Many Americans are woefully underprepared for retirement, but only one in five credit unions provides investment or wealth management services. This creates a tremendous opportunity for credit unions to attract new members and enhance relationships with existing members by offering services people are currently getting elsewhere or, in many cases, not at all.
If you do not offer these services to members, Creative Planning can help you quickly implement a simple yet robust wealth management program that benefits your organization and the members you serve.
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If your credit union already offers a base level of these services, the Creative Planning Strategic Advisor Program is designed specifically to complement your existing wealth management services. Our program is not intended to replace or compete with your offerings but to complement and enhance the overall member experience, maintaining your institution as the “go-to” source for all financial needs. We incorporate our wealth management services as part of your core offerings to deepen and strengthen your relationships with your members.
Whether your wealth management program is new or mature, our goal is to partner with you to elevate your offerings, improve existing relationships, and generate new business opportunities. We offer a turn-key solution customized for your organization. Our program will allow you to leverage the size, scale, and expertise of one of the largest independent wealth management firms to address member needs. We offer marketing collateral, tools, forms, training, and support to maximize our partnership and improve your program’s overall success. Your team members will have everything they need to succeed.
We also provide competitive payouts with a simplified process for ease of use and effective incentives. This program requires very little overhead and delivers a meaningful revenue stream not tied to loans or deposits.
There are many competitive pressures to expand your services and offerings; at the same time, many restrictions and constraints can limit your ability to be all things to all people. That’s why a strategic partnership makes so much sense. Working together, we can give your current members and top prospects many of the services they demand – strengthening relationships instead of straining them. Additionally, our partnership will work to improve your brand and appeal in your local market.
Clay Baker is a director at Creative Planning, where he heads the Strategic Advisor Program and helps companies establish and enhance their wealth management offerings. He has extensive experience in many areas of wealth management and guidance solutions through a career with three major financial services firms.
Creative Planning is one of the top independent wealth management firms in America, with over $47 billion in assets (as of December 31, 2019) and advisors serving as fiduciaries to clients in all 50 states. Our approach is different. We take a comprehensive, financial planning-led approach with every client. We can also provide your members with a range of in-house services, including tax preparation, insurance, and estate planning. This means we can assist your clients with their needs from conception to implementation in almost any area of their financial lives.
Credit Union Magazine’s Spring 2022 edition profiles four Credit Union Heroes and examines CUNA's advocacy priorities, the advocacy army, and financial well-being for all.
