5 Things Junior Advisors Wish They Could Tell Their Bosses

For the last six months, Top Advisor has coached many associate wealth advisors. Aric Johnson, the lead coach for the associate wealth advisor coaching program, shares the biggest struggles associate wealth advisors face and what they wish they could tell the primary advisor.

Here are five things they wanted to say.

Source: Matt Halloran, founder and president, Top Advisor

1. “I don’t have time to do all the things I need to get done.” 1. “I don’t have time to do all the things I need to get done.”

Bad habits are hard to break. Bottom line is that we need to create new habits to replace the old. Many times the associate is the dumping ground for all tasks great and small. The primary wants them to bring in new business but, they also have to get a lot of minutia done. The primary needs to know that all success is not measured in new AUM.

2. “I want to prospect new clients but I’m not sure what approach to take.” 2. “I want to prospect new clients but I’m not sure what approach to take.”

Where you’re located plays a large part in how you market. Small town marketing differs greatly from a large city with a lot of industries. Most often my clients know one or two ways to prospect but struggle to think outside the box. Having someone dedicated to helping them find new, creative, and effective ways to prospect changes the game completely.

3. “My primary is micro-managing everything I do.” 3. “My primary is micro-managing everything I do.”

We understand that keeping your eye on your employees is the job of every boss, but it can be taken too far. Micro-managing is stressful for everyone involved except maybe the manager and they probably don’t think they do it. As our coaching process begins, we help to alleviate stress by taking over the accountability piece of the relationship. Once we begin to make changes in the way the junior advisor uses their time and help them incorporate the tools we give them into their normal routine, the primary loses the need to micro-manage the junior advisor.

4. “My primary is great, but doesn’t have time to mentor or help me.”  4. “My primary is great, but doesn’t have time to mentor or help me.”

Here is the flip side of the coin. Junior advisors cherish the relationship they have with the primary and can find it hard to articulate their needs in this situation. They don’t want to be a “burden” and many times the primary is so busy with their own clients and running the entire office they don’t see the junior advisor struggling. As the primary advisor, you have enough on your plate to deal with without having to worry about teaching all of their junior advisors the newest ways to market, prospect, and build strong relationships with clients.

5. “Closing business isn’t my strong suit.” 5. “Closing business isn’t my strong suit.”

Any advisor that has been successful in this business can tell you that there is an art to closing business. I truly believe that some people are born closers but also believe that it is a skill that can be taught. Many of my clients struggle with how to close business without being too pushy or how to push just enough to get the deal done. Finding the balance can be tough, but having someone experienced in effective communication teach them the skills makes all the difference.

One More Thing... One More Thing...

The last thing that primary advisors need to remember about the associate advisors that work under them is they have goals and dreams, both personal and professional. I’m not saying that primary advisors aren’t in tune with the needs and wants of their staff, but sometimes associate advisors don’t share these with “the boss.”

Often advisors don't have the time to motivate, hold accountable, and help junior advisors with their time management and goals. Here are the biggest struggles junior advisors face and the things these associates wish they could tell their bosses.

Comments (4)
And how do we politely make this article available to our primaries incase they are not reading this!? I'm experiencing 4 out of 5 of these!!!!
Posted by Eric M | Monday, July 29 2013 at 1:25PM ET

A discreet email might work... The thing we found is that they know it (we started with a list of 10 things juniors wish they could tell their bosses).

Posted by matthew h | Monday, July 29 2013 at 1:59PM ET
Great one my friend awesome presentation through sides the pictures are amazing and the idea give a good over view of the scenario to the readers ..keep updating thank you.
Posted by jane g | Sunday, August 04 2013 at 1:21PM ET
I don't have an advisor but if I am ever looking for one I definitely will keep this info in mind. Great tips!
Posted by STEVE B | Tuesday, August 27 2013 at 2:17AM ET
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