To Hire or Not to Hire? Considerations in Hiring a Business Coach or Additional Staff

A decision that many advisors face when they hit a plateau in their practice is whether or not to hire a coach to help them grow their business or to hire additional staff/team members to help them get there. Even for top producers who have already overcome the proverbial plateau in their business, deciding to hire or not to hire additional staff or a coach to help systematize their business is a very important crossroads. Helping clients with investing and planning for retirement and their financial goals are truly second nature for most financial advisors, or they wouldn’t have become advisors in the first place. However, when it comes to actually running a dynamic practice and all the day-to-day demands of a business, many advisors can find themselves way outside of their comfort zones and in over their heads. If you feel this way, you are certainly not alone. Advisors may have a difficult time managing their time efficiently and effectively. They may at times sabotage their own success without even knowing it. Financial advisors may spend weeks, months and even years struggling to prioritize which tasks and activities drive the biggest results in their business. So, for many advisors, hiring a business coach is possibly the best investment they can make.