Financial Services Representative

Time-Based Apprenticeship
Sponsoring Company:
Principal Financial Group
O*Net Code
41-3031.00
Rapids Code
3007
Req. Hours
13200
State
DC
Created
Apr 04, 2021
Updated
Apr 04, 2021

Time-Based Skills

5 skill sets | 30 total skills | 13200 total hours
Prospect for business - 3000 req. hrs
Create ideal client profile
500 hrs
Identify target markets
500 hrs
Create a marketing plan
500 hrs
Create language scripts
500 hrs
Execute marketing plan
500 hrs
Set client appointment
500 hrs
Convert prospects to clients - 11400 req. hrs
Monitor marketing plan
700 hrs
Engage client
700 hrs
Conduct fact-finding
700 hrs
Build risk strategy
700 hrs
Build securities strategy
700 hrs
Build benefits strategy
700 hrs
Present risk recommendations
700 hrs
Present securities recommendations
700 hrs
Present benefits recommendations
700 hrs
Revise recommendations based on client feedback
700 hrs
Complete the application process
700 hrs
Record client history after each interaction
700 hrs
Manage client relationships - 12000 req. hrs
Forecast open and closed clients
200 hrs
Initiate routine client service needs
200 hrs
Respond to client service’s needs
200 hrs
Maintain ongoing professional development - 12600 req. hrs
Identify industry trends and best practices
200 hrs
Attend specific training
200 hrs
Maintain licensing requirements
200 hrs
Maintain compliance documentation - 13200 req. hrs
Submit compliance report and trade blotters
100 hrs
Maintain checks and security logs
100 hrs
Maintain gift and entertainment logs
100 hrs
Maintain advertising log
100 hrs
Maintain marketing log
100 hrs
Maintain correspondence log
100 hrs

Technical Instruction

Investigate financial sales as a professional career
Apprentice identifies personal traits appropriate for financial sales
# | 12 hrs
Apprentice describes the sales products
# | 12 hrs
Apprentice identifies sales work environments
# | 12 hrs
Apprentice describes typical tasks of a financial sales professional
# | 12 hrs
Apprentice identifies potential opportunities of a career in sales
# | 12 hrs
Apprentice identifies potential challenges of a career in sales
# | 12 hrs
Apprentice conducts an interview
# | 12 hrs
Identify the traits and skills necessary to become a selling professional
# | 12 hrs
Describe the variety of work environments for financial sales people
# | 12 hrs
Outline common challenges of financial sales careers
# | 12 hrs
Outline common advantages of financial sales careers
# | 12 hrs
Outline consultative/solution-based selling approaches in finance sales
Apprentice characterizes ways that a sales person can become a trusted advisor
# | 12 hrs
Apprentice identifies short term payoff of a consultative/solution approach
# | 12 hrs
Apprentice identifies long term payoff of a consultative/solution approach
# | 12 hrs
Apprentice identifies potential break downs in the sales process
# | 12 hrs
Apprentice identifies potential recovery techniques
# | 12 hrs
Apprentice determines role of technology in the sale process
# | 12 hrs
Apprentice determines how information is disseminated in the sales process
# | 12 hrs
Apprentice explores professional development opportunities
# | 12 hrs
Describe the role of needs in consultative and solution selling
# | 12 hrs
Describe the long term vs. short term payoff from a consultative/ solution approach
# | 12 hrs
Describe how technology and information dissemination impacts the role of the sales person
# | 12 hrs
Describe the importance on going learning in consultative/ solution approaches
# | 12 hrs
Demonstrate relationship selling techniques
Apprentice responds to buyer's business concerns
# | 12 hrs
Apprentice addresses buyer objections
# | 12 hrs
Apprentice proposes a solution that addresses buyer need
# | 12 hrs
Compare and contrast the relationship selling model vs. The traditional model
# | 12 hrs
List the key attributes of relationship selling
# | 12 hrs
Examine the psychology of seller and buyer behavior
Apprentice differentiates between seller and buyer behavioral cues
# | 12 hrs
Apprentice determines the possible impact of seller and buyer behavior
# | 12 hrs
Apprentice determines common economic needs including price, performance, dependability and durability
# | 12 hrs
Apprentice describes buyer movement from arousal, information collection, to evaluation and decision
# | 12 hrs
Apprentice gathers information from buyer
# | 12 hrs
Apprentice identifies possible buyer need based on information
# | 12 hrs
Apprentice differentiates between rational and emotional buying
# | 12 hrs
Describe various buyer motives
# | 12 hrs
Identify the steps in the consumer decision making cycle
# | 12 hrs
Examine strategies to use in the selling cycle that reflect buyer psychology and personality
# | 12 hrs
Examine the components of the communication process
# | 12 hrs
Describe methods for gathering needs information
# | 12 hrs
Demonstrate ethical selling techniques
Apprentice responds to objections with honesty
# | 12 hrs
Apprentice accurately represents product/ service
# | 12 hrs
Apprentice identifies prospects values
# | 12 hrs
Apprentice respects buyer concerns
# | 12 hrs
Examine elements of ethical sales
# | 12 hrs
Determine how and where ethical selling standards have been adapted
# | 12 hrs
Explain the effects of ethics on the relationship selling model
# | 12 hrs
Practice the process of prospecting
Apprentice describes methods to generate leads
# | 12 hrs
Apprentice outlines an appropriate target market
# | 12 hrs
Apprentice researches web and directory resources
# | 12 hrs
Apprentice determines realistic criteria
# | 12 hrs
Apprentice constructs a phone script for prospecting
# | 12 hrs
Apprentice uses a phone script to contact and set up a meeting with potential prospect
# | 12 hrs
Describe the importance of prospecting
# | 12 hrs
List the components of the prospecting pool
# | 12 hrs
Explain the varying contact strategies
# | 12 hrs
Examine elements of a sound a phone script
# | 12 hrs
Conduct a needs assessment
Apprentice uses an effective opening question
# | 12 hrs
Apprentice applies active listening techniques
# | 12 hrs
Apprentice uses trial closing questioning techniques
# | 12 hrs
Apprentice adjusts to meet buyer objections
# | 12 hrs
Apprentice uses different levels of questioning during a sales presentation
# | 12 hrs
Apprentice determines needs of buyer
# | 12 hrs
Apprentice outlines best practices for finding appropriate networking events
# | 12 hrs
Apprentice reflects on the challenges of navigating the boundaries between personal and professional relationships
# | 12 hrs
Apprentice identifies ways social media can be used to build professional relationships
# | 12 hrs
Apprentice reflects on the ways in which they can develop a personal brand
# | 12 hrs
Apprentice describes the role of accountability and ethics in building a sales network
# | 12 hrs
Explain the different types of questions that can be asked to determine prospect/client wants and need
# | 12 hrs
Conduct a selling presentation asking different levels of questions
# | 12 hrs
Explain the importance of listening
# | 12 hrs
Determine various strategies to improve listening
# | 12 hrs
Describe the role of social media in today's sales environment
# | 12 hrs
Outline the role of relationship building in the sales process
# | 12 hrs
Describe best practices in networking
# | 12 hrs
Describe the role of authenticity in professional relationships
# | 12 hrs
Demonstrate negotiation techniques
Apprentice describes the role of planning in the negotiation process
# | 12 hrs
Apprentice differentiates between negotiable and non-negotiable items
# | 12 hrs
Apprentice describes the ways in which contract terms impact a company's bottom line
# | 12 hrs
Apprentice identifies the buyer and what control they have over negotiation
# | 12 hrs
Describe the importance of having a plan for a negotiation
# | 12 hrs
Identify the role of the key points that are negotiable and non-negotiable items
# | 12 hrs
Explore the pre-negotiation planning process
# | 12 hrs
Negotiate prospect objections
Apprentice approaches the objection from the buyer's perspective
# | 12 hrs
Apprentice asks buyer clarifying questions
# | 12 hrs
Apprentice asks closed and open-ended questions where appropriate
# | 12 hrs
Apprentice uses active listening techniques
# | 12 hrs
Apprentice recognizes the business challenge behind the objection
# | 12 hrs
Determine the difference between buyer objections and buying questions
# | 12 hrs
Review steps in the negotiating process
# | 12 hrs
Role play a negotiating situation
# | 12 hrs
Establish a system to reconcile prospect objections
# | 12 hrs
Practice closing techniques
Apprentice asks open and closed ended questions
# | 12 hrs
Apprentice addresses prospect concerns
# | 12 hrs
Apprentice summarizes buyer concerns
# | 12 hrs
Apprentice crafts a proposal that addresses objections
# | 12 hrs
Apprentice outlines next steps once objections are met
# | 12 hrs
Explain the different types of closing strategies
# | 12 hrs
Identify and determine when closing opportunities arise
# | 12 hrs
Break down the components of team selling
Apprentice determines scope of sales representative role
# | 12 hrs
Apprentice differentiates between facilitating and directing
# | 12 hrs
Apprentice identifies benefits of team selling
# | 12 hrs
Apprentice determines role of account managers
# | 12 hrs
Apprentice determines role of inside sales representatives
# | 12 hrs
Apprentice determines role of customer service representatives
# | 12 hrs
Describe the importance of assessing team members strengths and weaknesses
# | 12 hrs
Describe instances where various sales and customer service people might be involved in a sales process
# | 12 hrs
Examine the importance of assessing customer need when implementing a team approach to a sale
# | 12 hrs
Describe how product complexity impacts approaches to team selling
# | 12 hrs
Apprentice determines own area of expertise in comparison to others on the team
# | 12 hrs