Financial Advisor Success Ep 112: Finding The Time To Get The Right People Into The Right Seat Of Your Advisory Firm with Andrea Schlapia
Feb 19, 2019
Andrea Schlapia, founder of Ironstone, coaches financial advisors on transitioning from a practice to a business. She introduces her 'fundamental four' framework, emphasizing strategic planning, business development, operational effectiveness, and the human element. The conversation highlights the importance of hiring the right team, with Andrea recommending a rigorous, multi-stage hiring process including simulations. She also advocates for monthly development days to foster internal growth and stresses frequent feedback over annual reviews as crucial for team success.
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Run Quarterly Performance Feedback
- Hold performance feedback sessions regularly, ideally every 90 days, not just annual reviews.
- Use them as collaborative coaching conversations with self-assessments and agreed action steps.
Common Gaps In Growing Advisory Firms
- Successful advisory firms often excel at strategy and business development but underperform on operations and the human element.
- Andrea calls those latter two areas the biggest gaps preventing firms from scaling into true businesses.
Hire With Role Clarity And Simulations
- Define the role and expectations before hiring and build a structured onboarding plan for the first 90 days.
- Use simulations and multiple interviews to test real-world skills and set new hires up for success.
