Case Study | Global Wealth Management Firm
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.
Limited Internal Resources to Train over 12,000 Geographically Dispersed Users on System Conversion
The wealth management company did not have the resources to train all new and existing users in the aggressive time frame allotted. 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.
500 TTA Financial Services Instructors Recruited, Qualified, Trained, and Deployed Nationally
TTA recruited and qualified over 500 instructors from across the United States with the requisite background to supplement the company’s training staff. In addition, TTA assembled a project management team that worked closely with the wealth management company’s team to oversee the project including the myriad details surrounding qualifying and deploying the large number of instructors.
In order to provide a uniform training message to all field offices, the group of instructors was trained on the new software platforms in centralized train-the-trainer events. To improve efficiencies and reduce travel costs, qualified trainers were identified for each region and deployed to sites in and around their location whenever possible.
Phase 1 of the project was completed with 230 trainers and Phase 2 completed with 500+ trainers. Initial training was delivered in a classroom setting with reinforcement learning delivered via desk side coaching. The initial results of the project exceeded the planned training outcome. The wealth management company has successfully trained 12,200 field office users on their financial software packages according to their original conversion schedule, and, most importantly, with minimal impact to the financial analysts’ trading and execution operations.