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E86 – The Most Crucial Decision for Financial Advisors

Season #16

In this episode of "From Busy to Rich," host Andy and guest Wes delve into the crucial decision of when financial advisors should hire their first employee. They discuss the benefits of hiring for profitability and improved quality of life for both advisors and clients. Wes shares his own struggles as a solo practitioner and the importance of recognizing when to delegate tasks. The duo addresses the fears surrounding hiring, advising listeners to view it as an investment rather than a cost. They stress the need for a clear job description, the courage to embrace change, and the importance of aligning hires with the business vision.

CLICK HERE TO WATCH THE VIDEO VERSION.

In today’s episode we will cover:

  • Pivotal moment for financial advisors to make their first hire
  • Recognizing signs indicating the need to stop handling all tasks alone
  • Hiring the right person to support the business
  • Avoiding non-advisory tasks that do not add value to the organization
  • Shifting mindset from viewing hiring as a cost to seeing it as an investment
  • Emotional and practical aspects of hiring the first employee
  • Creating clear job description and expectations for the new hire

 We hope you enjoy this episode, and would love to hear your feedback by leaving a review. If you’re an advisor and want to further explore these or other topics you can learn more at www.wesyounglive.com. Perhaps you’ve been following us for a while, and you’re ready to transform your practice. If so then we would love to have you at our upcoming Transform University class - click here for information on how to sign up. Click here to download the TTT tool.