Bank Investment Consultant

Hello.  I am writing you regarding an article that was written below by Kelli B. Grant.  First let me say that the topic of delegation is a very important topic in our industry.  Advisors find it very difficult to delegate and in efficient and empowering manner.  I appreciate you bring this topic to the forefront. 

I would like to make a few comments about the article by Ms. Grant if I may.  The work that I do and my area of expertise is around Operations Management for financial planning and investment management firms.  Part of this work revolves around workflow process.  It is my belief and experience that an owner or senior planner cannot delegate without the following in place:

·         There is written proactive, consistent and efficient workflow process in place that is accountable

·         The staff working the workflow has been given the opportunity to have a say in how the work will be completed

·         There is commitment from both the owners/senior planners as well as the support that that the process will be followed

·         The staff is allowed to own and be accountable for the work being delegated.

·         And that there is a plan in process in place that lays out the expectations and timeline for the delegation to start and be completed

I also feel it is very important that while an owner or senior planner is looking to delegate work that a review of the job functions being completed within the firm is conducted.  Core competency job functions should remain within the firm and non core competency job functions should be outsourced if possible IF the firm (owner, senior planner, and staff) is committed and open to outsourcing.

I feel these messages were missed by the article that Ms. Grant wrote.  If an owner were to follow the steps that Ms. Grant laid out in the article, I feel the delegation process would fail.