In the world of financial services, what’s your professional’s leadership style?
You've probably heard the saying "lead, follow or get out of the way." When it comes to your financial future however, you may need to follow a financial professional's lead, but you can't afford to get completely out of the way.
A growing number of Americans are discovering the value of applying situational leadership principals to their financial strategies. Noteworthy financial services companies such as World Financial Group, an insurance and financial services provider, are emphasizing leadership skills for their associates, and the benefits of letting each investor's needs, goals and situation determine the collaboration of guidance and planning.
Why the approach works
Analysis of leadership skills often divides the process into leadership "styles." The theory is that each manager has a specific style that he or she will always use. Situational leadership theory, however, holds that a manager should use the leadership style that best suits the specific situation and individuals that he or she is leading.
Doing this allows a leader to tailor his or her approach in ways that will help facilitate optimum performance from members of the team.
Applying it to your financial goals
"Leadership isn't just important, it's everything," says Bryce Petersen, an Executive Vice Chairmen with World Financial Group. The company offers insurance and financial products and services to families and individuals, drawing from a broad array of financial services providers. The breadth of products and services available allows company associates to help clients develop individualized strategies for their financial goals. This adaptability also requires associates to develop flexible leadership skills that cater to each client's personal style and goals.
The benefits of working with a financial professional versed in the principles of situational leadership are many, including:
* Flexibility in tailoring your financial objectives to meet not only your future goals, but your current financial and personal situation.
* A more collaborative approach is to create a financial strategy that encourages you to be an active participant in the campaign to achieve your goals.
* An openness to changing your objectives as markets change and your goals evolve.
* A more team-centric approach is to formulate a financial strategy that acknowledges the importance of a client's active participation in the process.
Finding a situational leader
Google the words "financial professional" and your search will return millions of results. Obviously, there are thousands of professionals working in the financial services field. Finding the right one for your goals can seem daunting, but the Securities and Exchange Commission offers some advice for evaluating financial planners.
We recommend you:
* Know exactly what services you need.
* Know what services the professional offers.
* Understand what services you're paying for.
* Know the cost of services provided.
* Understand how the professional will get paid.
Ask the professional to explain his or her leadership philosophy to you, and discuss the merits of a situational approach. You can also find a financial services provider at www.worldfinancialgroup.com.
World Financial Group, Inc. (WFG) is a financial services marketing company whose affiliates offer life insurance and a broad array of financial products and services. Headquarters: 11315 Johns Creek Parkway, Johns Creek, GA.
