What does the Branch Manager of a financial services firm do exactly? While the role may vary from firm to firm, it typically consists of a combination of administrative, supervisory/compliance, recruiting and sales management duties. Overall, a Branch Manager is tasked with fostering the culture and overall success of the branches and advisors under their supervision.
Some professionals that have not yet been exposed to this style of supported independence may be wondering, “How does a Branch Manager’s duties directly impact me as an advisor?” For starters, you need your trades monitored and approved, office space maintained, and support with all relevant systems and technologies; But aside from the essentials, a Branch Manager should play an active role in the growth of your business. Do they offer practice management resources? Do they help with your growth planning and client acquisition goals? Do they offer one-on-one coaching/accountability? Are they your advocates when you run into obstacles? These are all important questions that need to be in the back of your mind when exploring the possibility of a business partnership of this magnitude.
Simply put, a successful Branch Manager must be able to support your ideal work life balance, supporting you as a professional as well as an individual. They will often approach relationships with their advisors the same way advisors build relationships with their clients; fully understanding their goals & aspirations and partnering with them to develop an actionable plan to achieve them. Many advisors prefer to take the “Lone Wolf” approach in hopes to operate their businesses based solely on their own vision, and for some this may in-fact be the most practical approach. However, for many advisors looking to take their businesses to the next level, the resources and support offered by a firm far outweigh the benefits of remaining entirely independent. By developing and implementing a business plan together, Branch Managers will prove to be a valuable partner as you pursue the expansion and refinement of your book of business.
At AP Denver, we believe that your Branch Manager should be your number 1 advocate as you take your business from where it is, to where you want it to be. It is about working together to achieve a shared goal, which is the long-term success of your business. If you are interested in exploring the potential benefits as it pertains to your own business, please don’t be afraid to reach out.