Raymond James has introduced a new coaching resource for financial advisors and branch professionals affiliated with its Black Financial Advisors Network (BFAN) to help them grow their business.

The pilot program, developed in partnership with Practice Management Consultants LLC, the firm’s Advisor Inclusion Networks and Private Client Group (PCG) education and practice management division, is a personalized coaching program in which participants will receive individualized plans and one-on-one coaching calls, the company said.

Liz Stiles, director of Private Client Group practice management coaching at Raymond James, said the program and curriculum was developed in collaboration with advisors within the BFAN. “We are thrilled to begin this pilot and are excited to partner with Practice Management Consultants LLC, to bring diverse consultants to help coach our advisors on practice management topics, leadership and soft-skill training. We look forward to advisor feedback and continuing to develop this program,” she said in a statement.

The program will focus on the five following areas:
Enhancing value: Identifying the ideal client and developing and clearly communicating your unique value proposition.
Business development planning: Organizing and developing a marketing plan and sales approach for prospective clients and centers of influence.
• Creating advocates through deeper engagement with clients: Building and executing a client engagement/contact plan that aligns with respecting client segments and tiers.
• Refining core client-facing functions: Developing and implementing core service offerings, including client discovery, client reviews, financial planning processes, and risk and investment management processes.
Organizing and streamlining: Analyzing a business and organizing practice operations and processes.

Renée Baker, head of PCG Advisor Inclusion Networks at Raymond James, said it is important to  continually enhance support for the Advisor Inclusion Networks and build new programming to help Black advisors navigate challenging times and grow their businesses. “Building on our continued support for our Black Financial Advisors Network and the firm’s pledge to the Black community, we are thrilled to bring this resource to our BFAN advisors and support teams,” she said.

The Advisor Inclusion Networks support advisors and the communities they represent, providing resources, strategies and a forum for sharing ideas designed to enhance their businesses, the release said.

Raymond James’s PCG education and practice management department, which includes the Advisor Inclusion Networks, focuses on providing advisors with tools and resources to help them manage and elevate their practices.