Welcome everyone! Welcome to the 464th episode of the Financial Advisor Success Podcast!
My guest on today’s podcast is Katie Calagui. Katie is the owner of Katie Calagui Consulting, a coaching and consulting firm that works with financial planning firm executives and leadership teams.
What’s unique about Katie, though, is how she supports firms in building out their talent development capabilities to boost employee retention, create a pipeline of next-generation advisors, and, ultimately, facilitate stronger and more sustainable growth.
In this episode, we talk in-depth about why Katie thinks that firms can benefit from investing in a people development role that spends their time focusing on firm culture and training (rather than operational HR issues), how Katie finds that the best places to work are where employees feel like they’re part of a family (being valued and seen in their organizations) while those that struggle tend to have controlling leaders and are where employees aren’t trusted to take on higher-level work, and Katie’s key metrics for determining whether a firm’s people development strategies are successful (including promotion and retention rates as well as growth in advisors’ total client headcount and average client size).
We also talk about why Katie thinks that maintaining a strong talent pipeline is as important as ever for firms (even as artificial-intelligence-powered software tools become increasingly capable at handling tasks, such as notetaking, commonly performed by newer employees), how Katie believes that improved AI support could actually allow firms to accelerate their talent development (for example, by giving emerging advisors more time to think critically about client conversations they join and how they might approach them themselves), and how Katie finds that firms benefit when getting newer advisors involved in business development (in supporting senior advisors in keeping the process organized and in starting to build out their own networks).
And be certain to listen to the end, where Katie shares that while many advisory firm leaders think their talent issues are unique, that many share the same problems (often around areas such as expectations and a lack of clarity), how Katie counsels early-career advisors to play the “long game” and build their skills and relationships to set themselves up to thrive in what could be a multi-decade career, and why Katie thinks the best coaches are those who are able to draw out the wisdom firm leaders already have (and then help these clients gain the courage to apply it).
So, whether you’re interested in learning about leveraging a people development leader to build firm culture, the value of maintaining a strong talent pipeline amidst advances in AI technology, or how to get the most out of a coaching relationship, then we hope you enjoy this episode of the Financial Advisor Success Podcast, with Katie Calagui.
