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Financial Observer: Cultural Alignment Key To Business Progression

All employees within a financial planning firm need to be culturally aligned and motivated by the same goals in order to improve a business and drive it forward, a financial planner and practice owner has said.

Since winning the 2014 No More Practice Transformation Series, Leapfrog Financial director and principal adviser Dominique Bergel-Grant has identified the type of people needed in her practice to ensure success for her business.

“Realistically for me, I had a business at the time that was getting close to three years old,” Bergel-Grant told financialobserver.

“I’d gone into it with the idea that I needed a team to train and mentor [but what I found was] I need a team of people beside me, not people I’m pulling behind me.

“I learnt the value of having people with really good life experience in my office, not work experience.”

She identified the need to have the right team as one of the key lessons she took away from her experience on the show alongside learning to give up control.

“As a small business owner, you let employees get away with more than they should,” she said. “I started last year with two staff who are not with me anymore as they didn’t fit [and] now I have a team of six staff.

“[I discovered that] I can’t continue to have people in my business who aren’t being supportive.”

Spending time working on the business as opposed to working in the business enabled Leapfrog Financial to become more profitable, she said.

“Every month I have a number of days completely for business development,” she said.

“You actually become more profitable by spending time on building your business.”

The No More Practice Transformation Series was accompanied by the 30 Day Business Challenge, an interactive online education initiative that enabled advisers to reflect on their leadership, business purpose, strategy and structure, and culminated in the implementation of a business plan to address these issues.

The No More Practice franchise has also started production on the second season of its Investment Series, which is set to air in mid-2015 on Sky Business and Channel 74.


This article was published by the Financial Observer 21 January 2015 by Elizabeth Somerville.

View this article via the Financial Observer.