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12 Ways to Build Strong Relationships With New Financial Advisors

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Congratulations on a great 2017!

To work affectively with new financial advisors and planners this year, it is beneficial to keep the following resolutions in mind. They should help you and your advisory group set the stage for another great year.

  1. I will inform my new advisors of business plans, as they might have some interesting input, and I realize they will have a larger degree of long term buy-in if they are a part of the conversation.
  2. I will ensure my new advisors have the best equipment and most up to date software/tools so efficiency doesn’t suffer.
  3. I will remember what I said and promised during the interview and hiring process regarding their roles/responsibilities and career path, and make sure I am holding up my end as long as they are delivering as expected.
  4. I will give my new advisors positive reinforcement in addition to constructive criticism.
  5. I will go to my new advisor and let them know whether they are meeting or exceeding expectations.
  6. I will spend time with my new advisors, show confidence in them, exhibit patience with them, and view them as the professionals they are.
  7. I will let my new advisor actually talk to my clients and even consider letting them practice honing their skills by presenting the analysis they performed.
  8. I will attempt to ask about my new advisor’s interests and family outside of work because I understand that the family always wins.  If things at home are out of sync, it will probably, at some point, affect his/her work. I understand that I might not be able to fix it, but do need to be aware nonetheless.
  9. I will consider adjusting the culture of the firm to attract younger workers and younger clients as I know the baby boomers can’t have the majority of the assets forever and the “experienced workers” will retire not too long from now.
  10. I will not involve my younger advisor in disputes with my partners (where ownership is shared among multiple principals), and/or force them to choose between us.
  11. I will not take out any feelings of frustration and anger from what happens to be going on in my personal life at that time on my new advisor.
  12. I will realize that there are no perfect fits out there, and if I have solid team members I should do everything possible to ensure they are satisfied, or another firm surely will.