How to Nurture Time Management and Communication Skills

Dear L.E.,

First, it is important to note that I hear this all the time from advisors. And yes, their jobs can be demanding. When markets don’t cooperate, or it is tax time, or client’s lives are changing, there is a lot to do, and it is demanding.

That said, like anything in life, if you want to find time for something, you can. Many advisors don’t find time for prospecting and growth, because it isn’t what they want to do. They aren’t comfortable with it, and all humans will revert to what they are most comfortable with before they will take on something new or something for which they have less aptitude.

When I hear the issue is “time,” however, I don’t immediately push back. Some people are able to learn and adapt quickly, while others take a lot of time to figure out a process and plan that fits their style. That said, there are a few things you can do to uncover what’s really getting in the way:

1. Ask your advisors to do a time tracking sheet for two weeks. This is often annoying to people in the beginning — it’s another thing to do. However, in all cases, I have found it to be eye-opening to someone to figure out where their time goes. You can either validate or dismiss their issues about time once you find out exactly where it is going. Perhaps the infrastructure you have isn’t as robust as you think, and they are doing more follow-up for clients. Conversely, perhaps they aren’t leveraging the team around them enough.
   
   This is a great way to have an objective discussion about time. We did this for an advisor team on the west coast and found they were spending an inordinate amount of time with emails. We were able to implement a new approach to sending and reviewing emails to cut down on time spent in this area. It’s a good practice for everyone a couple of times a year, but in your case, it is absolutely necessary.
2. Ask about obstacles. What specifically is getting in the way and causing them to lose time that needs to be spent on growth? Do they not know what to do? Do they lack the skills necessary? Have they tried something, seen it fail and become hesitant to try again? Do they need to calendar differently? Be open and ask what’s holding them back. We choose where to spend our time, even when we are busy, so something is preventing them from choosing growth-related activities.
3. Be sure they are calendaring and color coding to allocate the time necessary for growth activities. Also help them with chunking. This is where instead of putting “Contact COIs” on their calendar, they might put several steps over time: “Locate two COIs to contact”, “write an intro email to these COIs”, “Follow up with a phone call.”
   
   These would all be done over several days in 15–30-minute increments so as not to be overwhelming. You might have to give guidance on good time management to get things done.

Dear Bev,

We are trying to hire a junior FA to work with one of our senior leaders. In today’s market it’s a bit hard to be too choosy. We have had a number of candidates come through who don’t possess great writing and speaking skills. We have everyone do a mock presentation and then follow up with an email as if they were writing to a client. Some of what we’ve seen is frankly shocking. These are young people who have obtained or are working on their CFP® in some cases. The speaking includes too many “ums” and “ahs,” and the writing is often hard to understand. One of my pet peeves is “I wanted to thank you…” If you wanted to, then just do it!

Is this a failing of this newer generation? Do we have to learn to live with it and edit everything they write, while having them speak as little as possible in meetings?

P.L.

Dear P.L.,

I’m not sure if the end of your note is in jest or if you are seriously considering hiring someone only to limit what you allow them to do. You may recall I am a college professor, so I read a lot of written pieces and watch dozens of presentations every semester. The answer is “no.” This is not a failing of this generation. I read great, well-thought-out pieces, and I see great presentations. There are many individuals, however, who have never learned how to communicate effectively, and they need coaching and guidance to do so. There are also people who get nervous speaking in front of others so the “ums” and “ahs” help as fillers. Usually, they don’t even realize they are doing it.

You have two main options in my opinion:

1. If all else is great with a candidate, give them the unvarnished feedback from their writing and their presentations. Let them know you want to hire them, but their communication skills are sorely lacking. Ask them to come up with a plan, in advance of bringing them on board to show how they are going to improve in communication. Ascertain whether they (a) care about the feedback and (b) have ideas about what to do about it. You could really help and guide them before they join, and then hold them accountable once they come on board.
2. Continue to look for someone who does possess excellent communication skills. If you are using a recruiter, have them test for this before the candidate even enters your queue. Communication skills are rarely hidden. They come out pretty early in any interactive process, so put pressure on your recruiters to help screen candidates for this.

Beverly Flaxington co-founded The Collaborative, a consulting firm devoted to business building for the financial services industry, in 1995. The firm also founded and manages the Advisors Sales Academy. The firm has won the Wealthbriefing WealthTech award for Best Training Solution for 2022, 2023, 2024, 2025 and 2026. Beverly is currently an adjunct professor at Suffolk University teaching Executive MBA students Leadership and Managing Teams. She is a Certified Professional Behavioral Analyst (CPBA) and Certified Professional Values Analyst (CPVA).

She has spent over 25 years in the investment industry and has been featured in Selling Power Magazine and quoted in hundreds of media outlets, including The Wall Street Journal, MSNBC.com, Investment News and Solutions Magazine for the FPA. She speaks frequently at investment industry conferences and is a speaker for the CFA Institute.

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