If there’s one thing that can ruin a great team, it’s getting compensation wrong.
I’ve seen it happen over and over—advisors accidentally overpaying, then having to backtrack (and losing their best people). Or underpaying, and wondering why top talent isn’t sticking around.
In this solo episode, I’m breaking down the 3 biggest compensation mistakes I’ve seen independent financial advisors make, and how to fix them before they cost you your best hires.
If you want to build a team that scales with you, attracts A-players, and doesn’t require endless hiring and firing, this episode is for you.
3 of the biggest insights from the episode …
#1.) Stop Compensating for Today—Start Planning for Tomorrow
Most advisors set comp structures based on current needs, not where their business is going. The result? A structure that doesn’t scale, overpays some roles, and causes resentment among the team. Learn how to future-proof your pay model before it’s too late.
#2.) Match Compensation to the Role—Not the Person
If you’re deciding pay based on an individual, not the job, you’re setting yourself up for chaos. I'll break down why comp should be role-based, scalable, and fair, no matter how many team members you add.
#3.) Your Compensation Plan is Only as Strong as Your Training Model
Hiring a great advisor? That’s step one. But if you don’t have a structured training track, you’re setting them up to fail. I’ll share how to mirror your comp plan with training, so new hires can ramp up fast and start producing sooner.
SHOW NOTES
https://bradleyjohnson.com/106
FREE GIFT + JOIN THE DBDL INSIDER CREW
Today's Gift: 30 minute 1:1 coaching call with Brad
Are you a financial advisor who feels stuck, needs help, or simply wants to have a conversation with Brad? Text “Coaching” to 785-800-3235 to apply for a 30 minute Zoom coaching session and we’ll send you a link to Apply. That will also make you a DBDL Insider with VIP access to future resources and exclusive content. *Message and data rates may apply. Reply STOP at any time to opt-out of receiving text messages.
FOLLOW BRAD JOHNSON ON SOCIAL
FOLLOW DBDL ON SOCIAL:
DISCLOSURE
DBDL podcast episode conversations are intended to provide financial advisors with ideas, strategies, concepts and tools that could be incorporated into their business and their life. Financial professionals are responsible for ensuring implementation of anything discussed related to business is done so in accordance with any and all regulatory, compliance responsibilities and obligations.
The Triad member statements reflect their own experience which may not be representative of all Triad Member experiences, and their appearances were not paid for.
Triad Wealth Partners, LLC is an SEC Registered Investment Adviser. Please visit Triadwealthpartners.com for more information. Triad Wealth Partners, LLC and Triad Partners, LLC are affiliated companies. TP02254220351
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Do Business. Do Life. — The Financial Advisor Podcast — DBDL