From OWS Magazine, March 2006 Issue
March 1, 2006 - My executive coaching practice is filled with top advisers who--through their weekly meetings with me--seek to hone their sales skills and become more disciplined in managing their emotional stability. Every once in a while, however, I receive an alarming phone call from a branch manager who has reached his limit in tolerating the antics of a specific top-performing adviser at that location. These branch managers often remark that they don't have the time, patience or rapport with these top dogsto set their inappropriate or eccentric behaviors into proper alignment with the rest of the firm's culture.
Some of the most successful advisers and teams within firms are, by nature, quite demanding. These individuals or groups are quirky and stand out in both good and bad ways. Branch managers usually don't want to take a stance that's too strong and paternalistic with one of their top producers, as they fear the adviser will react immaturely, aggressively or irrationally. So once a branch manager reaches his breaking point with a particular employee, rather than trading the adviser in for a more polite and obedient one, he drops the errant individual on my doorstep and asks me to get him in tune.
One particular situation comes to mind concerning a branch manager and a financial adviser, whom I'll refer to as "Dan." The branch manager's gripe was simple. Dan led one of the most successful teams at his firm, but his administrative assistant, partner and management team were forced to walk on eggshells when he became overwhelmed with stress. He had an explosive temper, was demanding and became intolerant of people who couldn't keep up with his pace. One could easily hear his loud voice down the hall--especially when he was having a bad day.
Dan had learned early on that he could get what he wanted through intimidation and loud barking. At his present firm, no one had talked to him about his problematic behavior because he was making a lot of money for the firm. But when his partner pulled aside the branch manager and talked about leaving because of the relationship he had with Dan, the branch manager had to consider taking action. This came to a head shortly afterward when Dan's administrative assistant handed in her two-weeks notice. Dan's branch manager called me that same day in a state of frustration.
Many branch managers point out that there are positive and negative traits uniformly associated with top producers. As you read on, you'll notice that I've outlined some ways in which your branch manager may be viewing you--so take heed, or you might be sent to me!
The Good News
Top producers are ambitious, disciplined, tenacious, decisive, strong-willed, independent and goal-oriented. They take calculated risks, lead by example and have tunnel vision when it comes to meeting the company's bottom line. These are the attributes that make them so successful and drive them to reach higher plateaus.
The Not-So-Good News
Despite these traits, there are some tradeoffs. Branch managers have described their warriors as being too aggressive, offensive, stubborn, quick to anger, impatient, demanding, territorial, unaware of peoples' emotions, critical and arrogant. Whether these advisers are complaining about not having enough money allocated to their discretionary spending accounts or about a lack of administrative support, they tend to blame their management teams and demand immediate change.
Shaping Your Top Advisers
If you're a branch manager and oversee one of these producers, you're probably seeking a way to have your cake and eat it, too. The reality is that you can never change someone's personality. But you can teach them to understand how it affects others. Making these advisers aware of their deficits, however, must be done delicately. Here are three suggestions:
1) Take a meeting. I've suggested that branch managers set up monthly sit-downs in their offices or over meals with these advisers to maintain a dialogue about the positive aspects of their work. Keep the conversation light and unemotional. Encourage these meetings by stating that you like to have them with only the most important advisers.
2) Disarm them with praise. By initially discussing positive behaviors, you'll prime them, allowing you to introduce constructive feedback about their more destructive behaviors. In essence, you'll be pointing out how impressed you are with their growth and production. You may even tell them that you'd like them to take on more of a leadership role within the firm and mentor someone. Inform them that they'll be in a position of serving as a model for others.
3) Strike while the iron is hot. The key to success is to bring up individuals' offenses as soon as they occur. Advisers will become defensive if you slam them with everything all at once. It's also essential that you explain your disappointment in their behavior and detail how it affects others. The best way to manage these individuals is to be in constant communication with them. Their behavior is mostly aimed at keeping people away from them--so be proactive and keep them talking. You'll notice your office will be less volatile as a result. Now you'll have time to deal with the really important issues on your desk!
Dr. Alden Cass, president/chief consultant of Catalyst Strategies Group, is a New York-based psychologist who specializes in coaching Wall Street brokers and executives. For more info on Cass, e-mail him at acass@catsg.com or visit www.catsg.com.
