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Credential Financial Inc

British Columbia, Canada
Company Profile
Credential is the leading provider of wealth management services to over 200 credit union partners across Canada. Credential is part of the Aviso Wealth group of companies.
The Challenge
As one of Canada’s largest wealth management providers, Credential Financial Inc. has achieved significant growth. Expecting that growth to accelerate even further, they engaged us to lead an eight-month multi-site transformation project to identify and create capacity for managing growth in the areas of Compliance, Credential Direct, and Operations and Service. A project team was assembled to work on this high-value initiative, including the CEO, SVP of Operations and Services, Human Resources, Communications, Managers and Supervisors.
The Objectives
Business Process Review: We conducted a comprehensive review of the current organizational systems. This allowed us to identify changes that would streamline current processes and ensure a service-oriented experience for investment representatives.

Design and Implementation: We designed the project to improve employee engagement through a better understanding of the end-to-end processes and prepared the organization for the proposed changes. Using our hands-on approach, we worked alongside Credential management to ensure smooth implementation of the new processes.

Development of a Management Toolkit: Our Business Process Improvement team worked with executives to develop a comprehensive management toolkit with Key Performance Indicators (KPIs) to measure success.

The Result
As a result of their engagement with us, Credential achieved process and service improvements that resulted in an ROI of 2.8 to 1 on external cost. In other words, the project paid for itself in just over four months. Over the course of the project, Key Performance Indicators and service levels improved in every department by an average of 24%. Credential’s partners also noticed an improvement in service.

The project had a significant impact on the organizational culture of the participating departments, particularly through deepening the level of active management and reinforcing Credential’s core values. The management toolkit allowed managers to measure processes in real-time and foster a culture of continuous improvement.