MEMBER SURVEY 2018-2019RESULTSANALYSIS RECOMMENDATIONS

April 9, 2019

RESPONDENT PROFILE

MEMBERS MORE ALIGNED THAN THEY REALISERESPONDENT PROFILE 1

Former VBA

member 55%

Former CFA

member40%

New to the society 5%

Original Membership

• 134 respondents; 12% of membership

• Balanced and representative response-rates between the two former organisations and

among the types of designations

• Respondents are a fair representation of the demographics of our membership

RBA 40%

CFA charter

44%

RMFI 2%

CFA, RBA, RMFI

candidate3%

None of these

designations 11%

Designation

RESPONDENT PROFILE 2

Attends events

regularly 23%

Attends 1 or 2

events a year45%

Does not attend events; makes use of other

benefits20%

Volunteer/committee

member12%

Active within the Society

Yes 57%

No 32%

Not Sure6%

Other 4%

Subject to MiFID?

• The most active members made a effort to return the survey; this can skew results

• Majority are or will be subject to MiFID compliance requirements, but not as many as we may

have initially expected

• Three quarters of respondents have been in the industry longer than ten years

Under 3 years 1%

3 to 10 years 19%

10 to 25 years 53%

Over 25 years 25%

Retired or left the industry

2%

Years of Experience

MERGER EXPERIENCE AND CULTURE

HALF HAVE EXPERIENCED NO CHANGEMEMBERS’ EXPERIENCE OF THE MERGER

Have benefited / found it a positive

experience32%

Have not benefited / found it a negative

experience14%

Have experienced no change

49%

Not applicable,

new member2%

Other 3%

Benefits resulting from the merger (all members)

Have benefited / found it a positive

experience 32%

Have not benefited / found it a negative

experience 8%

Have experienced no change

60%

Former CFA Members

Have benefited / found it a positive

experience 35%

Have not benefited / found

it a negative experience 20%

Have experienced no change

45%

Former VBA Members

● Most members appear to not

experience a change in culture or

values due to the merger; this is

positive feedback for the society.

● Most members feel a part of the

new society and have positive

feelings about the merger.

● There does not appear to be a

significant difference in opinion

between former VBA and former

CFA members.

● Members with a negative

experience are adversely

outspoken.

IMPACT ON CULTURE AND VALUES MOSTLY POSITIVECULTURAL INTEGRATION

1

5

11

14

21

23

4

4

11

9

24

31

6

1

4

0 10 20 30 40 50 60

Not applicable; a new member

The new society no longer represents my corevalues

Cultural differences prevent me from feeling part ofthe new society

Culture is not important to me as long as thesociety functions effectively

The new society represents my core values

I feel part of the new integrated society

I have not noticed any change in culture or values

Impact of Culture and Values

Former CFA Former VBA New to society

FEEDBACK SURPRISINGLY POSITIVEMEMBER COMMUNICATIONS

(Somewhat) Positive

experience52%

Neutral experience

28%

(Somewhat) Negative

experience11%

No opinion 8%

Website Feedback

(Somewhat) Positive

experience73%

Neutral experience

20%

(Somewhat) Negative

experience5%

No opinion 3%

Email communications feedback

• Considering that we already know that our communications platform needs ‘work’ the survey feedback on our website and

emails was surprisingly positive.

• The upgrading and refining of our communications strategy (including language policy, communications calendar, event

promotions, newsletters, website and social media strategies) is a priority and a work-in-progress.

● Written content from the society and CFA

Institute are the most highly valued benefits

● Access to a diverse network, and the

opportunity to network are highly valued

● Events, volunteering, committee membership

and outreach to regulators and the industry

are close behind; but half as popular as

written content

● PE Modules, Members App and Career

Development have low name recognition

● More analysis per grouping on the following

slides

EVALUATION OF MEMBER BENEFITS

7

13

14

24

25

26

33

33

53

53

0 10 20 30 40 50 60

Career Development

Members App

PE Modules

Industry and Regulatory Influence

Volunteering/Committees

CE/PE Events

Diverse Network

Networking

VBA Jounaal

CFA Institute Content

Respondents

Most added value members benefits

MEMBER BENEFITS

● One third of respondents consider access to CFA Institute content as an important member benefit.

● However, nearly a quarter report they had not (yet) accessed the content, or did not know how to.

● One third of respondents appreciate the VBA Journaal as an important member benefit and make use of it.

● Some respondents recommended more English content in the VBA Journaal.

● Some respondents would like to see an eco-friendly digital VBA Journaal.

BY FAR THE MOST POPULAR RESOURCES FOR MEMBERSVBA JOURNAAL AND CFA INSTITUTE CONTENT

● Networking is a valued member benefit in which many members participate.

● 20% of respondents consider access to a diverse network and engaging with members diverse in background, experience,

age, gender and/or perspective, an important value add of the society.

● Over half report not (yet) having benefitted from this diversity.

● Members have differing experiences of the mixing of the two societies. Some report that members mix well and appreciate

meeting new people with different backgrounds at events. Far more report that members tend to stick in their groups at

events and do not open up to others (especially non-dutch speakers feel excluded). Some claim that the added diversity

actually leads to less cohesion or miss seeing familiar faces at events.

A DIVERSE NETWORK IS ADDED VALUENETWORKING

● About 15% or respondents consider live events a crucial member benefit (behind the added value of written content).

Because mostly active members responded to the survey it is difficult to assess what percentage of members attend events.

There were several remarks about the events program being irrelevant (for the specific respondent), too commercial or too

Amsterdam-focused.

● About 15% of respondents are members of a committee and consider participation a useful member benefit. However, only

20% of respondents were aware that this is even a member benefit. Several members report wanting to get involved, but do

not know how, or where to go.

● About 20% of respondent are aware of our outreach efforts with regulators; as many find this an important benefit, yet less

than 10% have profited from these efforts. Several members find that we don’t do anything useful on this front.

ACTIVE PARTICIPATION AND OUTREACH CAN IMPROVEEVENTS, COMMITTEES, AND INDUSTRY ENGAGEMENT

● PE Modules need reconsidering. Even with the doubled membership base and vouchers for free modules (VBA members)

participation in the PE Modules has been lower than expected. The reasons can be manifold 1) the choice of topics, 2) the

price 3) lack of understanding what they are 4) low name recognition or confusion (we also offer events, workshops, VU PE

blocks and RMFI blocks on our website).

● Career Development has low ‘name recognition’ and participation rates. This can be due to 1) the committee does not

have enough volunteers, 2) we have not been clear in defining and promoting the career development activities, 3) the

Mentoring program, the most visible CD activity, has stalled. Yet, it is too early to abandon Career Development efforts. The

new competency-based CPD platform will give us a clear foundation upon which to build our CD activities and provides

strategic direction.

● The Members App has not been utilized or promoted to it’s full extent because we cannot yet add our local events to the

App. We are working on ideas to circumvent this. At that point we can put more efforts into promoting this benefit.

NEED RETHINKINGPE MODULES, CAREER DEVELOPMENT AND MEMBERS APP

MEMBERS SPEAK OUT ON STRATEGIC PRIORITIES AND FOCUSCORE VALUES AND FOCUS

13

3

3

19

23

32

39

41

48

63

75

0 10 20 30 40 50 60 70 80

Other

Accountability

Client service/profitability

Raising standards

Market transparency

Brand awareness

Industry engagement

Regulatory outreach

Visibility

Ethics, Integrity and Trust

Education

Responses

Strategic Focus

13

10

13

16

17

20

35

35

44

54

57

0 10 20 30 40 50 60

Other

Diversity

Committees/volunteering

Ethics

Regulatory compliance

Recognition of designations

Impact in the industry

Career advancement

Networking

Education programs

Skills/Competence

Responses

Member value should focus on

• Members’ strategic priorities seem to be very much in line with our own Mission and Vision.

RECOMMENDATIONS

SMART MARKETING

● Promote member benefits in a brief, interactive way

(one-pagers/pictograms)

● Do a better job of communicating our

accomplishments, especially our regulatory outreach

efforts, and how this benefits the member

● Video tutorials on how to for record CE/PE and use the

Members App

● Make CFA Institute content more visible; create video

tutorials for accessing CFA Institute content

SOME QUICK-WINS AND SOME LONGER-TERM PROJECTSRECOMMENDATIONS 1

SMART COMMUNICATIONS

● Fewer emails, more structured and better targeted to member

demographics

● A communications calendar to assist in planning

● Continue to develop and improve the website

● Improve member statistics to better target programming and

support diversity

● Update VBA Journaal by creating an interactive digital version

and including more English content

ADAPT EVENTS/PROGRAMMING/CONTENT

● An integrated platform to provide guidance to

members, committees and the office for continuing

education

● Diversify locations (The Hague, Rotterdam, Utrecht)

● More ‘real’ investment content; practice-oriented;

economic analysis; asset allocation, etc.

● Re-think the PE Modules

● In addition to or instead of live events, encourage

committees to be creative in their content delivery;

consider white papers, opinions, research and articles

SOME QUICK-WINS AND SOME LONGER-TERM PROJECTSRECOMMENDATIONS 2

FOR THE PROJECTS PIPELINE

● A broader platform for and assistance to members and

committees who want to contribute written content

● Implement Volunteer Management to encourage, increase and

structure member participation through committees and projects

● Facilitate member mixing at events; highlight the benefits of

diversity to our members; promote diversity in committees

● Repeat the member survey in a year to gauge integration and

satisfaction; consider revisiting the cultural integration project

● Revitalise and support Career Development activities