Have a team meeting

A good old-fashioned meeting can help prevent errors that stem from miscommunication. “Team meetings are vitally important to make sure everyone is on the same page,” says Michael Silver, co-founder of advisor coaching firm Focus Partners. You need to begin using team meetings to discuss operations and administrative issues, pending business, how the team is measuring up against goals, marketing, feedback and anything that will you help get a better handle on your firm, Silver says. “A weekly ‘all hands on deck’ team meeting should be at the same time, the same day, once per week,” he says. “It should be a recurring event on the calendar for everyone and they need to keep this time slot open.” In addition, advisor might want to consider a trimmed down more frequent meeting. “We recommend a ‘daily huddle’ for 5 minutes per day to review anything going on from the prior day and the current day,” Silver says. Either way, the meetings need to be agenda-driven. “Hold these meetings to make sure that people are doing the right things at the right time,” says Eric Sheikowitz, Focus Partners co-founder. Without regular team meetings, things can get lost or forgotten Silver says. “People aren't aligned and in the loop about what's going on with the team.”