Working with a new assistant can be a challenge for even the most experienced advisor. But rookies are faced with a unique challenge because their assistants are often juggling the demands of other advisors within the practice, according to Sara Gilbert, founder of Strategist Business Development in Montreal.
The role of an assistant is similar to that of a business partner, Gilbert says, and you and your assistant should work together to grow your practice. Gilbert recommends that you begin meeting with your assistant on a regular basis as soon as you join or start a business.
Here are four tips to make your relationship with your assistant productive:
1. Create a meeting schedule
For rookies, Gilbert recommends you contact your assistant every two weeks or once a month. These meetings are less frequent than those of larger teams, but they are still important, she says.
To create consistency, Gilbert says, hold meetings at a consistent time. For example, you can meet with your assistant for 30 minutes on the first Monday of every month. There should also be consistency in the agenda. For example, you can discuss the business’s current status, the direction in which it is headed, achievements and areas that need improvement.
2. Share your vision
From the get-go, make your assistant part of your business by sharing your vision with him or her.
“The more you include them in your business, the more they feel that they’re part of something big,” Gilbert says. “Everyone wants to be a part of something and often advisors forget that this includes assistants.”
Sharing your goals with your assistant can help to ensure that you both stay on track.
3. Seek your assistant’s input
Take advantage of your assistant’s experience. It’s likely that he or she is working with another advisor, or has done so in the past. Your assistant can be a great resource for suggestions on issues such as how to market your business.
For example, if you have concerns about segmenting your book, ask your assistant what he or she has seen work well in the past.
4. Hold your assistant accountable
At the start of your relationship, tell your assistant that he or she is at least partly accountable for your professional growth. You can ask him or her to keep track of the cold calls you make, the number of prospects you meet and the number of clients you’re touching base with.
Think of your assistant as your “accountability partner,” Gilbert says. By confiding measurable goals to your assistant, you’ll be more inclined to follow through with them.
This is part of an occasional series featuring tips for rookie advisors.