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The Essential Ingredient to Success: The Team Communication Plan

Engaged team members need to know how they influence the success of the business.

~ Sarah Dale and Krista Sheets

Please enjoy our blog post from the Journal of Financial Planning – The Essential Ingredient to Success: The Team Communication Plan. We are honored to be selected as thought leaders in Team Development for the new Financial Planning Association Coaches Corner. The FPA Coaches Corner, a one-stop shop for content, tools, and insights from some of the most recognized business coaches in the profession, will provide association members with a vast library of business-building content in core practice management areas. We continue our commitment to help more financial professionals reap the rewards of ROP…Return on People. It is your people who make or break the success of your business.

    The Essential Ingredient to Success: The Team Communication Plan

    In our Know Service book, we show how to create a client communication plan that leads to loyal clients. Clients expect constant communication from their financial professional to make sure that they are on track with meeting their goals and that you are doing your job. Teams are no different. Whether your team is made up of two or ten individuals, a team communication plan engages staff and is vital to the success of your business. As the leader of the business, you must articulate the vision for the enterprise, keep team members focused on the right results and solicit their feedback and suggestions for improvement.

    Team Communication Plan: The Why?

    Consistent, ongoing and intentional team communication provides many benefits, including the following:

    • It ensures that all team members are on the same page and understand the current state of the business in regard to its goals.
    • It provides an opportunity for the professionals and staff to share the client relationship responsibilities.
    • It minimizes the frustrations and disconnected feelings that individuals may have, and it strengthens the cohesiveness of the team.
    • It gives all team members the knowledge and comfort level to exchange ideas, challenges and solutions.
    • It ensures that you build regular review or evaluation time into your team’s business plan.
    • It helps your business plan become an action-based document that includes everyone’s participation rather than being a dust-gatherer.
    • It helps uncover challenges before they become major problems that can weigh the business down.
    • It increases everyone’s accountability and reminds you of how important it is to reward yourselves and celebrate successes when you reach certain benchmarks.
    • It helps you know when the team needs to make changes.
    • It helps you stick to a disciplined approach, but allows for flexibility and adaptations when needed.


    When team communication begins to fall apart, many challenges ensue. Efficiencies decrease and errors increase, which can lead to a stressful environment where team members are disengaged.

    Team communication is the foundation for the success of your overall goals. So, ask yourself, do you have and consistently execute a team communication plan? Below we provide some ideas to help you personalize a team communication plan for your business.

Please visit https://practicemanagementblog.onefpa.org/2018/04/24/5313/ to read the rest of the post.

If you have any comments or suggestions on how we can better assist you and your practice, please know that we welcome your input. If you are looking for assistance on a specific project, please feel free to contact us so that we can craft the best solution for you using our own expertise or that of our strategic partners.

Warmest regards,
Krista & Sarah

© Copyright 2018. Know No Bounds, LLC & Paragon Resources, Inc., Atlanta, GA

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The Essential Ingredient to Success: The Team Communication Plan

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