One way to prevent your team members from “jumping ship” to another financial advisory office is to inspire their confidence in your practice. This confidence will grow when they understand your long-term plans for the practice and how they can play a part in seeing those goals through.

People want to know they’re making a difference in their workplace, says Larry Distillio, director of financial advisor business management with Mackenzie Financial Corp. in Toronto.

Distillio shares three ways to keep the team involved in your business:

> Inspire team members with your vision
A leader who looks forward and wants to be innovative in growing his or her practice, Distillio says, gets people excited about being on a team.

So, be clear about the way you express your vision, your mission and your value proposition. Your team members want to understand their roles in ensuring that your business goals are met, which will reinforce their commitment to your practice.

So, if you’re planning to add insurance services to your financial planning practice, explain why that step is important to you and start brainstorming how various individuals can be involved. For example, you might ask your associate to help you survey clients regarding their insurance concerns while your assistant researches product providers.

Your team becomes clear on where you are going and appreciates that you’re including them on this initiative.

> Offer to help team members
Start the day with a 10-minute huddle in which you ask everyone: “What can I do to help you accomplish your tasks today?”

Your job as leader is to provide what the team requires, so business objectives are met, Distillio says.

A team member might remember that she wanted to talk to you about a difficult conversation she had with a client; another team member might require your help in becoming more comfortable with the office’s new computer system.

This type of activity helps team members feel their voices are being heard. It has the added benefit of allowing you to schedule these interactions at a convenient time, instead of staff members having to interrupt you with their concerns.

> Make use of their skills
Always ask team members for their input regarding any new processes or ideas you have. It is another way to involve others in decisions that will affect the practice, and you can take advantage of their knowledge in areas you might know less about.

For example, if you are considering a new client-relationship management system, it is beneficial to talk to the team members who will be using it most. Find out what is on their wish list regarding new technology that would make their jobs easier.

This is the first part in a two-part series on building team loyalty.

Next: Developing relationships with your staff.