Annual Performance Review

The traditional annual performance review is losing favor with some advisory firms, but without a systematic approach to reviewing advisers, operational and support staff performances how can you objectively determine pay raises, bonuses and promotions?  Therein lies the dilemma many advisory firms face as they head into the employee annual review process.  I hear from… Read More

The Young & Talented: Steps to Attract Gen Y Advisors thumbnail

Some call them millennials, others call them Gen Y. Some even call them echo boomers, because their parents are part of the baby boom generation. Whatever you choose to call them, this group, made up of people born roughly between 1977 and 1992, makes up the largest proportion of the U.S. labor force. This means… Read More

Advisory Team

What if running an advisory firm felt more like managing a strong college squad, known for its teamwork, rather than a team that merely celebrated its all-stars? What if your entire crew took joy in rallying together, applauded each member’s successes and celebrated winning new clients? Strong teams, not stars, deliver the best service, and… Read More

Why Use Compensation Benchmarking Data thumbnail

How do you know if you are currently paying your employees at competitive levels? And what merit increases are warranted for each position? Are you utilizing the appropriate mix of base and variable compensation based on the type of position? These are common questions we are asked when clients engage us on a compensation project… Read More

Why Hiring an Intern Should Be Part of Your Recruiting Strategy thumbnail

In an increasingly competitive job market, firms that link internship programs into their recruitment strategy are well-positioned to compete for the best talent graduating from universities and colleges. The main barrier or excuse I hear from advisors on hiring an intern is, “I don’t have time to train an inexperienced person.” I encourage advisors to… Read More

Succession Planning Isn’t an Economical Issue – It’s an Emotional Issue thumbnail

Succession planning is still a vexing issue in the industry. Kelli Cruz discusses the challenges faced by advisors when trying to move ahead with a plan. … Read More

Creating a Winning Team thumbnail

How can you create a winning team? Implement these key strategies for successful team building: Nothing is more important than hiring the right people.  This necessitates having a disciplined approach to the hiring process.  I recommend these 5 steps to the process: 1) Create job descriptions that can be used as your job posting or… Read More

Top 10 Employee Handbook Updates thumbnail

Don't underestimate the importance of regularly updating your employee handbook, as well as your firm’s underlying policies and procedures. Not only are state, federal and local laws changing rapidly, so too is the technology shaping how people work today. Click here to read this important article that outlines the top 10 employee handbook updates for 2016. Contact… Read More

The Client’s Journey with your Firm – How to Make it Memorable thumbnail

From the desk of Jennifer Goldman. The client is always right. The client is king. The client comes first. There are probably a thousand other sayings tied to client service that we use every day. However, as the saying goes, talk is cheap – and losing clients is an expensive proposition. So how can you… Read More

6 Compensation Myths thumbnail

Advisory firms spend more money on compensation than on any other expense, so getting it right just makes good business sense. Your compensation plan should define the behaviors you value the most and reflect what you are willing to pay to attract and retain key talent. I have found some consistent compensation misconceptions across advisory… Read More