What Makes A Team Extraordinary?
At Janus Henderson LabsTM through our Elements of Extraordinary Teamwork program, we are fanatical about what elements make a team extraordinary and helping our clients’ teams continue to grow even after top status is reached.
We analyzed 2,800 practices to learn even more about what key elements elevate an advisory team from ordinary to top-performing.
This study of high-performing teams was conducted by Cerulli Associates in partnership with Janus Henderson Investors and IMCA to identify the advantages of working in a team and to distinguish the attributes and practices of the most productive teams. Janus Henderson Investors offered support to add to its existing suite of advisory teams resources provided by its practice management specialists and services. For this study, teams were ranked based on the following three factors and then segmented into quartiles based on overall performance:
Assets under management (AUM) per producing advisor: Represents the advisor’s ability to attract and retain clients.
AUM per total headcount: Represents the team’s overall efficiency and ability to scale its practice when considering the contributions of advisors and staff roles collectively.
Average client size: Represents the team’s ability to attract high-net-worth investors with complex needs and higher asset levels.
4X
2X
3X
Based on our study, the top-performing advisory teams have consistent attributes that fall into 3 main themes.
DO YOU KNOW YOURSELF AND YOUR TEAM?
Being self-aware or having team self-awareness allows you to delegate responsibilities based on each other's strengths and weaknesses.
27%
52%
63%
DO YOU KNOW YOUR 'WHY' STORY?
A shared model and vision within a team may be more attractive to high-net-worth clients.
$3M
$5M
$2M
DO YOU KNOW HOW TO PRIORITIZE & BUILD MOMENTUM?
Focusing your team on one thing can cut through to-do clutter and build huge momentum toward your goals.
90
150
300