Over the course of my career in financial services, I’ve worked with a lot of talented people and successful firms.
I kept seeing the same problem.
We bring people into this industry and expect them to figure out far too much on their own.
This is especially true for people new to financial services. They may be smart, motivated and capable, but our industry is complicated. There is a new language to learn, unfamiliar processes to understand, technology to master, clients to serve and advisors to support.
Too often, development consists of learning the firm’s systems, shadowing someone for a while and then gaining knowledge through experience.
Eventually, many become very good at what they do.
But it can take years.
That is why we created Advisory Education Partners.
I believe people develop faster when learning is intentional.
Technical knowledge is important, but knowledge alone isn’t enough. People also need to learn how to communicate, exercise judgment, solve problems, manage priorities, understand clients and recognize opportunities or potential issues.
In other words, firms need to develop competency, not simply provide training.
And this isn’t just an employee-development issue. It’s a business issue.
When people aren’t adequately developed, work naturally gravitates toward the most experienced employees. Questions constantly flow upward. Advisors get pulled into operational matters. Managers become bottlenecks. Too much institutional knowledge resides with too few people.
The result is a firm that may be growing but becomes increasingly difficult—and stressful—to operate.
Developing people changes that equation.
Capable employees solve more problems independently. They recognize what needs attention. Managers can delegate with greater confidence. Advisors can spend more time with clients and prospects. Cross-trained employees can step in when another part of the organization gets overwhelmed.
The result isn’t just a better employee. It’s a better firm.
That’s what AEP is designed to help create.
We provide education, coaching and development resources specifically for financial advisory firms. The goal isn’t simply to teach people how to complete today’s tasks. It’s to help them build the knowledge, skills, judgment, behaviors, communication abilities and experience they need to take on greater responsibility tomorrow.
Ultimately, I believe developing people is one of the most effective ways an advisory firm can improve the client experience and create capacity for growth.
AEP exists because I believe our industry can do a much better job developing its people.
When we do, we create better employees, stronger teams, better client experiences and more scalable firms that are simply better places to work.
-Nick
The Employee Training & Development Partner For Independent Financial Advisory Firms