Practice Management
Building a foundation for successful teams
Invesco Global Consulting shares key considerations for financial professionals as they work to build successful teams.
More than one-third of financial professionals will retire in the next ten years, accounting for nearly 40% of the industry’s assets.1 Many of the acquiring and retiring financial professionals are unprepared for the comprehensive planning and communications needed to succeed. Over one quarter of those who said they planned to retire also said they did not have a succession plan.1
Succession plans need a clear, concise and consistent communications strategy to be successful. When potentially disrupting long-term client relationships, it matters what you say, when you say it and how you say it.
Invesco Global Consulting teamed up with word specialist, Maslansky + Partners, in a comprehensive study with investors with the goal of gaining their perspectives and perceptions. How do they want (and not want) the retiring and acquiring financial professionals to communicate to them? What would cause them to leave? Most importantly, what would cause them to gain trust in the transition and the acquiring financial professional?
The unique research generated highly actionable lists of “words to use,” “words to lose,” talking points, scripts and a communications timeline that are designed to be easily implemented by financial professionals into their succession plans.
Source: Cerulli Associates, US Advisor Metrics Report 2020. Used with permission
Building a foundation for successful teams
Invesco Global Consulting shares key considerations for financial professionals as they work to build successful teams.
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This program aims to help financial professionals use personality dynamics to attract and retain clients.
Transformational leadership
Invesco Global Consulting shares five areas of focus it has found to help financial professionals become stronger leaders.
To learn more about Invesco Global Consulting services and resources, you can contact us here.
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"Changing the Guard” is based on Invesco Global Consulting’s proprietary research and on its work with Maslansky + Partners. Invesco Distributors, Inc. is not affiliated with Maslansky + Partners.
This material is for illustrative, informational and educational purposes. We make no guarantee that participation in this program or utilization of any of its content will result in increased business.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
The opinions expressed are those of the author and are subject to change without notice. These opinions may differ from those of other Invesco investment professionals.
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