Fidelity CMO Learning Plan

The Learner

The Learner is the Client-Facing Planning Associate. They researched CMOs in their initial Series 7 training, but they need to review the information to be confident with clients. This indicates that a cognitivist approach will work best, since we are connecting new information (scenarios) to prior knowledge. Since we are addressing the media influence, Problem-Based Learning grounded in cognitivism is an appropriate approach to focus learning around the specific scenario.

Learner confidence is key in this situation, because their clients may have a false sense of confidence due to media hype around CMOs. In this case, the Planning Associate’s confidence should encourage the learner to follow our recommendation that CMOs are risky. The temptation is to create learning around the details and complexity of CMOs, but the learner needs to understand how to simplify and remove the complexity of CMOs that conceals their risk.

Finally, since local investment centers serve diverse markets with varying market understanding. I would suggest incorporating connectivist approaches to facilitate interation between colleagues. These interactions can be formal (conference calls/meetings) or informal (slack chats/watercooler).

The User

The user, the Planning Associate/Learner, is receiving this module for a specific scenario. Therefore, this module is in addition to their regular routing and may interrupt their typical training routine as well. Combined with the need to simplify the CMO concept for clients, a short, single-page responsive design will allow the user to load content effectively as needed and view it quickly from any device at convenient times. We can link to resources that contain more encyclopedic knowledge about CMOs. The user can see all of the content at a quick glance, which should encourage wider completion.

Since, this is an ongoing issue, speed and ease of deployment is a priority to get the module in the field. Additionally, this module can serve two groups of users. Primarily, the learner is the user. However, we can incorporate resources that the Planning Associate/Learner can use to inform the client. Images can be formatted for universal use on screens, office monitors, etc. In short, we can tailor these resources that can be used with the client as well. This also provides the LXD group with an extra download analytic to monitor learner activity and module usage.

In subsequent user interviews, we will explore their needs more fully and inquire about specific expectations. For instance, users may prefer to learn by a card deck/captivate format and what types of communication they prefer. We would also explore the means they use to communicate within their office regularly to include connectivist approaches and collaborate about local CMO interest.

User Interviews

This interview guide can be used to collect data from planning associates and their managers. The UX group has defined objectives and scenarios to guide instruction. The goal of this interview should encourage users to talk more about the depth of learning they have, their concerns about speaking with clients on complex topics, and identify when users will consume the learning.

Since, this will be a quick development time, spend no more than half a day gathering and organizing info (~10 Minutes per interview with exceptions as needed). To develop a well-rounded understanding the planning associates issues, I would interview two planning associates and a manager from four locations: an urban coastal area, rural coastal area, an urban Midwest area, and a rural Midwest area. Data from these areas should provide a range of opinions encompassing diverse client backgrounds in education, media access, and market participation.

Proposed Design

Below is an HTML solution, it would lend itself easily reformatted to an Adobe Articulate environment or card/slides format. Within this design, I envision the client will yield to the Planning Associate over the media influence, if they understand the exceptional nature of CMOs. The Associate does not need to transfer a vast knowledge of CMOs to the client; although, they have opportunities to do more extensive research if they prefer. I envision this resource can be used by the associate to understand CMOs AND as a resource to share with the client. I am using HTML to discuss technical skills. I also think a podcast is worth researching if Fidelity uses podcasts and they are a routine source for learning.

Based on learner and user considerations, this learning module will be a single page HTML 5 divided into 5 vertical full screen sections (1080 each) (The image at the right is basic visual representation of the elements created in Adobe XD):

1. Header screen with a full background image. This page would feature an introduction and explanation of the purpose. It is not necessary to explain objectives, but it is important to establish that this is a review of assumed prior knowledge. The learners/associates immediately will begin connecting prior knowledge for cognition. From an instructional procedural standpoint, we will also contextualize why we created the learning: the media scenario. This is the “Problem” in Problem Based Learning. —> Learners scroll to section 2.

2. Section 2 is reviewing prior knowledge. Depending on user reviews, we can set up specific instructions to review resources. If during user interviews, we find associates have preferred sources, we can send them to their own sources on CMOs. If we find that users need more directed review, we will connect them to those sites. —> With review complete, learners scroll to section 3.

3. Section 3 will clearly list the risks that they should focus on from their research with scenarios that mortgage customers could initiate to impact the CMO. —> Learners scroll to section 4.

4. Section 4 is the image above responsive CSS. We can add a floating div in front of the image using CSS or ReactJS to contextualize that this image is how we think they should council clients on CMOs - adding that they are free to describe the image using appropriate terminology or anecdotes for their clients. —> Learners scroll to section 4.

5. Section 5 is the connectivism component for learners to collaborate with local colleagues to situate the learning to their local client-base. Depending on user feedback, we can suggest: casual conversation with colleagues, inform of an upcoming formal meeting, or provide a link to slack channel (or similar) for discussion as needed. We can even propose a client dialog for discussion.

   • Client: “I am interested in CMOs, they were discussing them on CNBC.”

   • Associate: “CMOs have some unique risks that can be masked in technical discussions. You are not investing in a more predictable government bond … with professional obligations and standards…with mutual success. [Show image resource] You are ultimately investing in mortgage customers who may find it is against their personal interest to continue paying the mortgage as agreed. They may payoff their loans early or default both effect you. It does not need to happen on the scale of the 2008 collapse to negatively impact you.”

   • Client: “But CNBC said that interest rates were going to drop another quarter point…”

   • Associate: “The media can quantify and predict market forces reliably. But mortgage customers are less predictable because they make decisions for their own benefit and maybe with poor judgement…and you are tied directly to that judgement. So even if the media identifies the best case scenario for CMOs, we do not think they are worth the risk.”