PROBLEM: Over the past several years, financial service companies have worked diligently to help their advisors form teams. The problem is that many of these teams never get to enjoy the synergy they sought to achieve when they were formed. Partnerships often break up because one or more partners feel like they are pulling more than their fair share of the work load. To complicate matters, advisors tend to be highly independent. They usually thrive when they are in control. In other words, the very characteristics that make advisors successful often make it challenging for them to become effective team members and team leaders…

SOLUTION: Keep in mind that you can only achieve synergy if you partner up with advisors who possess complementary (different) behavioral traits to yours. Furthermore, if you merge two dysfunctional businesses, you will end up with a business that is even more dysfunctional than the sum of its parts! That’s why we highly recommend that advisors implement our Business Optimization Process (OYB) before forming teams.