5 Mistakes Financial Advisory Teams Make – And How to Avoid Making ThemPosted by 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
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
Written by Lisa Swan