How to Get Value from What You Spend on Training

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 Readers –

My firm was recently honored to receive the WealthTech award for best training solution provider. It is always humbling to be recognized for a lifelong passion. In today’s column, I’ll share some of the insights we have gained over the years in hopes you can apply these to your own financial firm, be it large or small.

1. As an animal lover with five dogs of my own and another 800 that I’ve fostered over the last 12+ years, I know that training (dogs) is important. Without training they don’t make the best family members! However, while training dogs is useful in the right way (i.e. positive reinforcement and patience), I can’t “train” people in the same way. If someone isn’t willing to listen and understand, you can deliver the best information and it won’t make a difference. Rather, to bring about behavior change, create an environment where they can learn. Show them the benefit of understanding and applying new concepts; illustrate how what they are learning connects to their life, their culture and their needs. Switch the thinking from pure training, to creating a learning environment. It is an important reframe.