Creating a Synergy of Specialists
From Chapter 8 of Allied for Success: The Best Possible Outcome
“The harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly; it is dearness only that gives everything its value. I love the man that can smile in trouble, that can gather strength from distress and grow brave by reflection. 'Tis the business of little minds to shrink; but he whose heart is firm, and whose conscience approves his conduct, will pursue his principles unto death.”
—Thomas Paine, American revolutionary, radical, author of Common Sense
One of my favorite films is the 10-part HBO series, Band of Brothers, which depicts the heroism of the officers and men of Easy Company of the 506th Parachute Infantry Regiment in the 101st Airborne from D-Day through the end of World War II. The series, based on the book by Stephen Ambrose, tells the story of these men as they fought in some of the most difficult struggles of the war: D-Day, the breakout from the beachhead, Operation Market Garden in Holland, and the encirclement at Bastogne in the Battleof the Bulge. The central character in the drama is Dick Winters who drops into occupied Normandy as a lieutenant and ends the war as a major. Winters is one of the most amazing leaders I’ve ever seen. His courage and skill in handling men is unsurpassed, but the moments in the drama that touch me most deeply are the recollections by the actual men of Easy Company at the beginning of each segment. Time after time, and often with a tear in their eyes, these men tell of their commitment to one another. The reason they fought and their friends died, they recounted, wasn’t for some abstract concept of freedom. They risked their lives day after day for the guy in the foxhole with them. Their commitment to each other—strangers who became best friends—is the real story of this band of brothers.
The alliance we’re recommending for CFPs® and allied professionals isn’t a life-and-death struggle like infantry combat in World War II, but it’s very important. The work that we can do together can have a profound impact on every “soldier” in our ranks, from the leader to the specialists to the clients and to generations to come. The men of Easy Company had to dodge bullets, take cover from artillery, and endure seemingly endless days of cold, hunger, and danger. To a man, they said they couldn’t have done it without the rock-solid relationships they built with each other. That bond got them through each day, and eventually, through the war. In a similar way, but with far less intensity and risk, the bond alliance members form with each other gives confidence, support, and direction for all we do. Together, we can accomplish far more than we could accomplish separately.
Alliances take some work to set up, and they require time and effort to keep energized and directed, but at the end of the day, they produce the best possible outcomes for everyone involved. In fact, alliances have the potential to change the culture of financial services, at least on a local level.
New Norms
In recent years, deregulation has allowed many more institutions to sell securities, but most of the employees of these companies are only trained in the most basic knowledge and skills related to selling these products. As we saw in the first chapter of this book, wealth is increasing, but relatively few people engage in genuine financial planning. Many customers, like the financial services industry, are fragmented in their approach, utilizing services from different providers but without a unifying plan or purpose.
Your alliance can create a new environment in your community that can accomplish very positive results. Let me outline a few new norms that can take hold.
Financial planning will become a norm for far more people.
When CFPs® equip financial professionals to grasp the importance of helping clients have a driving purpose for their lives and finances, they will work to produce a cohesive, powerful financial plan for each one. In fact, through these alliances, financial planning can become the norm for people up and down the economic ladder. Alliance partners will direct their wealthiest clients to CFPs® for in-depth planning assistance, and allied professionals will assist the full range of clients by implementing plans that fit their needs and goals.
Collaboration among specialists will become a norm.
Today, everybody is receiving a modicum of assistance from multiple providers in the fragmented world of financial services. The barriers of suspicion, competition, and inertia keep specialists locked into their own worlds, focused on selling instead of serving their clients more fully. An alliance may begin with months of barrier breaking, with conversations to clear the air and understand each other. Gradually, trust is built and referrals begin to flow. As clients give positive feedback, they refer their friends, and the snowball of effectiveness and growth rolls on. In a local setting where a group of specialists is led by a CFP® to create genuine synergy, collaboration takes on a life of its own—the team really works!—and effective networking becomes the norm. This kind of trust and new habits of behavior take time to develop, but they can happen. Many alliances around the country work that way.
The focus on clients’ purpose becomes the norm.
Today, CFPs® focus on their clients’ purpose, but most allied professionals dedicate their days to selling products. That’s not an indictment. They simply haven’t been trained to do anything else. But under the guidance of a leader who imparts vision, motivation, and skills, every allied professional in the alliance (and their staff) can learn the process of tapping into their clients’ purpose in life as the driving force for a clear, comprehensive, powerful financial plan.
Do you understand what these new norms could mean for our clients, our businesses, and our fulfillment? I can tell you: It will make all the difference in the world.
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What Matters Most: Coach-Training for Insurance and Financial Advisors.
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Make Your Money Count
Connecting your resources to what matters most
“Make Your Money Count stands out from other guides on money management because it drives home an important truth: Clarifying your purpose in life is the essential element in financial planning. The book offers an excellent blueprint for success and provides easy-to-follow steps that will align your money with your best intentions and put your finances in divine order.”
— Ken Blanchard, co-author of The One Minute
Manager® and Leading at a Higher Level
“As trusted advisors, we recognize that motivation is the key to change. In Make Your Money Count, Jim Munchbach provides powerful motivations to connect our finances with our purpose in life. This, I know, makes all the difference in the world. I enthusiastically recommend Jim’s book”
— Ron Blue, Kingdom Advisors
About Jim Munchbach, Your Workshop Leader
Jim has seen the power of purpose in shaping people’s vision for the future, motivating them to reach their goals, and giving them a thrill when they connect their money to what matters most. Before learning these principles, Jim was a very successful sales professional, but something was missing. Trusted mentors helped him see the tremendous benefits of financial life planning – benefits for clients, and for us as Financial Advisors. As our clients’ guide in the complex world of financial planning, we have a unique opportunity – not just to sell “stuff” – but also to impart purpose, value, and wisdom as we serve clients each day.
Linda Miller, Master Certified Coach
Also leading your workshop is Linda Miller who serves as Global Liaison for Coaching with The Ken Blanchard Companies. As an executive coach and trainer, Linda has a passion for people taking effective, intentional action. Since 1995, she has helped thousands of professionals build productive and collaborative relationships with colleagues and clients. Linda is co-author of Coaching Essentials for Leaders, a coach training program that encourages leaders to use coaching skills to create strong business alliances. Her second book on coaching, Coaching in Organizations: Best Coaching Practices from The Ken Blanchard Companies, will be released in April 2008.
About the Ken Blanchard Companies
Experts tell us that nearly 80 million Baby Boomers will retire in the next 10 years. In the United States alone, almost 14 trillion dollars of wealth will be invested, managed, and transferred to our children. That’s a lot of opportunity and responsibility. At The Ken Blanchard Companies, we think it’s absolutely essential for Financial Advisors to provide holistic, thoughtful, goal-oriented strategies, products and recommendations. Our training equips you to do just that. Click here for more information about the Ken Blanchard Companies.