Coaching is the most effective path for advisors who aspire to significantly improve the performance of their practice. Our coaching process identifies specific areas of a financial advisor’s practice for continued improvement and refinement We work one-to-one with advisors and their team to address the challenges and opportunities unique to their practice.
Our coaching approach begins with a very in-depth assessment of the advisor’s practice. This initial discovery/assessment questionnaire is completed by the individual advisor and incorporates the perspective of all team members. After our coach reviews the assessment information, the second step is to conduct an interview with the advisor and/or the team to discuss the results and begin to build a dynamic, results-driven business plan.
Your Individualized Plan
Step three in the process is driven by the advisor’s initial motivation to engage a coach. For some, the emphasis is on growing their practice; for others, the initial focus might be to improve team dynamics. For top performers, it might be to optimize practice efficiency and improve the work life balance of the advisor. This step involves the creation of a business plan, or set of recommendations for implementation. Examples might include a SWOT analysis (strengths, weaknesses, opportunities, threats); role clarification and accountability; development and improvement of business practices. After a review of the recommendations, a game plan is laid out to integrate these recommendations over an agreed upon timeline.
Your Unique Value Proposition
Our work in studying the very top performing financial advisors has identified an important next step in the coaching process: the creation of an effective Unique Value Proposition. Altius has developed an in-depth, intense five-step process to assist you in crafting and effectively articulating your Unique Value Proposition. This process is included as part of our 1:1 coaching assignments and is available to our group coaching clients as well.
A Continuous Process
The 1:1 coaching engagement is highly customized to the needs of the individual advisor or team with the objective of achieving their specific goals. Consequently once the initial steps are successfully completed, there is often a shift in focus and the business plan is further refined. Ongoing coaching is accomplished through scheduled monthly calls. The business plan recommendations drive the discussion for the monthly calls and are focused on the implementation and execution of the business plan. Each of these calls is followed up with a written summary of the discussion and a development of action steps for the next month. You will have on-going access to your coach via email for the duration of your coaching relationship.
Top Performers are Actively Engaged
They are ready to work hard, step beyond old behaviors, try on new ways of thinking and engage in a disciplined approach. And they value the power of coaching.
The process begins with an in-person baseline assessment and thorough analysis of the Advisor’s practice and core wealth management offering. Using the results of that analysis and overlaying the 13 Success Principles, the Altius Learning Coach works with the Advisor and his/her team to craft a dynamic, highly customized, results-driven business plan designed to significantly improve performance and developing a world-class practice.
Number/Duration of Sessions:
First session is an in-person meeting with the Coach. Subsequent meetings take place via scheduled calls, usually once a month, for 12 months. Each call lasts 90 minutes. The calls are focused on the execution and implementation of the business plan. Each call is followed up with a written summary of the discussion and a list of action steps to be completed within the month.
Unique Value Proposition:
Advisors will be guided by their Coach through an intense, five-step process to develop their Unique Value Proposition. It will define the value they offer and differentiate them from the competition.
Length of Coaching Contract:
One year, however, many participants renew annually.