Company: Capital One ShareBuilder
Company Description: More than a decade has passed since ShareBuilder entered the fray of online brokerages, and our core values continue to separate us from the pack. We believe the world of investing is not just reserved for savvy, Wall Street investors – which is why we’re devoted to helping everyday Americans achieve their financial goals.
Nomination Category: Customer Service Categories
Nomination Sub Category: Customer Service Team of the Year

Nomination Title: Capital One ShareBuilder's Transfer-In Team

Tell the story about what this nominated team achieved since January 1 2013 year (up to 525 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

For most self-directed brokerage firms, transfers of assets from one firm to another are handled primarily by a back office operations team. Customer Service teams may step in to help with basic issues, but anything complicated is usually referred back to a processing team with no direct Customer contact. Capital One ShareBuilder examined that process and developed a team devoted to improving the Customer experience for those that have chosen to trust us with their hard-earned assets. The ShareBuilder Transfer-In Team focuses on both the Customer and back office operations. They have the Best in Class* service skills to provide an excellent Customer experience and knowledge of our operations in order to speak confidently to other brokerages and untangle any issues.

The Transfer-In Team reached a crossroads in 2013. It was time to review the process and consider possible expansion. Their original focus was assisting Customers unravel account transfers stuck in the process. Due to improvements, the team found their time spent dealing with fewer, yet tougher and more time consuming transfers. This didn’t require any team additions, so our team coaches focused on another area that frequently causes Customer confusion – retirement account rollovers.

Retirement account rollovers can be very intimidating. Depending on the retirement plan, the steps to complete a rollover can vary dramatically. The requirements rely heavily on rules set by the retirement plan itself. Unfortunately, there is only so much information on thousands of different retirement plans we can provide on our website, so successful rollovers usually require Customers to contact us after requesting directions from their plan administrator. Our Customer Service team has efficiency metrics designed to meet our service level goals and therefore don’t have time for many outbound calls or constant follow-ups with individual Customers. Due to these hurdles, our Transfer-In Team ran a 3-month pilot program where team members were tasked with the following:

•Provide the Customer with one point of contact from start to finish
•Call the retirement plan with the Customer on the line to help them understand the process – regardless of how long the calls took
•Actively provide updates from start to finish – the job is not done until the assets arrive

The results far exceeded expectations. For many Customers, it reduced the processing time by several weeks since the team was often able to get a check sent out right away just by helping the Customer through the conversation with their plan administrator. We also found that having a single point contact through the entire process increased rollover completion rates and Customer satisfaction. The completion rate of the pilot team was 75% compared to a 25% rate for our control group, which measured our “business as usual” process. The Customer survey scores for the pilot team averaged 11% higher than the control group at an outstanding 4.94 out of 5.

Given the team’s stellar results, it was an easy decision to make the pilot group a permanent part of the Transfer-In Team. The new team members were hired at the end of 2013 and are busy delighting Customers with their retirement account rollovers.

*2014 Stockbrokers.com 5 Stars “Best in Class” rating

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Provide a brief (up to 125 words) biography about the leader(s) of the nominated team:

Bob Weintraub
Head of Customer Service, ShareBuilder by Capital One

With contagious enthusiasm, Bob encourages a challenging and rewarding work environment, and has a direct hand in hiring and developing only the best people. He oversees day-to-day operations for our 140-person Sales and Service call center supporting 1.3M brokerage Customers. Bob maintains a down-to-earth demeanor while leading multiple groups including Sales Associates, Coaches, Systems and Workforce Management, Communications, Training and Support. His genuinely positive attitude has earned him the nickname “Good News Bob.”

Bob joined ShareBuilder as the Director of 401(k) Sales. Once he got that team in shape, he began his Customer Service journey in January 2009. Bob holds an Executive MBA from the University of Washington and attended the College of William and Mary.

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