Performance coaching tips.

AuthorOechsli, Matt
PositionQ&A

Matt Oechsli is the author of "FastTrack Coaching for Building a 21st Century Financial Practice (Total Achievement Publishing, 2002). He is president of The Oechsli Institute, a consulting firm that provides programs, training, and coaching for financial professionals seeking to attract, service and retain affluent clients.

Q: Why is performance coaching a vital skill for today's branch manager?

A: Everyone is targeting affluent investors, but few are equipped to go from selling stock transactions on commission to providing the full, range of fee-based financial solutions that high net-worth clients demand. The key to gaining a competitive edge in this fast changing industry is a branch manager who can effectively coach financial professionals through this transition.

Q: Is there a difference between coaching and managing?

A: There are several differences. Managers direct and control actions; a coach empowers others to take action. Managers provide answers; a coach asks questions and suggests options. Managers establish deadlines; a coach requires target dates and then clears the path. Managers monitor current policies and procedures; a coach encourages and facilitates change.

Q. What is the key to successful coaching?

A: There is no simple answer to that question. A successful coach knows what initiating a successful coaching relationship requires and how to use FastTrack Action Agreements to keep everything focused. Skilled coaches also understand both the psychology of individual performance and the dynamics of coaching teams. However, there is one key concept that is at the heart of...

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