Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here.
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Dear Bev,
Have you seen many advisor firms where using “virtual help” has worked? I have a great person headed out on maternity leave, and she wants to become a contractor after her baby is born. I am a big believer in camaraderie and collaboration in the office. I also don’t believe people work as hard if they are not being watched, so I don’t know how I would manage her contribution to my satisfaction. She has been an important part of our firm and I’d prefer not to lose her. I don’t think that insisting she return is an option. Her mind seems to be made up.
Julie S.
Dear Julie,
The short answer to your question is yes, I have seen times where the at-home or virtual role works fine for an advisory firm. However, the bigger question to be asked is whether you could be comfortable enough with the idea to be open to making it work. A few questions to ask:
- Is allowing her to work from home going to disrupt any day-to-day responsibilities she may have? Are there things that have to be done in the office (such as meeting with clients)?
- Is she willing to come into the office when you require or ask her to? Would you both be able to set parameters for these visits?
- Is the role very clear with accountabilities and timelines? Will she know what she needs to do and when she needs to do it so you can measure what’s being done and what isn’t?
- Would the two of you benefit from a once per week check-in and be able to stay in contact so you know and are comfortable with what she is doing?
- Do your systems allow for virtual work? Are there compliance or other issues to consider?
- Are there others in your office who might be able to step in and help from an “in-person” perspective?
If you are able to answer these questions satisfactorily (to you) and as a follow-up, both you and she can set some guidelines for how the situation could work, it might be worth a try. Some of my clients have people working from home who report they are much more productive than when in the office. Of course there are upsides and downsides, as with anything. It’s really whether this is right for you and your firm.
Dear Bev,
I have an advisor who is boisterous and pushy. My administrative team does everything to avoid him. I know he doesn’t mean to be so aggressive, but no matter what I say to him, he laughs it off and makes it out like I am the problem. Any ideas?
S.P.
Dear S.P.,
You have stumbled upon one of the most difficult issues I face as a coach and trainer: the need for people to “own” their behavior in order to do anything to change it. Many people don’t see the impact they have, or they are unwilling to admit that they may have a problem. This is why all change programs insist that you stand up in front of the room and say, “I have a problem.”
However, if you read my column regularly, you know I would never say there is nothing you can try. Just realize that in some cases you can do everything “right” to get someone to see something about themselves and they just don’t want to, can’t or won’t see it.
If you think you might have it in you to try a couple of other options, you could:
- Do a “survey” of the admin group – not to get gossip or fuel the negative fires, but to collect some themes. Are there specific behaviors or reactions that are common in response to his style? Sometimes if you can gather more data and be objective about the impact, a person will listen.
- Instead of talking at him, start questioning him. “I noticed you were very loud with the staff over that issue, is there anything I can do to help?” Instead of trying to point out how rude his behavior was, seek to understand. It could be that if you ask questions then he starts thinking more about it.
- Use an example from your own situation, “I know that sometimes when I am really stressed, I get very quiet. I notice that you get loud. Both seem to be problems for the staff. Let’s agree to work on this together.” Perhaps you could offer a buddy system to show that you are not just criticizing him, but also willing to work on yourself. Remember that we all have something we could do better.
I have written extensively on understanding others, please check out my book on Amazon on the topic to get more insights.
Good luck!
Beverly Flaxington co-founded The Collaborative, a consulting firm devoted to business building for the financial services industry in 1995. In 2008, she co-founded Advisors Trusted Advisor to offer dedicated practice management resources to advisors, planners and wealth managers. She is currently an adjunct professor at Suffolk University teaching undergraduate students Leadership & Social Responsibility. Beverly is a Certified Professional Behavioral Analyst (CPBA) and Certified Professional Values Analyst (CPVA).
She has spent over 25 years in the investment industry and has been featured in Selling Power Magazine and quoted in hundreds of media outlets, including the Wall Street Journal, MSNBC.com, Investment News and Solutions Magazine for the FPA. She speaks frequently at investment industry conferences and is a speaker for the CFA Institute.
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Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here. 
