“Firm leaders need to have what I call courageous conversations with their advisors if they want to retain talent,” she added. “Our industry by its nature is very structured. It has to be. Some advisors live their life by a spreadsheet, but we all have to adapt to the changes the pandemic has forced on us.”
Genjac noted in a recent blog post that she sees two types of firms when it comes to dealing with outfall from the pandemic.
“The first type is transitioning back to their office without much planning. They are just hoping things will go back to normal the way things were before the pandemic. The second type is doing more planning. They are checking in with their people to understand how they feel about a return to the office.
‘I think the second group may have a smoother transition and their teams will appreciate their thoughtfulness,” she said.