Practice Management Clinic: Human Capital – Building Stronger Teams

The first Practice Management Clinic of 2025 focused on Human Capital, specifically the topic of Training. Facilitated by Kathy Lintz (Matter Family Office) with panelists Courtney Pullen (Matter Family Office), Andy Wolfgang (Cerity), Laura Ilkiw and Julie Melwani (BBR Partners), the session examined training, onboarding, leadership development and technology-driven learning solutions to support professional growth and retention. Below is an article that features ideas, topics and challenges discussed at this Clinic.

 

To learn more about our ongoing Practice Management Clinic sessions click here.

 

Please note: Topics, recommendations, lessons learned and best practices described below came from the discussion of industry professionals with expertise who have worked in the field for at least two decades. The information is shared for informative purposes only; we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability or completeness, and your reliance on any information is solely at your own risk.

 

UNHW Institute Practice Management Clinic: Human Capital
Feb 2024

Practice Management Clinic: Human Capital – Building Stronger Teams

A well-trained, highly skilled team is at the heart of every successful wealth management firm. However, as firms navigate an increasingly complex financial landscape, ensuring employees receive effective training and professional development remains a challenge. This was the central focus of the UHNW Institute’s February 2025 Practice Management Clinic, where industry leaders shared insights on optimizing training, onboarding, and ongoing talent development.

Facilitated by Kathy Lintz of Matter Family Office, and supported by a panel that included Courtney Pullen, also of Matter Family Office, Andy Wolfgang of Cerity Partners, and Laura Ilkiw and Julie Melwani of BBR Partners, the clinic encouraged participants to share insights into competency models, mentorship programs, and strategies to integrate emotional intelligence into training programs.

Building a Strong Foundation: Structuring Training Programs

The clinic emphasized the importance of structured training programs that provide a clear pathway for employees at all levels. Firms that fail to invest in structured training often struggle with inconsistent service delivery, misaligned expectations, and talent retention challenges.

Key Takeaways:

By clearly defining training levels and expectations, firms can build a culture of continuous learning and professional growth.

Onboarding and Talent Management: Retaining Top Talent

Successful onboarding and long-term talent management play a critical role in reducing turnover and fostering a strong, engaged workforce. The first 12-24 months of an employee’s tenure are especially crucial in determining their long-term success within the firm.

Key Takeaways:

Onboarding New Employees

Ongoing Talent Management Strategies

A thoughtful approach to onboarding and talent management ensures employees feel supported, engaged, and motivated to build long-term careers within the firm.

Addressing Challenges in Training & Development

While firms recognize the importance of training, many struggle with implementing effective programs due to time constraints, resource limitations, and the challenge of balancing technical and human capital development.

Key Challenges & Solutions:

By proactively addressing these challenges, firms can create more effective and sustainable training initiatives.

The Role of Technology in Enhancing Training & Measuring Success

The digital transformation of wealth management presents new opportunities to enhance training through technology. Firms that integrate digital tools into their training programs can improve accessibility, efficiency, and engagement.

Key Takeaways:

By leveraging technology, firms can make training more dynamic, measurable, and scalable.

Actionable Next Steps for Firms

To strengthen training and development, firms should consider the following next steps:

  1. Refine Training Structures: Implement a multi-tiered training program to ensure employees develop skills progressively.
  2. Enhance Onboarding Programs: Adopt a phased approach that extends beyond the first few months, ensuring new hires integrate smoothly.
  3. Foster a Culture of Continuous Learning: Encourage employees to pursue ongoing education through mentorship programs, professional certifications, and industry conferences.
  4. Invest in Leadership Development: Equip managers and senior leaders with the necessary skills to mentor and develop their teams.
  5. Leverage Technology for Training and measurement: Use digital tools to track learning progress and assess the effectiveness of training initiatives.

Lessons Learned & The Path Forward

February’s Human Capital and Training Practice Management Clinic reinforced the idea that a firm’s success is directly tied to the strength of its people. Structured training programs, thoughtful onboarding processes, and ongoing professional development are critical to creating a knowledgeable, engaged, high-performing team.

By prioritizing continuous learning, leveraging technology, and refining talent management strategies, wealth management firms can ensure their professionals are well-equipped to navigate the evolving financial landscape and provide exceptional client service.

As firms move forward, fostering a culture of learning will not only enhance employee retention and satisfaction but also drive long-term business growth and success.

Mission:
  • Provide an intellectual framework, understanding and organization of family wealth management content
  • Educate advisors and family offices on how best to support evolving UHNW families
  • Provide thought leadership, insights and resources to advisors and family offices
  • Promote best practices, provide professional development and support sustainable, positive change within our industry
  • Foster an equitable, collaborative and safe learning environment within the wealth management industry