Supernova Advisor Teams

Supernova Advisor Teams

by Curtis C. Brown Jr., Robert D. Knapp
Released April 2018
Publisher(s): Wiley
ISBN: 9781119477457

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Book description

Strengthen and unify your Financial Advisor Team

Teams are the principle building blocks of the strategy of successful organizations. The focus of your organization may be on service, quality, cost, value, speed, efficiency, performance, or any other similar goals, but teams remain the central methodology of most organizations across sectors.

Vertical teams and horizontal teams can transcend organizational silos and boundaries if properly focused and supported. Building collaborative teams can improve the client experience. In Supernova Teams: Effective Team Strategies for Financial Advisors, you’ll discover the macro rationale and justification for teams, as well as the micro benefits of team formation.

•    Boost your team’s effectiveness

•    Discover different leadership styles

•    Write winning team vision statements

•    Get familiar with communication strategies

From on-boarding a new team member to finding effective ways to bolster the ones you already have, this book shows you how to turn any team into a cohesive, productive unit with like-minded goals.

Table of contents

  1. Cover
  2. Title Page
  3. Foreword
  4. Preface
  5. Acknowledgments
  6. INTRODUCTION: Why Form a Team?
    1. Price Compression
    2. The Dilemma I Faced
    3. Lessons Learned
  7. CHAPTER 1: Stepping Outside of Your Comfort Zone
    1. Stretching Beyond Your Comfort Zone
    2. Characteristics of Successful Teams
  8. CHAPTER 2: Distinct Types of Teams
    1. The Client Experience: More About Your Team Differentiation
    2. Who Does What?
    3. Other Types of Teams
    4. Which Team Structure Do You Need? A, B, C, D, or E?
    5. The Evolution of Team Business Models
  9. CHAPTER 3: Team Effectiveness
    1. Bringing Your Team Closer Together
    2. SWOT Analysis
  10. CHAPTER 4: Leadership Styles/Leading the Team
    1. The Leaderless Team
    2. Leadership Profile
  11. CHAPTER 5: Establishing a Vision, Mission Statement, Value Proposition, and Elevator Pitch
    1. Mission Statement
    2. The 30‐Second Elevator Pitch: A Supplement to Your Value Proposition
    3. Communication
    4. The Short Team Huddle – 10 Minutes in Length
    5. Team Performance Review (30 Minutes)
    6. Team Strategy Retreat (One Half‐day Away from the Office)
    7. Team Training Meetings
    8. Practice, Drill, and Rehearse
    9. After the Client/Prospect Meeting Is Over
  12. CHAPTER 6: Operationalizing the Five Star Model
    1. Avoid the Leaderless Team
    2. Tools to Help Operationalize: Technology, Training, and the Human Touch
  13. CHAPTER 7: Team Collaboration
    1. Collaboration and Team Growth
    2. Collaboration with Clients' Other Advisors
    3. The Force Multiplier Effect
    4. Other Elements of a Team Force Multiplier
  14. CHAPTER 8: Shock Trauma Surgery Teams: A Compare and Contrast View
    1. Evolution of the Contemporary Workplace
    2. Activities of Effective Team Leaders
    3. Delegation of Duties and Responsibilities
    4. Summary
  15. CHAPTER 9: Team Contract and Agreement
    1. Compensation and Team Splits
    2. Delegation of Duties and Responsibilities and the Decision‐making Process
    3. Provisions in the Event of a Team Breakup
    4. Provisions for Onboarding a Family Member
    5. Provisions for the Retirement of a Team Member
    6. Provision for the Sharing of Team Expenses and Budget Overruns
    7. Provision for the Resolution of Conflicts: Who's the Final Arbitrator?
    8. How Will Team Decisions Be Made?
    9. What Does It Take for a Team Member to Reach Parity in Managing Uneven Revenue Splits
  16. Chapter 10: The Key Drivers of Your Business, Forecasting Growth, and Building Your Business Plan
    1. Stair Steps to the Stars
    2. What Is Your Time and Billable Hours?
    3. Outline for a Team Business Plan and Strategy Meeting
  17. CHAPTER 11: Recruiting, Hiring, and Retaining Good People
    1. A Commitment to Excellence Versus Accepting Mediocrity
    2. Sourcing the Candidate
    3. Identify Your Best Candidates
    4. Take Time to Really Interview
    5. Check References
    6. Time for Dinner
    7. Onboarding
    8. Begin Coaching Immediately
    9. Firing (Otherwise Counseling Out of the Role)
    10. Boston Massacre
    11. Is This an Irreconcilable Difference?
    12. The Difficult Decision
    13. Now That You're at the Point of Termination
  18. CHAPTER 12: Onboarding and Mentoring a New Team Member
    1. Communication Is Critical: Don't Rush the Process
    2. Let Your Candidate Ask Questions
    3. Checklist for Onboarding a New Team Member
  19. CHAPTER 13: Team Dysfunction: The Elephant in the Room
    1. Avoidance of Groupthink
    2. Frequency of Client Communication
  20. CHAPTER 14: The Leader/Manager Role in Building and Coaching Teams
    1. Outcomes
  21. CHAPTER 15: Wealth Management in the Digital Age
    1. Some History
    2. What About the Teams?
    3. Mass Commoditization of Products and Research
    4. Pursuit of Multiple Channels of Business Development
    5. Rising Customer Expectations Due to the Internet
    6. Data Mining
    7. An Expanding Wealth Management Market
    8. Artificial Intelligence
  22. CHAPTER 16: Diverse Teams and Niche Markets
    1. Insight from a Diversity Expert
    2. Women as a High‐growth Market
    3. The Wisdom Case
    4. Diversity Can Be a Competitive Differentiator
    5. A Collaborative Case
    6. People Development Is Key
    7. Narrow Your Focus: Become a Big Fish in a Small Pond
  23. CHAPTER 17: Team Summary
    1. Key Issues Impacting a Team's Success
    2. The Message
    3. Memorable Points
  24. Index
  25. End User License Agreement

Product information

  • Title: Supernova Advisor Teams
  • Author(s): Curtis C. Brown Jr., Robert D. Knapp
  • Release date: April 2018
  • Publisher(s): Wiley
  • ISBN: 9781119477457