AB Advisor Institute Podcast

Why Teams Need More Goals

04 September 2023
22 min listen

Summary

Too often, advisors see business planning as a waste of time, preferring instead to meet with clients or to network for new business. Additionally, they don’t understand how setting goals can support and encourage high performance among team members. This oversight can lead to inefficiencies and make it difficult for new team members to master their craft and contribute to overall performance.

Scott and Ken look at the various types of goals that advisors typically use to manage their teams, introduce several new ways to think about goal setting, and explain different types of goals that advisors do not use often but that can revolutionize the team’s performance. The conversation shows how destination goals, which most advisors prefer, provide very little useful information while performance goals provide multiple ways to meaningfully manage an advisory team’s performance.

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams.

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