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So, You Think Flying Solo Will Rocket You to Success?


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This past fall my daughter professed her desire to be a cheerleader for the 8th grade boy’s basketball team.

I was excited but at the same time had a sense of dread…

The excitement: I was a cheerleader and loved it. Now I was getting to see my own daughter do something I once enjoyed so much. The dread: having to pick her up from school after practice and games.

The dread shortly lifted and the excitement was more than I could have ever anticipated.

Her first game was filled with great excitement and I was immediately taken, hooked and obsessed. The cheerleaders didn’t’t stop for a second, cheering from the bench, the court… you name it. And the boys, well, they were amazing. As I took a better look at each player I realized that these boys were the same ones that have been playing together since elementary school and man, were they great! You could tell these boys PRACTICED, COMMUNICATED, knew their roles and position on the team. As a result they were near undefeated the entire season.

Watching the boys’ basketball team throughout the season made me realize the power of financial advisory teams and why they do better business.  It’s because teams hold each other accountable and operate with more discipline, similar to having an exercise partner.

When you form the ideal advisory team you are each capitalizing on your strengths, just like Ricky was point on the basketball team and Joseph was the rebounder, the same thing holds true for an advisory practice. You need to ensure the following roles are led by best and brightest on your team with clearly defined roles and responsibilities, whether in the office or on the playing field it’s a must and you can’t wing it:

  • Business Development
  • Business Management
  • Financial Planning
  • Client Service
  • Investments
  • Relationship Management

A team approach helps advisors better position themselves for the changing demographics, bridging the gap to the next gen of advisors and clients, as well as succession planning. It simply makes sense. Need help in the team formation process? Contact Kim Albano of Business Wise Boutique. She will guide you and your team through the role definition process to create an efficient and successful practice, as well as help you identify impactful business development and client experience practices.

You can contact Kim through LinkedIn or by visiting her website here.

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