Rains Purinton Babcock Wealth Management

Competencies

  • Strategic Analysis & Planning
  • Reorganization/Restructuring
  • Integrated Business Coaching

Challenge

To move mid-level performers at a major wire house to independence and top-level performance.

Background

In 2009, ECI began working with two talented but struggling financial advisors at a major wire house. Through weekly phone conferences and monthly on-site visits, ECI worked on the fundamentals of business productivity and leveraging business relationships. When the team chose to leave the wire house in 2010, ECI assisted in the establishment of what was essentially a start-up business. In the years since, ECI has partnered with the pair, building their strategy of client focus and business growth, and assisting in the execution of every phase of their business. In January 2012, they added a third partner. This is a unique group of individuals, proficient in their craft, engaging and likeable, with “salt of the earth” personalities. They have already achieved amazing success in a short time…and are only beginning!

Results

Rains Purinton Babcock Wealth Management is now recognized as one of the most successful independent financial advisory firms in the Midwest. With ECI’s coaching, this team of savvy financial services providers has multiplied its assets under management, expanded its presence in the community, and then, consequently, expanded its offices to accommodate the growth. Most significant among the metrics is the loyalty of their client base and outstanding performance the team has been able to provide its investors. ECI doesn’t advise on investments but does provide coaching (sometimes daily) on:

  • The defined roles and responsibilities of the partners and the growing staff
  • The establishment of performance parameters, goals, and accountability
  • Clarity of marketing objectives and processes
  • The overall strategic trajectory of the firm

With ECI’s coaching, Rains Purinton Babcock successfully managed the critical months following their transition to become an independent advisory in the spring of 2010 and establish a successful and well-ordered small business. ECI, as a coach and strategic partner, worked with the financial advisors and with the staff to enhance performance at all levels — in big things and small — including the fundamentals (employee handbooks, processes and procedures, budgeting, communication, etc.) and setting and achieving stretch goals.


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