Magazine article American Banker

Training Is Marketing One's Selling Point

Magazine article American Banker

Training Is Marketing One's Selling Point

Article excerpt

Marketing One points with pride to its training programs.

These sessions, for brokers and other bank representatives, help the Portland, Ore., company distinguish itself from the pack of third-party marketers, officers say.

Training traffic is heavy at Marketing One's headquarters, where most of the courses are held.

Last year the company trained 1.200 people, including many involved in a large program rolled out by Wells Fargo & Co., San Francisco.

Demand Has Accelerated

In all, 5,000 brokers and bank employees have been trained by Marketing One during the last 10 years.

Most of the training came in recent years, as banks stepped up there investment product programs.

To keep pace, Marketing One recruits licensed brokers and helps them hone their skills and adapt to the bank environment.

"We think we have a bench-mark training program," said company spokesman Michael Maher. "It's something the larger clients demand."

Marketing One offers a variety of training programs.

Variety of Programs

Sales reps can cover mutual funds or annuities in four-day sessions, or come in for eight-days and receive training in both investment product areas.

Marketing One has seven-day sessions for administrative assistants and five-day programs for sales managers.

Last year, the company booked 2,000 nights worth of hotel rooms to accommodate the crush of bank representatives taking these courses.

Bank brokers make up the lion's share of those undergoing training, and Marketing One tailors its approach to them.

A Softer Sell

The company sensitizes brokers to the softer-sell cultures of banks.

This is especially important since many brokers do not come from banks.

Brokerage firms used to supply most of Marketing One's recruits for bank programs, but now they account for just a quarter of trainees. …

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