5 Mistakes Financial Advisory Teams Make – And How to Avoid Making Them

Posted by adaniels in Blog on November 22, 2012

As a financial advisor’s team grows, he or she may make mistakes that

could impede that growth. Financial Planning has some tips to avoid

these mistakes:

1.      Putting individual people ahead of the process: It is important to

have a process in place where the team can thrive, not just one or two

people. And the best leaders make managing people and planning for the

system a priority.

2.      Putting getting along over getting things done:  The article says

that “effective leaders understand that harmony doesn’t create

success, success creates harmony.” Focus on good methods to grow the

business, and the rest will take care of itself.

3.      Not enough time focused on working on your business:  It also isn’t

enough to simply get things done. You should focus on building the

business, which means time spent on managing people.

4.      Failure to not clearly explain people’s roles: Your staff should

know what they are responsible for, and what other people should


5.      No metrics to track performance: How can you know how your staff is doing if you do not track their numbers, or give them goals to  achieve?


By following these standards, financial advisory teams could achieve

greater success.

Written by Lisa Swan


You can follow any responses to this entry through the RSS 2.0 You can leave a response, or trackback.

Leave a Reply

Your email address will not be published. Required fields are marked *