Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here.
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Dear Readers,
This was a big week for my firm. We won the Wealthbriefing WealthTech award for best Training Solution for the third year in a row. We announced our partnership with The Rebellion to offer selective outdoor leadership experiences for those financial professionals seeking to improve their leadership skills.
While both are exciting and support our quest for improvement, they made me consider again how important it is to move away from the idea that we “train” seasoned professionals and toward the idea that we need to create learning environments where people want to gain new skills and deliver them in a method to allow for lasting behavioral changes.
As a college professor and instructional designer, I know this is not as easy as it sounds. This week’s column shares some ideas around the importance of a unique learning environment and gives you some insight for your professionals to improve their skills and reach higher levels of excellence. I credit my partner, Jordi Mullor, at The Rebellion Experience who collaborated with me on these insights:
1. Advisors and financial professionals face the dual challenge of managing their clients' stresses and complexities while navigating their own. This balancing act is crucial, as financial professionals often become confidants in their clients’ most personal and challenging moments. Introducing advisors to unfamiliar scenarios, such as outdoor learning experiences or exercises with incomplete instructions, can significantly stretch their comfort zones. These situations not only encourage advisors to confront and manage their fears but also to grow more adept in handling uncertainty. Designing these learning environments requires careful planning and a willingness to push both the learner and the facilitator towards new boundaries. It's through these carefully structured challenges that breakthroughs emerge, empowering advisors to excel in their roles amidst complexity and pressure.
2. For advisors in today’s rapidly evolving financial landscape, the ability to swiftly adapt is not just beneficial; it’s essential. The relentless pace of advancements, particularly in artificial intelligence and technology, demands a nimbleness that traditional education and certifications may not fully impart. These advancements challenge us to think faster, act smarter, and innovate beyond conventional methods daily. Thus, immersing advisors in environments that sharpen their reflexes, encourage quick, strategic thinking, and foster the creation of unique solutions is crucial. Such experience not only enhances their ability to navigate technological complexities but also instills a mindset of agility and innovative problem-solving that translates directly to their professional practice.
3. Despite decades of evolving business practices, the essence of leadership remains remarkably unchanged. In my teaching experience with courses like managerial skills, leadership lab, and leading teams, a recurring question from students highlights a disconnection: Why is there often a gap between the leadership ideals we discuss and the reality they observe? The urgency for a paradigm shift in leadership is undeniable, especially as the next generation steps forward with fresh expectations and visions. There's no better catalyst for this transformation than the unscripted lessons learned in nature’s classroom. Stepping into the vast, unpredictable outdoors – far removed from the comfort of traditional learning spaces – naturally broadens one's perspective. Such immersive experiences in the natural world not only accelerate skill development but also deepen understanding, offering invaluable insights into adaptive, impactful leadership.
4. True learning demands a willingness to embrace risk and vulnerability. "Going around the campfire" will always bring more candid conversations than "going around the conference room." In the professional world, where tenure and experience often build walls around personal insecurities, admitting fears or uncertainties can seem out of place. Yet, when placed in an environment that not only allows but encourages the expression of genuine thoughts and feelings, individuals are more likely to seize the opportunity to share and, importantly, to listen and learn from the experiences of others. This crucial aspect of creating spaces where such exchanges are the norm rather than the exception is what transforms a standard learning experience into a profound journey of growth and discovery.
5. There is unprecedented urgency to adapt in our rapidly evolving profession. As change accelerates, adopting a proactive stance is essential. Advisors and financial professionals are being called upon to innovate and broaden their perspectives in ways that go beyond traditional thinking. But fostering a mindset of innovation and adaptability in a field traditionally governed by logic, formulas, and consistency requires more than just a directive to "think outside the box." It demands a structured approach that not only demonstrates alternative ways of thinking but also provides tangible experiences that reinforce these capabilities. The challenge lies in equipping individuals, accustomed to a world of clear rules and procedures, with the tools to navigate ambiguity and uncertainty. True transformation occurs not when we tell someone to think differently, but when we guide them through the process, showing them firsthand that they can harness creativity and apply it effectively back in their professional environment.
6. The journey back to the office post-training is a pivotal moment, where the true test of any learning experience lies. Many programs falter in fostering lasting change, not because the content isn't valuable, but because they fail to translate into tangible shifts in behavior and leadership once back in the professional setting. The crux of meaningful transformation isn't found in the isolated moments of learning offsite but in the application of these insights when navigating the daily realities of the workplace. If our educational efforts stop at information delivery, they may engender only temporary or superficial change, risking both the investment in our talent and the potential for genuine improvement.
7. The essence of impactful learning is to provoke, challenge, and inspire new ways of thinking and acting that resonate beyond the classroom. We need experiences that not only pull participants out of their comfort zones but also equip them with the mindset and tools to enact change. In an age where content is abundant – accessible through articles, podcasts, videos, and digital platforms – the need for traditional "training" as we know it has evolved. Today, the focus must shift towards creating dynamic learning environments that encourage critical thinking, foster innovative problem-solving, and facilitate meaningful dialogue. It's about showing that change is not just necessary but achievable, setting the stage for a ripple effect of transformation across teams and leadership styles.
The next time you think, “my leaders need training,” instead think, “my leaders need to experience how to be innovative, creative and to lead in new ways, to expand their comfort zones.” This shift in thinking will change the way you consider what exactly your professionals (and maybe you) need. It’s hard to be pushed, and most people don’t like to leave their comfort zone. But if you are going to stay on the leading edge in a profession that is changing by the day and becoming more competitive and challenging, it is imperative to step out of the safety of your current state and into places you might not have thought about going before!
Beverly Flaxington co-founded The Collaborative, a consulting firm devoted to business building for the financial services industry, in 1995. The firm also founded and manages the Advisors Sales Academy. The firm has won the Wealthbriefing WealthTech award for Best Training Solution for 2022 and 2023 and 2024. Beverly is currently an adjunct professor at Suffolk University teaching undergraduate and graduate students Entrepreneurship and Leading Teams. She is a Certified Professional Behavioral Analyst (CPBA) and Certified Professional Values Analyst (CPVA).
She has spent over 25 years in the investment industry and has been featured in Selling Power Magazine and quoted in hundreds of media outlets, including The Wall Street Journal, MSNBC.com, Investment News and Solutions Magazine for the FPA. She speaks frequently at investment industry conferences and is a speaker for the CFA Institute.
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Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here. 