In my career, I had the privilege of speaking in thousands of seminars. Communication is a God-given gift. I’ve listened to hundreds of speakers, some motivational, others tacticians. Most presenters speak at the 30,000-foot level, a few are technically deep and well versed in their areas of expertise. Often the public wants to meet with the speaker for their financial planning. Afterall the speaker can communicate. He has charisma and a certain panache. But eloquence is never a substitute for a detailed planner, of which most of them are not.
On the other side of the ledger you have the analytic and detailed financial modeler who knows the numbers, the tax law and the mechanics of mutual funds and ETFs. A quick story: I had just finished my speak and left the platform at a CFP gathering. The next speaker was a leading authority on qualified plans. Her articles were scholarly and writing style like an MBA academic. But she couldn’t speak. She was clumsy and groping for the next line. She, who was so well versed in her subject matter, couldn’t voice a meaningful point. I was completely caught off guard by her inability to communicate her position and I suffered with her with each disjointed line that fell from her mouth like bricks crashing to the ground. A charismatic personality and brilliance are rare skillsets to intertwine around a single soul. She could plan, but she could not speak.
Many successful partners recognize their counter parts have talents and gifts that flourish and are a credit to the firm. They also recognize their own deficiencies and spend little to no time attempting to fix obvious flaws in their personality or focus on their lack of education in subject matter that their partners can address. Teaming up with the right partner can expand your practice and take unnecessary weight off your back. Everyone wins.