Practice Management

Tactical complement: Aligning roles and responsibilities

Office Visual Brainstorming

Too often, we find that financial professionals who form teams do so with individuals who enjoy doing the same things they do. This is often what brings them together as friends in the first place. However, you likely don't need another you; one is plenty. You don't need your counterpart; you need your counterpoint!

From our experience, here are examples of team member roles and responsibilities we’d suggest establishing to help deliver a comprehensive wealth management experience. For more, click to view the toolkit below.

Wealth Management Room

  • Separately Managed Account Specialist
  • Portfolio Manager/ Analyst (Style)
  • Fixed Income Manager
  • Mutual Fund and Exchange-Traded Funds (ETF) Manager
  • Certified Financial Planner (CFP) review, present, orchestrate implementation
  • Organize supporting documents, input critical data and summarize highlights for the CFP
  • Risk Manager (estate planning and trust services)
  • Insurance Specialist
  • Corporate Services and Executive Benefits
  • Banking Services (personal and business financing)
  • Philanthropic Services

Client Service Room

  • Client Service Coordinator
  • Client Education and Recognition Coordinator
  • Run the Team CRM (input notes, coordinate schedules and acknowledge important client events and milestones)
  • Organize, schedule and manage annual client reviews

New Business Development Room

  • Rainmaker
  • Seminar Manager and Coordinator
  • Seminar Speaker
  • Strategic Alliance Manager and Liaison
  • Marketing and Communication Manager
  • Referral Reciprocity Monitor and Manager

Practice Management Room

  • Integrated Technology Specialist
  • Business Planning, Tracking and Monitoring
  • Chief of Staff
  • Business Administration and Operations
  • Client Service Coordinator and Administrator
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