Are you tired of one-way love affairs with other advisors?
By Sarah Carlson SOFA
The Society for Financial Awareness
We have been told time and time again that "there is no 'I' in team" and that a team mentality is the best way to go for team means: Together Everyone Achieves More.
Are you tired of one-way love affairs — you know, where the other trusted member of your client’s team blows up your deal or plan?
More and more we read articles and listen to industry gurus stress the benefits of aligning ourselves with key financial professionals such as CPAs, estate planning attorneys, mortgage brokers, realtors etc. — which is all great and the benefits of doing so are far beyond obvious. However, the real issue becomes how to create a successful team where everyone is actually working together for the common good of one another; growing each other’s practice so that no particular party is pulling more of the weight than another.
Often in our industry when we align ourselves with the client’s other financial professionals, it becomes a total one-way love affair. We are always the new guy on the team, continuously sending leads and referrals to our teammates and then begins the never-ending battle to request, ask and eventually beg for the effort to be reciprocated.
Why don’t we build upon the recent ProducersWEB Twitter chat featuring co-host Brandon Stuerke discussing working with CPAs and how to get professional referrals while capitalizing on the concept of a team approach to financial planning.
Here are some additional things to consider. The keys to having a successful team are:
1.) Finding like-minded professionals
You pick the team members — your book of business is as valuable, if not more valuable than theirs. Work with professionals like yourself who possess the same desires, motivation, ambition and drive to do whatever it takes to achieve all of your goals in business.
2.) Create leverage
Why would someone want to join your team? Think about what you have that they don't, and why they can’t get it without you. I have some great ideas for this one.
3.) Do not be grateful, be reciprocal
All too often we become these grateful people — so thankful that the CPA or attorney or whomever has even chosen to work with us, that we rationalize and justify why it's ok that they don't send us leads or provide us with any immediacy of service. Stop it! If the people on your team aren't working for you and helping you as much as you are them, time to move on and find a new teammate.