As a financial professional you have received a lot of training. First you needed to become licensed, and then you needed to learn your firms systems and products. Next you were trained on how to attract and retain high values clients. You have been trained on portfolio management, insurance, equity and bond research, cash management, and every year need to complete compulsory continuing education to maintain your licenses PLUS any additional certifications you may have earned (CIMA, CFP,CFA, CLU, ChFC, etc). I’ll bet the amount of training an advisor receives on portfolio and client management over ten years could fill an ocean. I’ll also wager the amount of training an advisor receives on managing staff couldn’t even fill a thimble.
Let’s face it; you need a team to reach the heights of this business. This article will discuss how to manage and compensate your sales assistant to get his or her best efforts every day. You will learn how to do a strengths assessment, how to determine what your assistants top tasks are and how to delegate, and how to structure a bonus system. Let’s talk about the benefits of managing your staff based on their strengths first.
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