Maximize Your Team





"The secret of all victory lies in the organization of the non-obvious."


Marcus Aurelius



What you can expect from this best practice:


  • Develop the best structure and organization for your wealth management team

  • Assign areas of core responsibility within your business to others

  • Identify specific tasks within each area each team member will own

  • Create clear and accurate job descriptions

  • Have a professional approach to announcing new individuals joining the team   

  • Successfully delegate tasks and activities within your team

  • Know how to plan strategically for future changes on your team



Determine Your Organizational Chart

  1. Review and print the Organizational Chart.

  2. Complete the worksheet with your team so it reflects your existing business configuration as follows: 

    • At the top of each core function (i.e. Account Administration) you will need to identify who is coordinating that area of the business.

    • Beneath each core function you will need to identify who is responsible for the sub-activities within that area (i.e. Application Follow Up, KYC, etc.) – there may be more than one person involved in the different areas.

    • Add columns if necessary to include other core business areas.

    • Add activities underneath each column where required.

  3. Analyze your Organizational Chart and make any final adjustments you believe will strengthen your business operations.


Update Job Descriptions

  1. Update or create job descriptions to reflect the responsibilities outlined in your Organizational Chart.  You may wish to refer to: 

  2. Once updated, carefully review it with each team member individually.

  3. If you have realigned new tasks to them, make sure they have a process for how to complete it, the necessary tools (i.e. access to systems, office equipment), and receives additional training if needed – to ensure their success.

  4. When adding new individuals to your team, refer to the Team Announcement.


Create Efficiency Through Awareness

  1. Analyze who is really doing what within your business.  Begin by reviewing Create Efficiency Through Awareness.

  2. For two weeks, instruct each individual on the team to record office tasks and activities using the Time Assessment Worksheet.

  3. At the end of the two-week period, analyze the patterns of activities to identify opportunities to:

    • Reassign

    • Reduce

    • Remove

  4. Any time you are frustrated with your ability to stay on top of things related to your role or things are not going smoothly on your team, revisit this exercise to determine what needs to change.  Just as your business continues to evolve, so too will the people and roles along the way.




Recommended Reading


Staff to Last, by Lauren Farasati is a great resource designed

"For Financial Advisors Only".






These two videos are the same, but are offered in two different formats to accomodate our users. 

If you cannot access YouTube (the first video) click on Vimeo (the second video).