1. Creating Customized Career Tracks Dave Grant, CFP® Founder, Fee Only Consulting

2. Who am I? Certified Financial Planner TM certificant Over six years of experience in the Fee-Only profession Run RIA “Finance for Teachers” and consulting firm “Fee Only Consulting” Financial Planning magazine : Columnist and blogger Founded NAPFA Genesis: a group of 150 NAFPA members under 33

3. The usual process

4. Job 1 – Wait 3 years to advance

5. Job 2 – Same track as everyone else

6. What is the problem? Advisors have diverse educational backgrounds “How can I train a compliance officer?” Succession plans are limited without knowledge of staff Do you know the top talents of each of your team members?

7. What is happening now? (1) Development plans don’t exist “Accidental development” Skills development in areas of non-interest

8. What is happening now? (2) Isolated development, no team-element Company-focused development Another scenario: “Reactive” Development Leads to: - Frustration - Ill-equipped and under-trained staff - Skills at odds with firm needs

9. What is the solution? Defined company vision Custom tracks for all staff (3-5 years) Tracks should incorporate company and individual goals Through discovery, tracks should be designed to compliment current skills and strengths

10. What difference will a career track make? Manager: What if I put a lot of time, effort and money into developing my team and they leave? Coach: What happens if you don’t and they stay? Supported strategic plans Increased morale Increased staff retention Detailed and specific succession plans

11. How do I make a career track? Understand your team member Understand your strategic plan Outline which skills need developing Provide resources for assistance Split the track into various sub-sections: Basic work habits; Relationships with colleagues; Relationships with clients; Business development; Technical knowledge, etc.

12. I don’t want to make my own, what now? Fee Only Consulting provides three options: - Pre-made plan - Basic plan - Retainer relationship www.feeonlyconsulting.com 30% off

13. Keep in touch Website: www.feeonlyconsulting.com Email: dave@feeonlyconsulting.com Phone: 224-357-8625 Writing (Print): Financial Planning magazine (column every other month) Writing (Online): Financial Planning magazine (various posts per month)