Building a team and making it work are two different things, especially when succession planning depends on your relationship with your next-gen advisor.

Hosts Tyson Ray and Kim Cochenour are joined by JAM Consulting Group’s Kaleen Barbera to discuss and explore the behavioral science behind effective teams.

Feelings come before facts, asking before telling builds connection, and acknowledging different opinions aligns everyone toward a common goal.

• Kim Cochenour kicks things off by stressing that advisors need to remember that building a team and making it work are two totally different things.
• Guest Kaleen Barbera shares her story of 30+ years in the financial services industry.
• Building better relationships with advisors and helping them grow their practice have been two key areas of focus of Kim’s.
• From a behavioral science perspective, there are several things that make a team work, including structure, asking before telling, and acknowledging that feelings come before facts.
• If we’re unable to engage each other in a way that builds connection, it’s going to be truly difficult to align and reach a common goal.
• Kaleen touches upon a client who she has helped build a better relationship with his team.
• Acknowledging that someone might have a different opinion is important, especially when it comes to succession planning and your next gen advisor.
• Tyson opens up about the transformation he underwent as a leader and how that has impacted his firm.
• Kaleen lists a few things that should spark the need – or the possibility – of asking for help as a financial advisor.
• It took Tyson some time to start letting go and creating space for others to step in.
• When it comes to financial planning, one of the fundamental steps is to highlight what the cultural values and team philosophy are.
• Tyson, Kaleen and Kim talk about the importance of the vision part, and what founders should do when they have an idea in their head.
• Kim sees the S.P.A.C.E. framework as something that can be applied even just to your team members.
• Tyson, Kaleen, and Kim end the conversation by discussing how (and when) JAM Consulting Group could help financial advisors and leaders.

Mentioned in This Episode:

TotalSuccession.com

TotalSuccession.com/podcast

FORM Wealth Advisors

Tyson Ray

Kim Cochenour

Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First

Kaleen Barbera

JAM Consulting Group