Advisory Leadership. Using the Seven Steps of Heart Culture to Create Lasting Success for Any Wealth Management Firm

  • ID: 3335897
  • Book
  • 176 Pages
  • John Wiley and Sons Ltd
1 of 4

Praise for Advisory Leadership

"Greg has been and continues to be a visionary in the financial advice industry. His forward–looking approach around technology positioned him and his firm as one of the best practices in the business. Now he is focused on communicating why a positive culture will help you achieve both growth and success. This is a must read for anyone currently in a leadership role and those who aspire to be."

Suzanne Siracuse, VP/Publisher, InvestmentNews

"Greg Friedman brings a unique perspective to the business of financial advice. Not only is he a successful advisor, but he is a successful business owner who has experienced most every phase in a financial advisory firm′s life cycle, from birth to growth to mergers and acquisitions, while at the same time building a leading technology company. He shares his learned wisdom in his current book. You would be wise to add it to your library."

Mark Tibergien, CEO & Managing Director, Pershing Advisor Solutions

"Technical competence is a given for practitioners but it will not benefit our clients if we don′t maintain a viable business. Greg, a nationally respected practitioner who has ′walked the walk,′ shares his extraordinary insights with us in Advisory Leadership. Think about it as a ′viable business insurance policy.′ Read it, heed it, and you and your clients will be well rewarded."

Harold Evensky, Chairman, Evensky & Katz/Foldes Financial

"Greg Friedman′s Advisory Leadership provides meaningful information on practice management and acquisition integration, yet I was most struck by its sense of purpose. Integrating why we do what we do with how we do it was refreshing, rewarding, and exciting."

Ross Levin, CFP®, Founding Principal and President, Accredited Investor Inc.

"Greg Friedman offers what may be the best book in the financial services space on how extraordinary leadership is the key to effective management, with a step–by–step guide on how to function as an extraordinary leader."

Bob Veres, Publisher, Inside Information newsletter

"If you′re not already an admirer of Greg Friedman, this book should make you one. His prescriptions for a happy, successful advisory firm are based on his own experiences and behavior. You owe it to yourself to pay attention. Forget culture wars. Greg Friedman shows you not tells you how to build a culture of peace that will make you and your employees happy and increase your entire team′s chances of business success."

James J. Green, Editor, Investment Advisor and ThinkAdvisor

Note: Product cover images may vary from those shown
2 of 4
Foreword xi

Preface xv

Acknowledgments xix

Introduction: Understanding Heart Culture: Making the Change 1

Chapter 1: Patience: Taking Your Time to Find the Right People 5

Next Gen Employees: Changing Values, Changing Culture 9

Taking Your Time during the Hiring Process 10

Four Steps to Hiring the Right Candidate 12

Benefits 21

Chapter 2: Honesty and Integrity: Speaking Openly and Walking the Walk 23

Overcommunicate Your Values and Philosophy 24

Considering Your Audience 28

The 55 ]38 ]7 Communication Formula 38

The Mehrabian Communication Model 38

What Is the Safe Space? 40

Resolving Conflict 42

Walking the Walk 43

Benefits 45

Notes 45

Chapter 3: Compassion: Unlocking the Secret to a People–First Culture 47

Morale and Profitability 52

Differentiating Me Culture from Heart Culture 53

Benefits 60

Notes 61

Chapter 4: Respect: Promoting Personal Growth, the Key to Inspiring Motivation 63

Helping Employees Explore What Motivates Them 68

Keeping Tabs 73

Benefits 77

Chapter 5: Persistence and Consistency: Maintaining Employee Relationships 79

Choose the Right Management Team 81

Don t Wait for a Scheduled Meeting to Check In 82

Empower Individuals Regularly, Giving Them the Tools They Need to Succeed Delegate 85

Plan Regular Off ]Site Events for Team Building 87

Benefits 99

Chapter 6: Encouragement: Rewarding Firm–Wide Collaboration and a Team Mentality 101

Reiterating Company Values 102

Creating Individual Opportunities 103

Rewarding Teamwork through the Compensation Structure 104

Keeping People Accountable Even Yourself 108

Holding a Biannual Retreat 112

Benefits 115

Chapter 7: Courage: Reshaping Your Company s DNA to Establish Heart Culture 117

Assessing Your Team s Individual Strengths and Opportunities 123

Anticipating Growing Pains Lots of Them 126

Recognizing Culture Killers and How to Avoid Them 129

Rolling Up Your Sleeves and Getting Involved 135

Benefits 139

Note 139

Chapter 8: Implementing Heart Culture in Your Firm: Get Started Today, Not Tomorrow 141

Afterword 145

References 149

About the Author 151

Index 153

Note: Product cover images may vary from those shown
3 of 4


4 of 4

GREG FRIEDMAN, MS, CFP, is founder and president of Junxure, a practice improvement firm, and Private Ocean, one of the West Coast′s leading wealth management firms. He is a relentless innovator and advocate for excellent wealth manage–ment, which earned him recognition three times on Investment Advisor Magazine′s list of the Top 25 most influential financial advisors.

Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown