Goals, Building, Growing, and Achieving
Philip Waxelbaum
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Philip Waxelbaum
Masada Consulting | Recruiting with High Performance Counseling & Practice Coaching. FINRA and trial Expert Witness Representation
I am a collector of brilliant quotes and behaviors they inspire. In one of my responsibilities I had a large number of field leaders reporting to me. As is my process always, I sought out mentor advice. My choice was someone who was unrivaled as a leader of leaders. I asked what should I look for when I visit the field managers. he had lots to share but one jewel has remained with me forever "Ask advisors how they appreciate their manager." "If they tell you they love the manager because he or she leaves them alone you have a big problem!" Wow, what a revelation and what a starting point to question what a firm provides to its advisors.
He went on to explain "Advisors think that if the manager only shows up for problems they can live their goals uninterrupted. What the manager thinks is that if I leave people alone they will like me. They are both wrong. The managers are THE FIRM. If they fail to engage, THE FIRM is nothing more than pleasant office space."
Firm management, field and senior, have an obligation to build and maintain strong and thoughtful scaffolding. It is needed to ease the climb and to protect from falls. "Call me when you need me" leadership does neither. It is an art being a scaffold builder. You need to be a master of knowing what the job is and best practice in getting it done. You need to know how to adapt the structure to suit the weather and the goals. It cannot be limited by hight or width. If it is you slow or stop your most talented advisors from their goals.
Unfortunately, many if not most firms don't appreciate the responsibility. They back up the truck with building materials. They provide limitless 2x4s, pails of nails and all the hammers you could ever imagine. Where is the scaffolding?! The right scaffolding?
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During these closing months of the 2024 we are going to chat regularly on how to judge the scaffolding at your firm and competitor firms. Wirehouse, Regional, IBD and Supported RIA will all be explored. From the Pyramids to suburban condos you can't build anything great without the right support, the right scaffolding...
We would be excited if you were to be so generous to suggest questions, processes or best practices we can address in future posts. DM me on LinkedIn or email me at [email protected] or call me at 424-363-7200
Managing Partner at CARE Private Wealth
4 个月Well said Phil!
Managing Partner at M&K BIZ Consulting, LLC
4 个月Excellent post Phil. Have a great year end.
Flourishing Longevity Consultant & Coaching - Inspirational Professional Speaker / Thought Leader / Growth Coach
4 个月Terrific piece Philip Waxelbaum, I look forward to the coming discussions. I'd also pitch in that senior leadership and field leadership need to be operating from the same blueprint (and have their comp adjusted accordingly). Asking Advisors to change their behavior (climb the scaffolding) only works if field leaders are measured similarly to support the change and do not deviate from senior leadership's blueprint. As one Advisor returning from an Advisory Council meeting with leadership commented, "I don't get it, the way they talk at Head Office versus what we get in the field."
Division Director- Independent Contractor Division
4 个月Nailed it Phil…insightful perspective…love the scaffolding example. Well done, my friend!
Founder, Consultant, Recruiter & Chief Transition Strategist for Financial Advisors, RIAs & Broker Dealers | Successions | Practice Acquisitions | Expert Witness | President & CEO TERRANA GROUP
4 个月Nice piece Phil!