Teaming is more than a buzzword

For years, our industry has thought about teaming like a one-time event, rather than an intentional, sustained approach to growing a practice. That’s changing. Leading advisory firms view teaming not just as a staffing model, but as a core lever for scalability and sustainability.

We don’t have to look far for inspiration. In other professional-services industries, like accounting and law, the team-based model has been the norm for decades. It’s time for us to think along the same lines.

Our industry is undergoing transformation on multiple fronts. Clients are more informed, have more options and expect more from their advisory relationships. Meanwhile, advisors face rising costs, increasing regulatory pressure, evolving client expectations and competition from fintech disruptors.

What hasn’t changed is the importance of trust. Clients still want to lean on a trusted advisor. It is human nature to seek out different perspectives and trusted advice when faced with important decisions, but the demands on financial advisors have grown significantly. Those who haven’t found a way to invest in the necessary resources need to consider a realignment of their service model.

Case study: The modern model

Operating solo with a full-time administrative assistant, John had grown a book of approximately $30 million in assets under management in five years. He was wealth-focused, offering active asset management, and providing financial planning services to top clients who asked for it.

Early in John’s career, informal case-by-case partnerships were common. He was affiliated with a national firm but running a solo practice, leaning on their infrastructure and resources for support.

Despite this early momentum, John had hit a plateau. The initial support model (real estate, technology stack, product expertise) helped him survive the early years, but he was struggling with time constraints, increasing client complexity and higher service expectations.

 “My growth year over year is steady,” he said. “But the challenges I face now feel more intimidating than they did early on in my career.”

John had outgrown his operating model. The question was no longer about effort, it was about structure. His client-service process hadn’t evolved at the same pace as the practice.

John needed to make two changes:

1. A more capable back office. One that could handle complex transactions and compliance with greater efficiency.
2. A planning-first mindset. Financial planning needed to become central to client engagement, not a reactive offering.

John recognized that he lacked both the time and financial capacity to build this infrastructure independently. After careful due diligence, he aligned with a team that offered a strong operational foundation, a dedicated Certified Financial Planner leading the planning process and a shared philosophy regarding client service and growth.

Joining that team meant adjusting to new systems and processes, but it also opened new growth pathways. John is thriving as a result. With a more scalable platform, stronger planning support and mentorship in place, his business is accelerating. Future opportunities, including potential equity in the broader firm, are now within reach.

Take-aways for advisors

• Culture fit is important, but it’s not the only factor. It’s crucial to feel comfortable with the team, but it shouldn’t be the sole basis for your decision.
• Assess how your unique traits align with the team. Reflect on your skills, work style and business model. Do they complement or clash with the team you’re thinking about joining?
• Look for alignment in key areas. Do you share similar beliefs about client service, growth and ethics? Is there a shared approach to prospecting, client meetings and follow-up? Are service expectations and client relationship management practices in sync?
• Think long-term. Initial fit might feel right, but sustained success depends on deeper compatibility in how you operate.

Take-aways for firm leaders

• Focus on long-term integration. Alignment in how business is conducted helps drive higher retention, greater productivity and more harmonious team growth.
• Culture is critical, but don’t stop there. A good cultural match sets the tone, but operational compatibility ensures lasting success.
• Be introspective before you hire. Understand your firm’s values, go-to-market approach and client-service model. Use this as a lens to evaluate new advisors.
• Look for philosophical and practical alignment. Are the advisor’s values in line with yours? Will their business style integrate smoothly with your team?