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okay caffeine Glen thank you very much for that and again very actionable there are some great tips on the lavish cards website so lavish cards calm the wall decor to symbolize your value whether it's a bridge right you're the bridge to your clients goals the navigational themes that again can just create some energy around your value are exceptional the ability to create a calendar of how you can get out in front of holidays client milestones and achievements and of course critical life events as they occur and you might have heard me say in the past I mean the beauty of these cards is the impact they have right people sort their mail over a garbage can I mean make sure that your cards stand out and of course lavish will do that but not just the impact the shelf life people can't bear the thought of discarding these down the road I mean I've heard stories of clients who were received the cards and framed them and I love the stories that Glen has in terms of when he was in a situation where he captured an image it's terrific I encourage you to take them up on their offer to get a sample for yourself and take a tour of the lavage cards a website and consider the concept of adding and sending your clients a physical calendar remember vapor to paper so much of your client experience is digital it's nice to make things tangible that they can hold in their hands so really great ideas there and don't be misled by the simplicity of a card you know even in the last 90 days slowing life down and paying tribute to what's going on in a client's life or within their family with a gray card that can etch into someone's mind and heart in terms of a really good memory okay so moving along well you talk about talent and you talk about credibility teri and sherry are going to walk you through and it'll be rapid-fire on insights on the highly functional team whether it means refining your existing team creating a team with predictable outcomes or growing your team in the direction of franchise readiness I can safely say there's nobody anywhere in the industry that has a better command mastery for what that all looks like teri grande Baek Jones and Cheri Palais have been with me for a long time and I respect their skills and how seriously they take this and the feedback I get from teams is never short of amazing they've been working with our elite advisory teams going back many many years as you're gonna learn exceptional teams accomplish great things and in this presentation teri and sherry will review our four-step framework for developing and sustaining an exceptional team and the there is a deep dive behind this in terms of bringing it all to life but if you're self-motivated and you have a concept for where some of the adjustments are this framework will will launch you forward so we're really looking forward to this presentation I know the content and of course the presenters very well but never get tired of hearing them represented because they do such a great job so sherry and Terry off you go thanks for that amazing introduction Duncan Terry and I are delighted to be here as part of the coiled spring virtual summit today we want to get right into the topic around exceptional teaming we're gonna walk through the big reasons why this is so important and also a four-step framework to really help all of the advisory teams out there really systematized and organized all aspects of their HR and I have to be honest with you many of the teams that I work with unfortunately managing the people on the HR is their least favorite component because people are a hard variable to manage so my hope and desire is that you come away with some really great ideas that will help you get your team to the next level in terms of communication vision achieving goals and results but also feel as a leader you've got a proactive approach to keeping everything on track so without further ado let's hear from Terry thank you so much Gerry indeed people are your greatest assets and it's funny you know over the years I've seen some really amazing teams I've seen a lot of dysfunctional teams that even had teams break up in the middle of coaching them so it's been a real mixed bag I remember going to my granny's to go to my grandmas I was for lunch every Friday and she used to be a business woman in her own right back in the day back mid forties she ran a floor at a major supermarket the ladies were and she was a real player in the 40s and I was talking about the dysfunctional team that day with her as we were eating lunch and not bad it was and she got a knowing look on her face sherry and she said you know she said oh partnerships a poor ship to sail and nice time there I made a mental note of that I thought that was pretty clever and and these that has been the case a lot of the partnerships I've seen but on the other hand I've seen a lot of absolutely stellar partnerships and you know what people just don't stumble into these great partnerships they just don't have it well designed and typically when I see the dysfunctional team use it just as they flung themselves together with this notion that we're gonna have great synergy whatever buzz word that they wanted to use and it has to be a lot more meticulously planned than that you don't want two different advisors finally starting to work to each other and one says you know oh oh you don't want to do seminar workshops that's what I like to do and the other one goes no I bet that put that behind me years ago I don't want to do that and yet I've run into that very same example so the point of this story is scheria never really exceptional and Pareto course have an exceptional step-by-step program and we're going to share a lot of those things with you today in order to put together the best team possible this also segues into how to onboard an advisor to an existing team as well - and we do that an awful lot there seems of being franchised ready and duplicating what you do over and over and over it goes on so without further ado let's get into it so here are some of the obvious things that great teams can accomplish in - Terry's point it generally doesn't fall in place by accident follow grandma's rules and regulations there it's success by design and so what we're gonna walk you through today is gonna help you increase growth in your revenue your assets under management your number of referrals it's absolutely going to increase the value of your business you're not just selling a book of clients you're selling an entire system of how you run your business and service your clients the other thing is it's gonna create a legacy and a brand for yourself for your business your clients and your partners and it's also going to ensure that if you are in that franchise readystate and you are acquiring advisors and that is another form of growth that you have hi-hi not only retention rates but success rates within those teams so one of the teams I'm working with right now has around 30 different advisors Terry that they've added over time and you know we're just going through that concept of understanding who is their ideal advisor and who do they want to actually add to their practice vert versus taking on sort of anyone and everyone but regardless whether you're the the two person team the five person team the 10-person team or the one that wants to be franchised ready we assure you there's going to be stuff that you can take out of this and implement in your practice starting tomorrow maybe even this afternoon that you that will make things improve and enhance as it relates to managing your team did I hear you right say thirty three zero advisors yes employed 30 and you know the one thing that isn't on that slide and I'll just adlib is you know when you put some structure and order around how you manage and organize your team and and really service and and help them promote their own growth is quality of work life as you heard me say a lot of advisors you know it is their least favorite it's the hardest to control it is a tricky place to navigate ironically it's one of my favorite spaces to be in so I love working with them in this area but it does bring a level of calmness and peace to this area which can be somewhat chaotic and stressful for them you know it's it's interesting there's a lot of different teams out there obviously and some of the most successful ones are oil eyes earlier on with Michael Gerber and the e-myth that you know you're only successful once you've made yourself obsolete and and certainly that appeals to the franchise ready in business as well - certainly a book of business has some value for the clients and the assets and the recurring revenue they hold what what about the business that has all that anyway of course they all have that for the most part the ones that are decent businesses you want to buy but what about the ones that you could pick up and take across the country and have it set up and follow your procedures and your client onboarding and your clients in it and have it virtually operate in exact same way what kind of value design has and there's a lot of value its triple the business of the ubiquitous sort of book of business you know and and it has far-reaching other implications as well - as we speak right now I have a team of really successful advisors that are on the hunt for the right business or being incredibly selective and they've gone through the whole Pareto approach and they are franchise ready to to the tee to a tee and interestingly enough they finally found a guy with a terrific business that checks all the boxes but this guy is being so particular about who he sells is baby - it's actually benefit I just a fascinating journey we're up to three months into it now and they're golfing they've had about you know I don't know how many meetings now they just get deeper and deeper and deeper the gentleman and team have already cast aside numerous suitors that are interested in buying his business and now he's got it down to I think two choices the team I'm working with the other team guess what he likes Shari about the team might work with their franchise ready they have all their systems in place and there's just no way in a million years this guy is going to give up this um in a are inarticulate strange or that just flying by the seat of his or her pants it's just not going to happen so it never did my clients think in a million years going through a prego system like whatever was seven years ago yes I'm still working with that what their what they were dealing with me was not only going to be successful in terms of their client acquisition and building the triple quadruple their business at this point but would it have implications when they went to buy and other business but it's paying off in spades right now for them and it's probably going to be one of the deciding factors that they win this particular business and I'm fairly confident that they will there's all kinds of different that there's myriad of different benefits to getting serious about this stuff and it's interesting when it comes to sort of the concept of the the franchise writing model I know initially some advisory teams that I work with they're like oh you know you know we don't want to add any other advisors you know we just want to keep our team the way it is and the reality is I told them I want you to get your practice system ties to the point then if you were gonna open up an office where I'm at on Vancouver Island British Columbia you could send me that manual and I could replicate everything you do and it's interesting because then they sort of see it in a different light and and again about around franchise ready isn't just about adding ten twenty thirty advisors is about maximizing the value of when you sell your business one of the teams that I've been working with since 2012 so much like you've heard for many many years Terry they do this so well that they were not pursuing other advisors to Joe to join them as a growth model but they are having advisors knock on their door saying how can we be a part of this how can we join the plug-and-play atmosphere you created the branding the classifying the servicing the onboard I mean they have checked every single box and even though their mindset wasn't we want to actively add advisors they've got people knocking on their doors saying we want to be a part of this and we're willing to bake pay to be a part of this so sometimes it happens and it's not really part of your your your mindset or your original goals but the reality is every team that we work with is going to be franchise ready in some respect and most of the advisors that I talk to especially as it relates to documenting processes and procedures it's almost like that's something they dreamed of their entire career and the neat thing about the Pareto process is that can that can actually happen like we can make your dreams come true it's not just something that year after year you say to yourself I really should document my processes I want to get everything systematized so the franchise ready model initially you might be saying well that's not me but I think it's really everybody out there to varying degrees oh sure I'm never going to retire that kind of thing really ever all wrong headed towards the you know the sunset and and how do you wanna how do you want to deal with that sunset and what do you want to earn and be as you live through that sunset and it's good to start thinking about this stuff now for sure exceptional team is approach well we look at it in four main areas number one being of course the team integration itself this is largely the kind of things we do in the Pareto system total client engagement core program of course the success that comes out of that you have to have to start with those two you've got to become that franchise ready in the first couple of stages in order to walk the walk as they say from there you can't just start adding advisors willy-nilly into this beautiful thing you've created as well - they have to be a good fit for all the hard work that you've done and that's what the advisor fit processes and ran we're going to walk through these things in a little bit more detail and of course the onboarding process once you have an advisor there's a mutually good fit for the franchise ready building that you've made how do we integrate that person seamlessly in a way that delights not only them but your team as well to see the four main areas we look with and they have to go and sort of that order as well - I mean you could do sort of a ramshackle approach at them all I suppose but what we found the teams of the big success you're Jerry talking about 30 person Dee Sherri's worked with a billion-dollar team I worked at teams that are close to that as well to these things typically are not just throwing together there's a lot of methodical legwork into building these foundations so let's start talking about you know building this operational blueprint for your advisory practice and really maximizing your team we're gonna walk you through sort of you know some key key things around you know why is this important and again we're going to speak to leading with purpose and again this is an area because a lot of people don't really like it they tend to kind of do it on the corner of their desk it's minimal it's not proactive it's not organized and I will say that when you don't organize and structure how you manage your HR it really does negatively impact your leadership style so you know everybody on your team is looking to you to guide them as it relates to the vision and they have the power to make or break that for you and so you know we want to make sure that woven throughout this is really solid leadership practices and there's no question in their mind by the way that you devote your attitude and energy to this piece of running the business that you really genuinely care about each of your people and how you collectively achieve the sort of the Advisory vision and goals we're gonna talk about a you know an exercise on who like really defining clearly I mean it's one of my favorite parts of the program I know Terry's gonna walk you through sort of the tool it's fantastic it's just really simple one-pagers I call it like the blueprint for what's going on in your business really defines everything and anything that's going on and then finally we're going to talk about the what so once we know who's doing it you know what are they doing and how are they doing it really accurately defining and documenting in great detail all of the different steps to get those things done not only so that they're done consistently from the clients perspective because I always on my client had on and I'm looking for that that common thread those dots to be connected it's why that franchise concept is so popular when we go to Starbucks or McDonald's whatever you prefer for your coffee we just know what that experience is going to be like it's the same every time there's no unpleasant surprises so that's the value of creating that playbook and documenting your processes and then the when articulating all the specific expectations when are we doing these things and now that we know the who and the what and how completely organizing and systematizing so once you've documented how you're going to do different things within your practice you know we're huge advocates of using a CRM to set it and forget it workflow the heck out of your business systematized set action plans make sure all of this is just ticking along in the background all the triggers are coming up and telling you what you need to be doing and when you need to be doing it you should copyright that carry workflow the heck out of your business and so Terry outlined that for stage framework that we're gonna walk you through and the first section is team integration and literally every team we work with goes through this section and this is where it's about synthesizing and maximizing your team you know thoughtfully organizing everybody that's there just like a coach gets handed a set of players every season you have to assess their skill set their experience what they're really good about what their strengths what their passion is and put them in the proper positions if you're not thoughtfully organizing where everybody's going to be working and spending their energy you can have one plus one equals one and a half and usually the reason we add people is to get the one plus one equals three that synergy making it better we're also going to talk about building your playbook that's what I was referring to about you know having absolute consistency and efficiency and everything that you do from not only the operational perspective but also the client experience promoting ongoing professional development Terry I'm going to spend a second talking here because this is really important a lot of times I work with teams who have had the fortune of having team members who have been with them for a very long time and what happens is that you know it's Duncan would say that law of familiarity kicks in and that's kind of the same way as it's another way of saying a kinder way of saying complacency sets in so I've worked with teens that have had operations according them for many many years there's been no professional development there's no expectations there's there's no celebration of achievements or acknowledgments no discussion of what do we want to do next year for your perspective as a role so this is a really really key component one of the teams I'm working with right now we're really zeroing in on a process to promote that ongoing professional development and assessment of each of their team members because there is family members on the team so this is another reason when it's even more important because that family dynamic although it's fantastically from a legacy standpoint and you have someone to leave your business to can be very very tricky to navigate so putting some structure in place to help manage everybody on your team in the same fashion so that we're all moving forward we're all progressing and all working towards the the same goal so that's that's a place where there's a lot of value achieving individual and team progress again making sure that we all have our individual you know things that we want to achieve but making sure everything that we're doing is funneling up to the team goal so sometimes when teams are not good in this area what you have is people working in silos so they're very focused on what they're doing but they're not really connecting things to the bigger picture and how it relates to the client and the last kind of thing in terms of team integration is that whole concept of communicating and collaborating on a regular ongoing basis to make sure that the left is always in tune with the right this is where systems and CRM and rules of engagement in terms of team communication is really really important to the industry you mentioned that family dynamic and you know regrettably you only have a short time with you today I mean a lot of things we're talking about deserve like ours and so in some cases and this is no exception the roles and responsibilities Sharpe you're talking about the family scenario sherry and how easier it is when you have that playbook built out then it's like no no we all operate from this playbook on this day it's not like your dad telling you what to do your mom tell you wherever the lead advisor is it's like no we all follow the playbook you know dad does mom that's whatever it is right so I read that exact scenario well to into your point it's marvelously more effective than somebody that doesn't have it just trying to integrate their offspring or whoever happens to be into the business what we're looking at here is the roles and responsibilities chart and this is under the organizers routine it's an essential part a building a franchise ready team and quite simply a document who does what on the team if you've ever had an assistant of long standing get up and and leave suddenly and go to Vegas and start dealing jack blackjack or something crazy like that you had no idea it was coming you know how devastating that is you never want that to happen to you and not have that person's key pass documented so that the next person moving in could just pick up the slack with little little time loss and that's one of the things this affords we get teams using this roles and responsibilities chart this is going to be one of the handouts for you today by the way we're going to send you your own roles and responsibilities chart so you can get started on that if you don't have one it's a matter of documenting on the team who does what now interesting Lee enough I always tell advisors that you know really what you want to see here is your assistant all over the place I mean that's the way it should be and some advisors say I'm nervous that you know Sheryl is all over this thing and I'm hardly on that at all it's like well that's the way it's supposed to be because you're your role in this business is driving revenue you're in sales everybody else works for sales Sheryl works for sales wherever it happens to be so anything on this within reason that's not driving revenue as far as your concern needs to be farmed out to the next most appropriate person reduced in frequency if possible deleted completely from your life so those are the kind of things that we look to achieve here leaving the adviser to you know left to his druthers about driving revenue and and nothing else getting in the way of that from their job descriptions get aligned for it 14 members particular skill sets after a little while sometimes you have one team member at doing half the the things one skill set another team ever doing the other half and maybe it makes more sense to streamline them under the person that has superior skills not area sometimes there's a claw I had service champion on the team like clients can't wait to speak with them maybe we should steer the whole client experience under that person lead more administrative things to somebody that's more comfortable behind the books all the kind of things that come out of here and the course this drives would eventually becomes the procedures manual this is who does what the procedures manual documents how these things are done in this step-by-step fashion you heard sherry talk about McDonald's earlier I mean what did mcdonald's do but build basically a spiral coil winder that sort of look like back then and just they sold it like ten thousand times right but in it anybody could follow that spiral coil binder and run their own McDonald's franchise just like one across the country the same things can be done here with your business and although we don't want to be McDonald's we may want to enjoy the luxury of what this does for a business and of course we may want to become a franchisee ready down the road and roll this out bring new advisors on board whatever it happens to be super valuable tool and I've even had advisors do this chart scratching their head at first I'm only one-on-one man Joe Terry and it's like well what what a great what a great example and test to see all the things that you really shouldn't be doing and how much you really need an assistant in your life when you start documenting all these things that really don't look like driving revenue at all and from there you get a whole brand new job description and a clear idea that yes I need to hire somebody it's a logical investment for me getting to the next phase of my business instead of mentality no I'm gonna solve the lights out and wait till I have enough revenue to afford an assistant which is counterintuitive and not really rooted in reality for that matter so that's the roles and responsibilities chart and again we're going to make sure that anybody that wants one run from this call today will receive this so you can get started on your own as well Jerry I want to speak to just a couple things on this because this is such a that chart is so important to the teams that I work with and I don't know if you've ever had this but sometimes I get it back and they'll have all all all like they don't put a specific name it's like the whole team is doing this and this is what I say to them I go okay I recognize we make all the involves in certain aspects but who's the real coordinator and champion and really responsible for making sure this happens the analogy I use is what happens when you're you're standing on the street corner watching a building burn and everybody thinks somebody's called the fire department and instead we're just watching it burned to the ground and that's what happens when you put the word all-all-all or team team team you know try to really be specific around who is doing what like every other template at Pareto add columns change headings you know we won't really want you to make this yours I think of a specific advisor well I think a lot of advisors when I go through this but one in particular she had mapped this out she had a three-person team very successful and she had an assistant for I think it was close to 9 or 10 years and this assistant was quite a problem and you know I am on a number of occasions told this advisor she should probably fire that assistant and because she was tiptoeing around her and nobody likes to fire anyone it's not a fun experience you always have to check with your HR department and make sure you get it all document and done properly but I remember one of my happiest days it was Friday it was late in the afternoon I got an email from this advisor Terry and she's like oh my goodness my assistant so-and-so quit just quit and she was like in a panic it was like the weekend and my response to her was I emailed her back and I said this is going to be the best thing that ever happened to your business I can't wait to talk she would heart Mexico and so you know basically what we did was we looked at this sheet and we said well what was you know what was Annie doing and who's gonna pick up the slack until we find the replacement and so there's a lot of comfort I've had advisors that you know have had team members move and shift and transition sometimes they're moving across the country you know to be with their family or whatever there's lots of different reasons but they pull this out they go okay so who's gonna manage this until we find a replacement and then they're also really clear on the skill set of the person that they need to add to their team so I love this piece and I told teams you know add this to part of your annual business planning process pull it out give yourself a letter grade if you're not giving yourself an A ask yourself why is there's something that needs to be with the system with the process with the person maybe the person's overcapacity and someone else needs to take it on but this is a great assessment tool inside opinion yesterday a see this little just yesterday say Terry I we have an intern coming on for the summer for three months how should that person to time be best use I said well let's get the org chart out shall we and there's that's the way that goes up your chart so you've heard us talk about the playbook Terry's referenced that spiral coil binder that McDonald's got you know hugely famous and rich on you know in this program not only are you gonna see a sample table of contents for how to build your playbook but you're also going to have access to a sample procedures manual boy isn't that nice some teams I work with just download it with their logo and date on it and they sleep better that night knowing that they've got it and it's documenting it's already pre documented with everything that's covered in the freedom program but there's also lots of spaces for you to add things that would be unique to your practice so really great resource in terms of you just started methodically working through the process of documenting again like everything else there's a coordinator it was on that little chart that we were just looking at they're responsible for making sure everybody on the team is finishing one or two processes each and every week so that over the course of three four five six months the bulk of all your core business activities are found in this and you know again I'm always putting my client hat on Terry and you know the last thing I want to hear when I'm a client is I pick up the phone and I call you and I request something and I hear that they're on vacation can I call back in two weeks yeah that's not going to fly I don't care who's on holiday it doesn't matter who's sick this is what I want this is what I expect and so if that person is a way somebody else on the team needs to be able to execute it now it may take them five times as long and that's okay at the end of the day the client request will be fulfilled a quick look at maybe you seen this before that the Tuchman model Bruce Tuckman back in 65 sort of laid this out that every team will go through med then quite frankly be necessary and inevitable they will go through all these different stages forming storming norming and performing that the forming is when you know if the team initially comes together their goals are set in place there's a an excitement in the air like a lot of teams that people are getting to know each other feel each other out and challenges and then from there well you know I already have the best of optimism it sort of takes just a little bit most times anyway but this doesn't happen all the time and I'm not an expert but but half the time let's say the team goes through some adjustments as they get to know each other the personalities are fleshed out on the team and people begin to grate against one another and domineering people start to emerge and you know pseudo leaders and and all that kind of stuff starts to get sorted out but the team you know eventually works through those conflicts and learns from working through those conflicts and starts to gel and from there after that storming begins to take on sort of a new track which we call Norman which is really starting to get out things with a fluid sort of effectiveness really being excited about the goals that they're working on the pea and are used to working alongside one each other they know each other's strengths and and their weaknesses and and and again I know this isn't over simplification but from there you get to the Holy Grail obviously which is the performing aspect which is you know people are really looking towards the future with anticipation and leadership can sort of back up from that sort of micromanaging of the team and let them do what they do and so forth and so forth and then interesting when there is and I've seen this myself I know sherry as to when there's a new wrinkle in the team maybe a new leadership or a new partner or even a new advise or sometimes people can sometimes go back into the storming phase where the turbulence is as they re acclimatize and then sort of work their way out of that through the norming and performing again that's a tough line model - it's really interesting I saw was examined with my own eye is working with you or even heard about the talk and model but since I've learned about it it's interesting it's like one of those things that you hear about and all of a sudden you start seeing them everywhere right you see the forming and storming and the norming and performing and almost virtually every team so let's move on to the second part as a framework which is really team success and this you know he heard me say earlier providing strong leadership make no mistake everybody on your team is looking for leadership and when we're working with teams that are kind of struggling with achieving goals this is probably one of the key ingredients that that is missing so this is an area where you focus on what we call KPIs or key performance indicators making sure that you are having annual strategic planning sessions business planning sessions we don't care what you call them but once a year having a solid off-site brainstorming session around what just happened what do we need to happen in the next year how are we gonna do it who's gonna do it etc I work with a number of teams who do this it's probably the most productive time they spend they usually do it off-site because they don't want any of the interruptions and it's planned at the same time every single year and that is supported by those quarterly strategic meetings so if you think about the annual strategic Manning meeting is like plugging in the destination for the year that quarterly is like that GPS pinging along the way letting you know that you're on the right track or that you've taken a detour and you need to read a redress or redirect your trajectory and then finally weekly team meetings I mean I really honestly can't work with any teams and get any success out of them Terry I don't know about you unless they do the weekly team meetings and I know you're going to tell us all about that yeah after I talk about the kpi's okay so with respect to the KPIs there's two types so there are the quantitative I'm going to start with those are on the right-hand side those are the numbers those are the measurable things assets under management client retention number of referrals trailing 12 revenue all that kind of stuff we can actually get to the end of a 12 month period and say and measure did we achieve that and then there's the meaningful or what we call qualitative KPIs and those are the activities that we do to actually achieve those numbers so paying attention to the different types of client experience aspects and activities paying attention to what feeds into advisor efficiency life creating processes and it's interesting so I had a team the other day that you know I've been meaning to do some processes and finally did them Terry and when I talked to them they were like oh my goodness the efficiency we've created now that we've actually done what you told us to read no to process and systematize it on our crm is amazing so that's that activity feeds into them being able to deliver on all their client expectations you know earn the right to more referrals grow their business through new business with existing clients so two different types and again like most of what we're talking about there's there's tools and all that kind of stuff within the pareto program to help you teach and organize and manage all of that so the weekly team meeting absolutely is a must and we start working with teams what we find is yeah there's a lot of teams having weekly team meetings then you run into a batch of teams that aren't having them at all which is kind of shocking really it's like well how do you get things done as a team and typically it's you know people sticking their heads in somebody's office you know 100 times a day which is really not the most productive way to go about doing things you know can these little things wait till the end of the day and be put into an email kind of can be delayed to our weekly teaming and so forth I mean it just like a cascade of a trickle-down effect with all those things and then there's teams that say you know yeah well we used to do team meetings but don't be like doing them in there there were waste of time so there's not really it's member leety meetings are bad it's just like you know you're having bad team meetings and one of the ways that you change that is with an agenda you make this mandatory it's not an hour-long meeting it's about you know a 20 to a half an hour meeting once a week people people really like them on Mondays we don't recommend doing client meetings on Mondays or a whole lot of reason so it's a great day for the team meeting a regular day and time a regular agenda we have one in the Academy the Pareto academy by the way that's that's terrific it covers all the bases and you know what if in the meeting you whisk your way through the agenda and there's not a whole lot of wrinkles and and great everybody gets back to their day but at least you took the time the dot the i's and cross the t's and nothing slips through the cracks you can bring up new form information on your clients who's experienced an anniversary shall we do anything for them and and on and on on it's a great an important time for the team to click it's sort of a high level and set the stage for the rest of the week 20 to 30 minute minutes and and you know once you get into the quarterly strategy meetings then you can take those off-site or the annual meetings but the weekly in a regular place at a regular time with an agenda and and really look forward to people enjoying these and some productive things coming out of them you know as I mentioned the day-to-day communication protocol you really see a lot of sort of flaws and sometimes it's the one that always makes me laugh as this person was having a hard time getting people to stop interrupting her and in another time I remembered this lady at walk in traffic because who is this who's a small town and people just drop in because they wanted to shoot the breeze with her and here's the answer to both those things you have to shut your door it's really not that complicated and sometimes that's what it takes for you to focus on the necessary thing and the same thing of course can happen with teens right you're popping into your office all day long you've got to lay down some boundaries and identify which teams know some people say well you know I don't want to feel handcuffed like that with my team we're really we have a lot of camaraderie and stuff like that's like well fantastic let's get this stuff all sorted out in a very efficient way then you have lots of freed up time for camaraderie right and so the people that say like we don't wanna feel restricted that way are typically missing the point that they'll actually have more time to socialize in the proper context as we go about discussing all the things that needs to be done as we have our weekly team meetings and you know it's funny Terry because I always follow up with with teams on you know how is your weekly you know we talk about it and we follow up or using the agenda how's it going and I find there's certain times of the year where this is the answer all good well you know we were gonna have it but so-and-so was away and someone's always away and then last week so until was on vacation and my question of them is well did the business stop like are the clients gone because you know honestly there's it's hard to find a day when especially through the summer or over the month of December when everybody's in the office so just because one person is way doesn't mean the team doesn't need and the other thing I want to mention too is and sometimes I hear this from team members is one of their biggest challenges is access to the advisor and if they know that they have access to the advisor every Monday at 10:00 trust me you know they're writing down everything they need to know and they're getting it from that advisor Monday at 10:00 a.m. and when the advisor tends to and I've worked with teams like this who have had to prove improve on this tends to jam out find excuses double-booked over schedule you are sending a clear message tear team that they don't matter okay so this really resonates strongly in terms of good leadership pick a Dan time that works and just you know do it do it methodically so number three is the advisor fit process and so when we're talking about bringing on new advisors you know you really want to make not only a great first impression especially if you're an advisor acquisition mode so that when they're talking to their peers and colleagues and others who may also be looking for a new home that the story they tell is absolutely magical but also the sooner you can you know you know ensure that the person that you're bringing on is a good fit the less headaches you're and a half so for instance some of the teams that I'm working with and you know some of them have like 10 advisors some have 27 the biggest one has 30 but what they're recognizing is in the early days they were just acquiring advisors and now they're identifying and we've gone through that same concept with them of not all advisors are created equal who is your ideal advisor in terms of the assets they are bringing with them the attitude we want to make sure that they're aligned with us and this isn't going to be hard work it's going to be easy work and finally alignment making sure from a business perspective attitude is you know more generalized but alignment is there fee base like us they want systems they want they like our branding they're engaged in what we do so making sure that there's a good solid overlap there otherwise what you end up is bringing on a new advisor who is not a good fit to your point Terry I have worked with teams who through the coaching process have recognized that it is a bad fit and they do part ways in fact this morning I was talking to one coach and literally the first three calls I had with his team I knew that someone had to go I mean I didn't want to be the one to say it but I asked all the right questions and within three months that that other person was gone it was just a bad fit and so bad hire it's bad fits whatever you want to call it they're they're a brain drain they're costly they take a lot of energy so take the time to be really specific this is like a marriage you're probably going to spend more one-on-one time in the same office with this person then you might even with your spouse at home so take the time to get it right I had another team they were looking for an advisor it took them four years to find the right person but to your point you know they really wanted to make sure Terry that they were doing it right but they weren't going to have to undo this thing they were on solid ground moving forward well it makes sense right mean you have an ideal client profile or at least I should I mean you should have an ideal advisor profile as well too if you don't stand for something and documental because looking for a will you're probably fall for anything as the old expression goes at a super high level now let's just go through the advisor acquisition flowchart that we use and helping teams that put all this stuff into place okay so just like when you bring on a new client when you bring on a new advisor there's got to be a way of assessing that fit so just at a very high level and again of course we've got tons of resources to support all of this but you know get making sure there's that pre-appointment phase really set a positive impression for that very first meeting which is really general interest it's like a first date you're trying to get to know a little bit more about each other see if you've got the chemistry to see if it makes sense to move into that second meeting which is more about initial fit so that's when we start talking about current business models expectations looking at are they really a fit based on who we define is our ideal advisor and for those people where that answer is yes we're moving into that third appointment which is where the devil is in the details this is where we start getting into the ingredie around expectations roles responsibilities production all that kind of stuff all the tricky stuff that really needs to be talked about and put on the table and then the fourth appointment the purpose of that is really to outline the structure based on everything we've heard up until that point in time so that we're ready to put together a solid contract agreement partnership to work together however that model is for you so that it's it's go time but like everything else in Pareto it's about quality not quantity taking your time doing it right making sure that every step in the process both people are eager to proceed and it's funny I had one team where they're like well we keep calling them for the you know the second meeting and they're not getting back to us well guess what that you know they don't want to be there I mean III don't want to bring someone on that isn't as enthusiastic about working with me as I am with them so watch for those signs as you sort of bring someone through this process um ask yourself the question are you ready to go do you have a you have all this stuff in place right and and really you're deep struck into the theme of today and when we bring on a new adviser and it is a good fit and all that kind of stuff how seamlessly does this person integrate in your team and and the Devils in the details uh you know I had a lady switch firms while I was working with her and you know they promised her the moon and the Sun and it was its immense courtship and like literally she when her first day at work she didn't have all the tools she needed she didn't have the support she needed the person that had been courting her the whole time was basically you know it was around there was nowhere to be found and this went on for quite some time and you think this lady is ever going to refer somebody else to the firm which I'm assuming is still important in this business by the way but as if anyway it's still a struggle and we're like a year and a half later and if only she knew not knowing all this stuff before if you know things might have gone a little differently so there's all kinds of things you can do to integrate this person into your team the comprise four to four major areas uh you know their new home the office space you know in the climate - that the human resources are going to have to navigate through right the marketing as they start to glom on to the team's branding and their their their marketing you know their letterhead and email signatures and anything else that goes under that umbrella and of course the client transition right uh you know their business being integrated into the new business so we all end up looking the same at the end of it all and of course the answer to that is having a best practices playbook that everybody can can follow along with so the onboarding process is critical not only to select the ideal advisor for you but to also integrate them in a way that's delightful as well as being efficient because you know what you want to do it again and ideally want the the person that was just not bored to send somebody else or do you'd make your life even easier and of course that happens all the time but only if the environment is suitable to introducing somebody else into it right so it's all about making an exceptional impression if you're listening to this stuff and thinking well a lot of the stuff applies to my clients as well - and bringing on new clients well you know what you're absolutely right it's the same it ticks the boxes of satisfying some essential elements of human nature and what we hope to have happen when we switch over to a new firm and sadly it doesn't happen all the time so congratulations were at the fourth and final stage of the exceptional teams framework and it is that advisor onboarding process again as Terry was saying we want a professional proactive welcome approach one that makes them feel good and invokes trust and confidence that they've made the right decision we don't want to have any buyer's remorse we also don't want to make their first few weeks months really difficult anyone who's ever moved firms know it's a ton of work a ton of energy a ton of time anything we can do to make that transition process easier is going to go a long way I will say that as it relates to these four areas office space operations Human Resources marketing and branding and the client transition those first three really apply to anyone you're bringing on your team so you know you may not be bringing on a new advisor but you might be hiring and it was cent or a new associate or somebody that's doing marketing or whatever the case may be and there's nothing worse than showing up on your first day and you know you've got a desk but you know your computer doesn't have all the programs your phone isn't set up you don't have an email signature it shows that you know they weren't really prepared for you to come on board and it actually inhibits their ability to actually get up and running quicker and I know most of the teams that I work with their big goal with a new hire is how soon can we integrate well how soon can you have things organized and ready for them to be on board because it's these little things that will make them wonder if they if they've made the right decision to your point Terry a lot of promises made and then disappointment right okay so just to stop now and we're talking about this whole turnkey approach to maximize client conversion the tools and resources that you need for every step every team should absolutely have this a consistent approach for your branding so it's duplicate Bowl like the McDonald's version transitioning clients this is all the things that you know this jumpstart the movement and you know there's an entire client transition process that's really important as part of this piece of the puzzle because the sooner you can assist a new adviser transitioning clients to your house the sooner everybody's making money so we know that the assets need to get moved we know that we want them to be focused on talking to their clients lots of conversations lots of paperwork make sure there's a transition support team to help in that short term make sure there's a plan and approach that's been outlined confirm expectations around timelines and activities and have everything ready to go so you know in this little process that you'll see there we've got all the things leading up in the days and weeks ahead but also even a client welcome process so again I've always got my client hat on and when my advisor moves you know it's a big deal to me to fly you know to sign all those forms make the decision to follow maybe work with a firm I've never even heard of before that's a big deal and so we've got some processes that really demonstrate to your clients that quote-unquote once they sign the paperwork that you're still paying attention that you're very client focused and it reinforces that this is going to be a good positive change so lots of really neat tools there to help you make sure once you've decided you want the advisor how to bring them on board and make their clients you know come over quicker so when it comes to building that operational blueprint for your advisory practice you know we've kind of walked through at a very high level like Terry said we could probably spend an hour talking on every one of these and more just based on our experience working with all kinds of different teams across North America but you know our big wish for you today is to take that who piece that that big chart that had all the business activities and just really map it out so you get a sense of the way things are and if anything needs to be shifted this is a really great opportunity to do some sort of spring cleaning around any redefining of roles and that's the next step to getting started on your playbook so if there is a place that I was going to start this is where I would recommend it is every team I work with who does it finds value I will tell you I'm a color coder I always give everybody their own building and they like it because then they see exactly where their name is but I just like things that are pretty so it's all good I admit it I'm a color coder this the exceptional teaming playbook we'd like the play books a parade over for very good reason your pilot doesn't you know take that plane to take off until he goes through methodically his or her checklist and thank goodness for that by the way the same is true when building team the same is true when building an advisory business we have this playbook we encourage you to use it and make use of it even if you didn't have all the tools behind it would still be helpful so please please think along these lines sherry and I are very grateful they made some time for us today over the course of your busy day we know your time is valuable we hope we pass on some things that are a value to you and we wish you the best of luck and only building your team but having successful advisory practice thanks everybody well no surprise Terry and cherry of course do an exceptional job they got a little chatty there which of course leaks into my presentation which is coming up so I'll shorten that it's all good of course as you heard your team I mean it's one of your most valuable assets but you know how we say like a client they're not buying something they're buying into something you want your team to be tethered and part of that is buying into your vision in terms of what you're trying to create and what that looks like and empowering them to be crystal clear on their role and everyone's staying in their lanes so there's no micromanaging or drifting it's very a creative very complimentary and there's that's where the multipliers are born I would highly recommend in the spirit of creating organization and structure that you request the org chart around roles and responsibilities you can ask me on LinkedIn for that or you can just track us down here at the office but just the exercise alone in terms of examining the why the who the what the when and the how it just gives you so much clarity and then it springboards you in into the rest of the framework and the process to put you on the trajectory of that exceptional team status and that's an elite group so visit Pareto systems comm to request that roles a responsibility org chart and to learn more about what our teaming program looks like we pasted that based on the many moving parts and the players on your team it's very predictable and very much customized so if you want to create your own playbook and operational blueprint that's a good next step okay we'll take one last break and then come back for the crescendo the last event where I'm going to walk through some of my observations and silver linings and actionable strategies that you can deploy to head you down a path where you can add some certainty to what you're trying to accomplish so we'll see you back here in ten minutes and feel free to chime in with us on LinkedIn okay see in a bit toolkit is a cloud-based CRM ideally suited for financial professionals and teams that want a simple solution that works it has 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