes of required lifetime distributions. Identify the types of beneficiary, in a given scenario. Back to ListFinancial Service Representatives in Action
Overview/Description
The financial services industry requires that service representatives interact with customers on a daily basis. Using effective nonverbal and verbal communication skills is crucial to developing strong customer relationships. This course will give the learner the opportunity to practice the necessary customer skills, such as using the correct tone of voice, telephone etiquette and methods for dealing with difficult customers.
Target Audience
New and experienced account representatives, personal bankers and other banking professionals who work with new accounts
Expected Duration
3.5 hours
Lesson Objectives:
Customer Communications
Recognize the benefit of understanding communication techniques that improve customer relations. Identify effects of nonverbal communication on customer relations. Identify practices that positively affect voice tone in customer interactions. Sequence the steps of proper telephone etiquette. Apply proper telephone etiquette in a given scenario. Dealing with Difficult People
Recognize the benefits of employing conflict resolution strategies in customer service. Identify the six steps to conflict resolution. Demonstrate the six steps to conflict resolution in a given scenario. Analyze a character in a given scenario to determine the working style they exhibit. Identify the four working styles. Identify strategies for managing stress. Determine the best strategy for managing stress. Identify factors that contribute to stress escalation Practicing Professionalism
Identify the actions that foster a professional image. Identify the actions that foster self-disclosure of professional image. Identify criteria for prioritizing tasks when managing time in a given scenario. Back to List
Financial Services for New Account Representatives
For financial planners that are working within the financial services industry there are many factors
that need to be scrutinized in order to keep things running smoothly and to sufficiently assure customers of the right path
for them. You need to be familiar with investing and have an understanding of product availability so you can offer your
customer viable options. It is important to know exactly who your customers are and how to fulfill their requirements, their
needs and exceed their expectations and our online training can help.
With CBT Directs Online Financial Planning and Financial Services Training, professionals will get the chance to see how
their service environment can have a drastic effect on company growth and profitability and learn about the legalities that
should be observed when managing a financial account. Our online training will go over the different forms of effective
communication, such as listening and/or telephone skills. CBT Direct will also help you to identify why financial planning
is unique, along with the best ways to identify and serve your customers with optimal results.
Benefits of CBT Direct’s Online Financial Planning and
Financial Services Training
CBT Direct boasts the most beneficial online training on the market. With CBT Direct’s online training, you have the
flexibility to study on your schedule, and with the speed and reliability of the internet, CBT Direct’s Financial Planning
and Financial Services training course is accessible anywhere you have an internet connection. Convenience finally costs
less with CBT Direct - the most affordable online training solution today.
The unique design of CBT Direct’s Financial Planning and Financial Services course emphasizes learner initiative,
self-management and experiential learning. CBT Direct’s online course design begins with the definition of user-focused
performance objectives and then proceeds to the selection and implementation of instructional strategies and learning
activities appropriate for those objectives. This effective instruction model for CBT Direct’s Financial Planning and
Financial Services training course ensures the greatest level of comprehension and retention.
Who Benefits from CBT Direct’s Online Financial Planning and
Financial Services Training?
Our online training course is designed to help individuals who work within the financial industry
and customer services that are newly hired and/or handling new accounts.
What Professionals Will Learn from CBT Direct’s Online Financial Planning and Financial Services Training
Financial planners will learn about what drives their customers to invest and save using practice scenarios.
Our online training will discuss the different types of basic concepts and tax strategies as well as risk potentials
that can impact financial services. CBT Direct will explain optional banking services along with the elements of stocks,
bonds and mutual funds. Additionally, professionals will interpret the differences found within the different styles of
life insurance policies.
Click here to see a detailed curriculum outline.
Our online training will cover the different ways that customer service can affect financial planning including quality
habits to adopt that will increase your abilities. CBT Direct will cover the internal and external forms of customers that
need to be properly identified and handled differently. Financial planners will review question asking strategies that can
be used to create an action plan. Our online customer management course will go over how to improve overall listening and
communication skills. Additionally, CBT Direct will give the learner a good idea on what kind of customers financial planners
would have to deal with along with their different behavioral categories.
CBT Direct will show the proper procedures to use when dealing with disgruntled customers and/or customer complaints
together with tips for handling the stress created by these situations. Financial planners will look at the sales portion
of financial services including maintaining a positive attitude, promoting rapport and considering expert product sources.
Our online training will also cover techniques used to establish winning sales conversational skills as well as cross-selling
tactics and opportunities.
Our online training will offer up information on savings and checking accounts, cash management and commercial services
and IRAs. Financial planners will observe the insurance limitations and benefits that come from the FDIC. CBT Direct will
interpret key regulations and banking acts as well as OFAC and the Bank Secrecy Act. Our online training will also deliver
information on important disclosures and compliance issues that come with the opening of a new account.
It can be tricky working within the financial services industry due to the fact that your customers are more anxious and
hesitant when they are dealing with you and the many different legal ramifications that can be accrued by having poor skills.
With CBT Direct you will be better prepared with the knowledge on how to help and guide even your trickiest customers. Our
online training will cover the laws and acts that are put into place to help your job along with the ways to avoid crossing
those lines. CBT Direct’s Online Financial Planning and Financial Services Training will help you to effectively manage your
customers and their accounts to produce the best possible outcome for the both of you.
Financial Services for New Account Representatives
