By definition, the effectiveness of a personal service organization depends on the effectiveness of its service team. In turn, the team depends on the ability of the business to attract, retain and optimize the best possible talent. Because wealth management companies are personal service organizations, they must focus on a human capital strategy to maximize their effectiveness.
It's really that simple. An effective human capital strategy is key to running a successful wealth management company. At the Colony Group, where I'm CEO, our strategy is built around the following elements:
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