DW MKTG 522 Final Paper

Topics: Marketing, Financial adviser, Marketing strategy Pages: 15 (2984 words) Published: March 13, 2015

Hantz Group: A New Era of Financial Planning
Derek Watson
Keller Graduate School of Management
MKTG 522
Marketing Plan Final Paper
Professor Dena Hale
April 22, 2014

1.0 Executive Summary
HantzGroup was started by John Hantz in 1998. He left American Express and brought a lot of financial advisors from them along for the ride. He had a great idea to transform the way people thought of financial planning. Currently, they have a new approach to financial planning. They have implemented the family office approach that gives clients the opportunity to get specialized help from their specialists. I think they should use the power of the internet to help spread the word about their new approach. There are many different ways of advertising on the Internet. They should explore all options to maximize their full potential when it comes to getting new clients. 2.0Situation Analysis

The Hantz Group is a regional financial services firm that was founded in January 1998 by John Hantz. This company was established to provide an alternative to existing financial planning relationships. Financial planning services are offered by various investment and accounting firms. Marketing is a critical part of promoting their services. Some issues they might encounter include government regulation, technological changes, and legal, political, or social issues. FINRA is a governmental agency that monitors financial planning firms. The Hantz Group doesn’t have a marketing department. The financial advisors current way of marketing is through cold calling, seminars, and client referrals.

2.1Market Summary
Hantz Group current market consists of individuals and business owners who have a need for financial planning. The financial planning fees vary depending on the complexity of the client situation. “Based on 1998 to 2007 Survey of Consumer Finances datasets the proportion of households reporting use of a financial planner increased from 21% in 1998 to 25% in 2007, with an estimated increase of almost five million households between 2004 and 2007. Multivariate analysis shows that the likelihood of using a financial planner is strongly related to risk tolerance, with those with low risk tolerance the least likely, and those with above average risk tolerance the most likely to use a financial planner, controlling for income, net worth, age, and other factors (Hanna, 2011). The business owners are usually self-employed, own a rental 2.2SWOT Analysis

1. Pricing fees
2. Integrated financial planning
3. Innovative leadership
1. High employee turnover rate
2. Lack of brand awareness
3. Low employee morale
1. Demand for financial planning services
2. Internet methods to increase revenue growth.
3. New banking services
1. Increased competition
2. Increased rules and regulations
3. Other firms attracting their employees

2.3 Competition
There are a lot of financial planning firms in Michigan. Two of our primary competitors are Ameriprise Financial and Northern Financial Advisors. “Ameriprise Financial have over $700 billion in assets under management and administration. They are a top-10 provider of mutual funds, financial planning, annuities and insurance. They have more financial planning clients than any other firm” (www.ameriprisefinancial.com) 2.4Product (Service) Offering

The usage of the internet will expand the Hantz Group financial planning services. Cold calling is an old form of advertising your services. They should use a multidimensional approach to advertising on the internet. One feature they can utilize it to be on the top of Google list when somebody types in financial planner or financial advisor. They will need an IT specialist too help them with this issue. This will benefit the company in several ways. They will get more prospective clients seeking their services and...

References: Hanna, S. D., (2011). THE DEMAND FOR FINANCIAL PLANNING SERVICES. Journal of Personal Finance, 10(1), 36-62.
Ameriprise.com, https://www.ameriprise.com/about-ameriprise- financial/company-information/, 2014
Northernfinancialadvisors.com, https://www.northernfinancialadvisors.com/services, 2014
Hantzgroup.com, http://hantzgroup.com, 2014
Kotler, P. & Keller, K. (2012). Marketing management. (14th ed.). Pearson Education, Pearson Prentice Hall.
Marketing.about.com, http://marketing.about.com/od/internetmarketingstrategy/a/internettips.htm, 2014
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