Ep 113: How to Build a Team That Grows With Your Firm

Episode 113: How to Build a Team That Grows With Your Firm
Guest: Jill Barnett

Overview

Welcome to the Financial Advisors Want to Know Podcast! I’m Catherine Tindall, CPA with Dominion Enterprise Services, where we help financial advisors navigate income tax planning and compliance for their firms.

In this episode, I sit down with Jill Barnett, founder and principal of Valley Consulting Partners and co-founder of The Vested Network, to discuss the people side of building and growing a financial advisory practice.

As an advisory firm grows, the challenges often shift from acquiring and serving clients to hiring, delegating, developing, compensating, and retaining the right people. Jill shares what advisors should consider when making their first hire, how to distinguish between W-2 employees and 1099 contractors, and how to determine which responsibilities should be delegated. We also explore the importance of team structure, employee development, and involving key employees in succession planning to build a firm that can thrive for the long term.

Key Takeaways:

✅ Your First Hire Is a Major Transition
Moving from doing everything yourself to delegating effectively requires clarity around the responsibilities you need to hand off and the type of person who can successfully take them on.

✅ Structure Becomes More Important as Your Team Grows
Consistent meetings, clear workflows, and visibility into responsibilities can reduce the need for micromanagement while keeping everyone aligned.

✅ Employee Development Goes Beyond Task Management
As firms grow, leaders need to make room for conversations about career paths, mentorship, compensation, benefits, and opportunities for professional growth.

✅ Include Your Team in Succession Planning
Employees often hold valuable client relationships and institutional knowledge. Involving key team members in succession planning can improve continuity and help retain talent through a transition.

✅ Start Succession Conversations Early
Firm owners can begin discussing potential succession paths before every detail is finalized. Clear communication helps set expectations while keeping effort, opportunity, and reward aligned throughout a multi-year transition.

🔗 Connect with Jill

LinkedIn: https://www.linkedin.com/in/jill-barnett04mt/?isSelfProfile=false

Website: https://valleyconsultingpartners.com/

🔗 Connect with Catherine

LinkedIn: https://www.linkedin.com/in/ctindallcpa/

Newsletter: https://dominion-enterprise-services.kit.com/9944b047d9

Email: admin@dominiones.com

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