Most of the successful firms I have worked with over the years have a disciplined process in place to manage employees. This can range from setting initial job expectations to developing compensation plans and guiding overall career progression. During volatile market conditions, these processes are especially important because they help reinforce that employees can trust… Read more
Leadership & Management
Have you ever calculated the cost of hiring a new employee? It’s not cheap. In fact, research from Center for American Progress, citing 11 research papers published over a 15-year period, determined that the average cost to a company of turning over a highly skilled job can be more than 200% of the annual compensation… Read more
Most financial advisory firms believe technology is critical to the success of their firm. After all, the right software and digital tools can streamline many mundane but necessary administrative tasks, thereby enabling advisors to spend more time with their current and prospective clients. That said, technology is not without its downfalls. I’ve seen many firms… Read more
Being a big professional sports fan, the springtime tends to be one of my favorite times of the year. Major League Baseball is just getting underway and all thirty teams seem to have a real shot at the postseason. After endless months of games in the National Basketball Association and National Hockey League the playoff… Read more
Money Talks
Talking Points to Ease End-of-Year Compensation Discussions That time of year is almost here – performance reviews and compensation discussions. I know that most managers (and employees) dread these hour long rites of passage. You may be asking; do I have up-to-date data to benchmark my compensation levels? Does my budget accommodate increased salary ranges… Read more
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
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
How can you create a winning team? Implement these key strategies for successful team building: Strategy #1 – Hire Highly Effective Team Members 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… Read more
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
by Jennifer Goldman, CFP ® and Kelli Cruz Your strategic plan, your organizational structure and systems, and your people practices are the necessary elements that drive the growth of your firm. The key foundation to building any business is to ensure you have the right people doing the right things. Building a business strategy that… Read more
