Monthly Archives: May 2013

The Generational Transmission of Wealth

The rising star was humbled by receiving an award named for a former rising star that had forged a legacy in the organization. Who knows, someday an award might be christened in her honor and bestowed upon one of her children’s peers. Succession moves in dynamic cycles as the wealth of knowledge is passed on and new leaders are created.

Hand-crafted recruitment and generous employee development feed sustainability. Starting with a clear understanding of mission and culture, talent is chosen with stewardship for the future. Identify a good fit. Assess strengths and opportunities. Invest resources in growth. Push the expectations to empower advancement. Reward performance and thank mistakes. Celebrate learning and pass the torch.

Succession planning is not complex. It takes a leap of faith that surrounding your rising stars with opportunities will eventually pay organizational dividends. Strong leaders give away their leadership. They dare their peers to improve upon the recipe. They populate their vision with brilliance.


Thousands of Lives

Although they impact thousands of lives, you’re unlikely to meet them face to face. Most of their waking hours are spent developing others who become your most trusted partners. Like your physician, minister, and attorney, your financial adviser is selected with care. The relationship is anchored in trust, accountability, talent, and character. Recently, thirty-six of the nation’s top financial advisers gathered in Milwaukee to strengthen their teams. Each leader represented a team of about twenty specialists whose group owns stewardship over the financial stability of thousands of lives.

With the security of this many families at stake, the price of admission to the two-day team effectiveness assessment and training workshop was courage. Along with a quick look at their strengths, team leaders were required to make a close inspection of their vulnerabilities. For some, a culture of collaboration was being undermined by the failure to appreciate the value of different perspectives. For others, the challenge of innovation was being neutralized by the wish to stay comfortable with common ground and the status quo. For still others, recent personnel changes had stymied their ability to refocus on their new circumstances with poise and resilience.

Vulnerability creates opportunity. Insight empowers action. By the end of the workshop, leaders had digested their assessment results and shared each other’s experience and expertise to forge action plans targeting measurable change in performance. Their interventions will happen quietly behind the scenes. The results will unfold in your living room. When your financial adviser sits down to discuss your family’s long term goals, he or she will be coming from a leader who has made a deliberate investment in supporting the mission, values, and development of his or her team.

One workshop. Two days. Thirty-six leaders. Five-hundred-plus financial services professionals. Thousands of lives.