Setting goals and building business plans can Accelerate Advisor Success. If the effort is built on manual processes and information is not easily shared across the organization, the potential to grow is limited. Why? Because exclusively relying on one-to-one interactions and/or manual processes is not scalable, which means that the accelerated success you realize with one advisor cannot easily be replicated with others.
Creating a scalable advisor success platform starts with understanding how your institution runs and what successful advisors are doing to drive results, whether you are communicating one-to-one, one-to-few, or one-to-many.
With a clear understanding of what is making advisors successful today, you can begin to document these strategies which can be repeated so your advisors can all achieve higher levels of success. As those strategies are adopted by more advisors, you will have a consistent way to look at what is going on across advisor practices. Using these insights, you can leverage your resources more effectively and target them where they can have the greatest impact. As you begin to expand, new advisors can leverage the resources of the financial institution using the same repeatable processes, setting them up for accelerated success.
As you leverage your advisor success platform, better ways of doing things will emerge, as will new strategies and processes. You will find this to be true each time you reach a major milestone. The key to scalability is using an advisor success platform that enables you to leverage what you learn along the way to make improvements without starting from scratch every time. It must be flexible enough to accommodate changes that come as your business evolves.
When talking about a platform for scalability, technology inevitably enters the conversation. That is not to say that technology is required for scalability – in fact, the only thing required for scalability is consistent, repeatable processes that can be executed by multiple advisors and expanded with increasing demand. Technology does, however, make it possible to scale up much more efficiently and effectively. Upfront investment in technology platforms to support your business operations will pay dividends in overall visibility, control, speed and growth. As technology options move increasingly to the cloud, cost and time constraints of implementation are coming down significantly.
The ability to define and replicate the processes of your most successful advisors over and over is what will enable you to scale the business and grow faster.