Global Wealth Management Firm

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One of the world’s leading global wealth management companies was poised to introduce a new software upgrade and conversion to their field offices. During the planning process and before the rollout, the company acquired another firm, changing the complexity of the program. Not only did the company need to train their existing field offices on their system upgrade, they also needed to implement the new system and train the acquisition partner’s users on the new software. The extensive project was to be executed in multiple phases over a two-year period.

Business Problem

Limited Internal Resources to Train over 27,000 Geographically Dispersed Users on System Conversion

The top wealth management company did not have the resources to train all new and existing users in the aggressive time frame allotted. This massive systems conversion project meant that the company had to prepare and train over 16,000 financial advisors, 8,600 client service associates, and 1,600 managers on how to perform their current jobs using the newly integrated technology platform — without disrupting business as usual.

In order to meet this demanding schedule, the company decided to deploy a large cadre of instructors to quickly assimilate the new software package and mobilize to field offices for both pre and post-conversion training. Phase 1 of the project required an initial core group of 230 fully qualified trainers and Phase 2 required over 500 instructors. The company elected to seek outsourced solutions for the project through a competitive bidding process (RFP). TTA was chosen from a field of service providers as the only source provider to manage the engagement.

TTA Solution

500 TTA Financial Services Instructors Recruited, Qualified, Trained, and Deployed Nationally

In order to accomplish this major training roll-out, TTA had to identify and skill up the training professionals. Within four weeks, TTA vetted over 1,200 training professionals, and selected a team of 250 for the first phase project roll-out. For the second phase of the training project, another 2,200 trainers were vetted and over 500 training professionals deployed to provide training to the 14,000 employees.

Business Results

The initial results of the project exceeded the planned training outcome. Over 26,000 employees, including financial advisors, support staff, and management were trained on schedule and with no significant disruption to the daily operations.  The training stayed on original conversion schedule, and, most importantly, with minimal impact to the financial analysts trading and execution operations. To accomplish this unprecedented training of over 26,000 employees, we partnered with TTA. They were able to source over 500 trainers for us to use for this extended period of time (3 years), who had worked in the industry, had trained adult learners, and were technologically inclined as well, said Nina Hollon, Executive Director of Desktop Training at Morgan Stanley.