Working in cooperation with Benchmark (Toronto), we helped create standards for the accreditation of mortgage brokers across Canada. Our role in this project was primarily concerned with standards for examinations and testing within mortgage brokerage programs.
Following a process designed by The Brondesbury Group, we are involved in an ongoing assessment of the suitability of preparation of licensed public accountants in Ontario. One of the projects recently led to approval of an additional accounting body in Ontario, while a more recent project focuses on reviewing an existing provider. Our work focuses on both examinations, and the integration of information related to education and work experience with exams. This is a team project involving the use of many outside experts identified by our firm.
We carried out an extensive review of both academic literature and relevant public sector reports to assess the extent to which commission-based versus fee-based compensation changes the nature of advice and outcomes for investors. The study draws clear conclusions about the impact of embedded commissions.
View ReportA major insurance education organization offers more than a dozen courses for training people in various aspects of insurance. Each course has an exam, and taken together, far more than 10,000 exam papers are written each year. Our role was to assess the quality of the exams in each course, as well as the systems which support the exam process, starting with the earliest stages of exam development and following the entire process right through to its end. The work provided the organization with suggestions for future improvements, as well as providing a base for building an item bank.
Licensing bodies in several provinces are considering the possibility of moving from a single licensure exam with a single pass score to a model that has a separate exam for each content domain. Candidates will need to pass each and every exam with the same score. This paper examines the positive and negative impacts of this approach, as well as strategies for mitigating some of the potential problems.
On behalf of a major securities regulator, we investigated consumer understanding of disclosure information, as well as their preferences for getting information. Preferences include usefulness of information for decision-making, timeliness, convenience, and delivery methods.
View ReportAn association of securities regulator engaged our services to review proposed new rules for cost disclosure and performance reporting. Our role was to ensure that the legislation met consumer needs and addressed their concerns.
Using methods akin to a therapeutic interview, a select group of top mutual fund clients were interviewed about their advisor relationships. The aim was learning what our client could do to help good advisors improve their sales and service. The in-depth personal discussions identified what key investors wanted from their advisors but didn’t get, as well as identifying the ‘secrets’ they were reluctant to share with their advisors. The selection of clients for the interview was based on an extensive analysis of unitholders and their buying patterns based on data drawn from several unitholder databases.
Over the past ten years, we have monitored advertising and public relations expenditures for a major organization, while tracking their impact on consumer awareness and web visits. This study looked at the impact that expenditures have made over that time, both on a yearly basis and cumulatively. It includes an assessment of the strategies that have worked best.
On behalf of an export credit agency, The Brondesbury Group looked at competition in the credit default risk market. This market has become increasingly complex and now includes export credit agencies, private insurers, investment banks and project finance units. Our analysis focused on identifying market opportunities, handling of front and back office, product differentiation, and electronic delivery capabilities. It relied on a mix of interviews with insurance/ECA competitors and senior trade bankers, as well as intelligence gathering from internet and commercial databases. The 30+ recommendations for responding to market changes help to position this ECA for the future.
This study evaluates common methods of financing transportation-for-hire in the US, as seen from the viewpoint of service providers, equipment owners, and equipment vendors. We assess buyer motivation and decision-making, as well as the competitive position of major providers. Recommendations for desirable new services are provided.
Our role was providing value-added analysis and interpretation for a syndicated survey of Cash Management in Canada. In particular, we took survey data and provided customized analysis to help pinpoint participant weaknesses and opportunities. This was used to help us provide recommendations for action geared to the unique positioning of each bank participating in the study.
Discussions with half of all mid-sized Defined Benefit plans in Canada looked at current investment inside and outside of Canada, including investment in alternative asset classes. Looking to the future, the study assessed the likely changes in US and international investment over the next two years. Countries and regions with specific investment appeal were identified.
A major insurance education organization offers more than a dozen courses for training people in various aspects of insurance. Each course has an exam, and taken together, far more than 10,000 exam papers are written each year. Our role was to assess the quality of the exams in each course, as well as the systems which support the exam process, starting with the earliest stages of exam development and following the entire process right through to its end. The work provided the organization with suggestions for future improvements, as well as providing a base for building an item bank.
A major financial institution wanted to improve the performance of its candidates on licensing exams. A review of course material, internal examinations and best practices in exam development provided guidance for improving performance.
We identified the aspects of service that make the most difference to client loyalty and spending. In addition to interviewing benchmark competitors, our work reviewed existing research (including our own) to identify what changes client behaviour for better or worse. In cooperation with our client, we then developed a framework for comprehensive service standards for the very few things that really matter to clients. The standards are tested with clients for appropriateness and impact. A strategy for implementation is the final element of the project.
Interviews with active members, lapsed members and non-members of a financial industry association helped to highlight its strengths and weaknesses, as well as gauging its expectations for the future. We translated this into opportunities for growth and strategic changes to help the organization build loyalty and numbers in its membership.
Brondesbury provided recommendations for organization of management structure, deployment of sales staff, handling of front and back office, product differentiation, and electronic delivery capabilities for a global trade bank. Strategy was based on a major competitive intelligence initiative.
This study focused on fostering referrals between banks and their associated investment dealers and asset managers. After identifying a set of peer banks and their related firms, we interviewed senior executives about their referral compensation practices and philosophy. Each participant received a summary of our findings. For our client, the information was adapted to their unique circumstances and led to a set of more than 30 recommendations structuring fair compensation among its business arms.