Financial Advisors Want to Know Podcast: How to Build a Team That Grows With Your Firm | Ep. 113 Jill Barnett

In this episode of Financial Advisors Want to Know, we sit down with Jill Barnett, founder and principal of Valley Consulting Partners and co-founder of The Vested Network, to discuss the people side of building and growing a financial advisory practice.

As an advisory firm grows, the challenges often shift from acquiring and serving clients to hiring, delegating, developing, compensating, and retaining the right people. Jill shares what advisors should consider when making their first hire, including the important distinction between W-2 employees and 1099 contractors, identifying which responsibilities to delegate, and finding people who will represent the firm well with clients.

Key Takeaways

Your first hire is a major transition. Moving from doing everything yourself to delegating requires clarity around the tasks, responsibilities, and type of person you actually need.

Structure becomes more important as your team grows. Consistent meetings, clear workflows, and greater visibility can reduce micromanagement and keep everyone moving in the same direction.

Employee development matters just as much as task management. As firms grow, leaders need to spend more time discussing career paths, mentorship, compensation, benefits, and opportunities for growth.

Succession planning should include your employees. Your team often holds important client relationships, and involving key people in the transition can help preserve continuity and retain talent.

Start succession conversations before everything is finalized. Firm owners can begin communicating with potential successors without guaranteeing an outcome, while making sure effort and reward remain aligned throughout a multi-year transition.

Whether you’re making your first hire, managing a growing advisory team, or beginning to think about succession, this episode offers practical ideas for building the people and processes that can support your firm for the long term.

Connect with Jill:
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Jill's website:
https://valleyconsultingpartners.com/

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