Business Development Fund Sample Clauses

Business Development Fund. The Business Development Fund is to be used by Planning Teams and Business Protection Specialists to recognise sales from NAB referrals and to fund client acquisition and ongoing service activities within the following parameters: ▪ Available funds are to be used solely for client acquisition and ongoing service activity, i.e. activity that will help the team to: o enhance the teams’ financial planning profile and to build their networks e.g. local advertising or sponsorship o enhance the teams’ ability to write more business e.g. increasing Practitioner skill levels through professional development o build on their referral sources e.g. appropriate rewards, in accordance with NAB policy, for NAB banking staff who provide referrals ▪ The Business Development Fund is not to be used for mandatory training or general stationery expenses. ▪ As the Business Development Fund accrues to the team, rather than individual Practitioners, there is to be team consensus on how the funds are to be used ▪ All proposals are to be submitted and approved by the team’s Practice Development Manager prior to incurring any expense ▪ All funds stay within the team pool when a Practitioner leaves the team ▪ Excess BDF funds may, at the discretion of NAB Financial Planning, be cashed out where all reasonable attempts to use the funds as designed have been exhausted. Further information regarding the calculation, and process for claiming Business Development Fund expenses, are outlined in the NAB Financial Planning Policy Statement - Remuneration.
Sample 1
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Related to Business Development Fund

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