Wealth management firms, like auto racing teams rely on high-performing individuals to achieve success. For broker-dealers and RIAs, top producing advisors are celebrated and rewarded for their ability to build and maintain large books of business. Similarly, race car drivers are treated like rock stars because of their elite ability to push a car to its limits.
In this episode of the Modern Financial Advisor Podcast we'll dig a little deeper on the parallels between financial advisors and race car drivers to explore how their teams contribute to winning.
The biggest difference between a racing team and broker-dealers or RIAs of course is the number of drivers compared to advisors. Your firm may have dozens, hundreds, or even thousands of advisors whereas a racing team usually only has a few drivers. But the concepts of active team support covered in this episode are still relevant. Your advisors can achieve much more if they are allowed to focus on advising their clients and your team does everything it can to help them perform at the highest level possible.
TrueContinuity - Keeping advisors' businesses safe in the event of an emergency is good business for broker-dealers and RIAs. This is especially true during times like these.
TruePerformance - Do your advisors really know how well (or not well) their business is performing? Do they know how they are performing compared to other advisors at your firm? Your team can help them improve their business performance by giving them new visibility into over 50 key performance indicators.
TrueRecruit - Attracting high-performing advisors is the lifeblood of every firm that is hoping for fast growth.
If you have any questions, comments, or even ideas for new episodes, feel free to reach out. If you like what you hear, make sure to subscribe to one of our channels listed above.