You can support your advisers’ performance simply by changing some of your actions and behaviours.
The very best execution of effective adviser capability requires support, observation, feedback, coaching and consistent role modelling by highly capable and engaged leaders.
Effective leaders in financial advice, and business in general, are consistent in these actions.
Think about it this way:
BUSINESS SUCCESS = Right Actions X Right Quality X Right Frequency
For advisers to achieve their best they must apply this formula, that is:
Know what the “right” actions are
Ensure the quality of these actions is consistently the highest it can be
Apply the actions to the right frequency – remember, more doesn’t always mean better
If you are leading or managing advisers, you must also apply this formula to your actions and behaviours to ensure your support is the “right” support delivered at the highest level to the appropriate frequency.
Effective leaders identify the (developmental) needs of the people they lead and plan and take action to address these specific needs – for each, individually, and the team as a whole.
Too often leaders and practice managers overestimate their advisers’ capability.
These beliefs are typically driven by leaders assuming that because advisers may be experienced, or generally successful in practice, they therefore don’t need any significant support.
This is a trap for many leaders.
Apart from the fact that everyone needs some level of support, in business, it is essential that specific individual’s needs are identified and addressed.
Attentive leaders develop skills that enable them to properly understand their team members’ capabilities, strengths, performance gaps and developmental needs, amongst other things.
When was the last time you took the time to consider what you are doing, and how effectively and how often?
Take a few minutes now and write down the key actions you think you should be taking as a leader, and for each action make a note of how effectively you do it (rate yourself on an effectiveness scale of 1 to 10 for each action) and also note what you think is the optimum frequency for each. You might be surprised at how difficult this seemingly simple task can be.
The GROW Adviser and Leadership Capability programs cover this topic in more detail and help build a robust understanding and exceptional leadership and engagement skills.
Comments