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Human Capital Is Key

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The best leaders in this business deploy several key people development strategies by:

o Providing work that matters

o Systematically increasing responsibility

o Engaging in discussions on aspirations and opportunities

o Actively mentoring their associates

o Measuring progress

The worst leaders use money as a substitute for active management, as a way to send signals, or as a way to avoid difficult discussions with staff. When one considers the acute talent shortage confronting the advisory profession, those leaders who make human capital a key part of their strategic initiative, will be the real winners when the market eventually returns to normal.