flevyblog

Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.
MANAGEMENT & LEADERSHIP STRATEGY, MARKETING, SALES OPERATIONS & SUPPLY CHAIN ORGANIZATION & CHANGE IT/MIS Other

Financial Advising Series (FAS) Series: Performance Management by Role

Editor’s Note:  Karen Reitor, President of Communique Productions, is an author on Flevy and has published a series of 25+ best practice tools on Performance Management for the Financial Advising Services (FAS) vertical market.  These tools, including training guides, templates, and forms, are used to develop and deploy the FAS Performance Management Process.  The full suite of tools are available in the FAS Performance Management bundle (here).

Communique Productions, a boutique consultancy specializing in learner-centered and activity-based training, is one of Flevy’s premiere authors. Communique has worked with over 175 clients and completed over 3,000 talent development and management consulting projects, including a multitude in the Financial Advising Services (FAS) space. Over the years through their FAS client engagements, Communique has developed an FAS Performance Management System.   This series of articles written by Karen discuss the FAS Performance Management System and its underlying roles and applications.

* * * *

As you can imagine, Performance Management should be clearly defined by role. This section discusses how Performance Management differs depending on the role being evaluated; and we highlight FAS role-specific Performance Management best practice guides. Transformational roles for financial advising firms are specifically defined including specific position descriptions and performance expectations as well as performance assessments. (The performance assessments include sample future performance goals.)

In the last article in the series, we focused on the FAS Operations Manager.  This article will discuss a breadth of FAS roles and highlight specific tools developed for each role.

Operations Manager

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

This Performance Assessment is completed prior to the end of a probationary period, periodically as needed when there is consistent non-performance and annually to communicate [read more]

The performance assessment includes both Operations and Lead Financial Planner responsibilities. (If the team member is only performing operations management tasks, only those items are rated during reviews.)

While the Managing Principal oversees and manages the performance of the Associate Financial Advisors and the Operations Manager, the Principal may delegate the Performance Management Process for the remaining staff to the Operations Manager.

Associate Financial Advisor

Assoc Financial Advisor Position Desc & Performance Expectations
Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]
FAS Client Meeting Observation and Coaching Form
This tool may be used to communicate expectations to advisors meeting with clients as well as to monitor and promote ongoing development. The observer attends scheduled client [read more]

Lead Financial Planner

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

The performance assessment includes both Lead Financial Planner and Operations Manager responsibilities. (If a team member is only performing lead financial planning tasks, only those items are rated during reviews.)

Licensed Case Analyst, Paraplanner, and Trader

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

This Performance Assessment is completed prior to the end of a probationary period, periodically as needed when there is consistent non-performance and annually to communicate [read more]

Client Care Specialist

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

This Performance Assessment is completed prior to the end of a probationary period, periodically as needed when there is consistent non-performance and annually to communicate [read more]

Senior Financial Advisor Assistant

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

This Performance Assessment is completed prior to the end of a probationary period, periodically as needed when there is consistent non-performance and annually to communicate [read more]

Business Processor

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

This Performance Assessment is completed prior to the end of a probationary period, periodically as needed when there is consistent non-performance and annually to communicate [read more]

Calendar Manager and Meeting Planner

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

This Performance Assessment is completed prior to the end of a probationary period, periodically as needed when there is consistent non-performance and annually to communicate [read more]

Client Concierge and Office Coordinator

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

This Performance Assessment is completed prior to the end of a probationary period, periodically as needed when there is consistent non-performance and annually to communicate [read more]

Marketing and Branding Coordinator

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

This Performance Assessment is completed prior to the end of a probationary period, periodically as needed when there is consistent non-performance and annually to communicate [read more]

Finance and Accounting Section

Transform your culture and way of doing business while ensuring the development and accountability of team members and the adoption of quality standards and metrics to support [read more]

All positions include customized position descriptions. All but two of the positions include customized performance assessments. The Associate Financial Advisor has a Client Interaction Observation and Feedback Form. Coaching is utilized for non-performance of the expectations detailed in the document for the Finance and Accounting Section.

About Karen Reitor

Karen Reitor is the President of Communiqué Productions, a Certified Management Consultant (CMC), and a certified professional in Learning and Performance. Since establishing Communiqué Productions in 1985, Karen has managed and/or designed, developed, and facilitated over 3,000 training & development and consulting projects in more than 175 organizations. She is a recognized as a leader in learner-centered and activities-based training. Karen has spent over 30+ years' experience improving organizations with unparalleled results in the industry. Communiqué Productions is also an author on Flevy. You can browse their best practice tools here.

, , , ,



Complimentary Business Training Guides


Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]   This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]
We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]   We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function

  

  

  

  

  


The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most articles have been contributed for management consultants and industry executives with over 20 years of experience. If you would like to contribute an article, please email our editor David Tang at [email protected].

Flevy (https://flevy.com) is the marketplace for premium business documents, such as management frameworks, presentation templates, and financial models. Our documents are of the same caliber produced by top tier consulting firms, like McKinsey, Bain, Accenture, BCG, and Deloitte. Learn more about Flevy here.


Connect with Flevy:

   
  


About Flevy.com   /   Terms   /   Privacy Policy
© 2020. Flevy LLC. All Rights Reserved.