For some reason, the old movie Stripes has been replaying on cable TV recently. In one hilarious scene, Bill Murray and his platoon stay up all night to prepare for their graduation ceremony. Still in their basic clothes, they wake up just in time to hustle over to the graduation. All the other platoons are dressed in their formal uniforms. As they arrive in aggressive fashion, they catch the eye of the General who asks, “Where have they been?”
Bill Murray’s character shouts, “Training, sir!” The General then asks, “What kind of training?” and Bill replies, “Aaaaaarrrmy training, sir!” The platoon is later awarded with working on the General’s special project. See what proper training can get you?
Advisors often look for the newest technology, hoping to gain a competitive edge in efficiency or client service. After dedicating countless hours transitioning and learning a new system, they cycle back to seeking technology that is shiny and new. Certain studies indicate that the average user is proficient in only 60% to 80% of their systems. There are many reasons for this, the primary one being that proficiency on a system is not a core reason for being. If we are taught 10 items, we are lucky to retain half. Collaboration helps to retain a few more, but when roles and colleagues change, it is easy for knowledge to get lost.
Some features of a system may not be needed right away and therefore are put aside. When one process changes, others may be impacted too. Over time, the core features of a system become well-known and are utilized often. However, others are forgotten and become underutilized. Even when new features are added, they can fall to the wayside if not adopted right away.
This is where training comes in—not just upfront, but continual training. Fi-Tek offers continual training in many forms. Live sessions on a variety of topics and speakers are offered throughout the year. Topics range from Operational and Administrative to Investment-related. These sessions are recorded and made available 24/7 on our informational hub: FT Connect (FTConnect.Fi-Tek.com).
Also, on the FT Connect site are monthly updates, release notes, How-To videos, and more. FT Connect is meant to be utilized by users of all skill levels, whether it be for an introduction or a refresher. In addition to virtual training, our Relationship Managers and Client Service Reps constantly travel to train and support our advisors. These visits may include updates on our latest developments, refreshment courses, or just a general check-in. Not to mention our annual conference where users come for personal instruction and presentations on the most recent Fi-Tek system advancements.
Training is essential to advisors in many ways—not only on an industry level but also on a functional level. Fi-Tek recognizes the criticality of training, both initial and ongoing, to keep our users up to date and efficient. This helps our clients serve theirs better. If there is an area or topic you would like us to help train on, please let us know, and we will take care of you.
Author: James Okamura, CFA, CFP, AWMA
Senior Managing Director
