What Makes a Winning Financial Team?
This weekend, millions of people will watch what are considered the top two professional football teams slug it out for the championship. If you are like most of us, you have already declared which team you want to win. Whether your team is playing or not, we all seem to choose a side.
My favorite team has some great players, yet they didn’t make it to the end – again. It got me thinking.
- Why do some teams have great players yet never win a championship?
- What’s the difference between a good team and a great team?
- What makes a winning financial team?
What’s the Answer?
Boiling it all down comes to a simple answer. Teamwork.
Building a winning financial team is no different from sports. You want to recruit players who are the best at what they do. The key, however, is having great players who are great together. This is what makes a winning team, not just a good one.
Having financial team members that perform well in their position and coordinate and communicate well with others on the team will help you create winning financial strategies. Just like a sports team, each person has a specific position to play on the team.
Would a football coach ask the quarterback to come in and play defense? Not likely.
Quarterbacks lead the offense. That is where they excel and should perform. A great quarterback has skill but also must be a great communicator. Still, as much as quarterbacks are either the hero or villain of the game, they do not win or lose alone. It takes everyone on the team, offense and defense, doing their part to get the win.
What Makes a Financial Team?
You may have never considered your finances as something you should create a team for. If you are like many of my clients, you have already recruited talented players but have yet to put them together on your financial team.
A financial team may have the following positions:
- Financial Planner
- Attorney
- Tax Professional or CPA
- Bank or Credit Union Representative
- Insurance Specialist
Every person brings a specific skill set to your financial planning goals. They should be experts who perform with high integrity and have your and your family’s best interest in mind. Additionally, each player should be on board with your financial goals, just like a football team with the goal of winning.
Variables in the financial world are constantly changing. To consistently win, each player on your financial team should bring their expertise together and communicate with one another. Having the right players who work well together is the difference between a mediocre team and champions.
If you want to know more about creating a winning financial team, I would be happy to talk with you.
We can meet virtually or in person if you live in the Central Florida area. Please email me at kyle.newell@newellwm.com, call/text at 407.337.7128, or schedule a meeting at Schedule – Newell Wealth Management (newellwm.com)
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All written content on this site is for information purposes only and is not intended to provide specific advice or recommendations for any individual. Opinions expressed herein are solely those of NWM, unless otherwise specifically cited. Kyle Newell and NWM are neither an attorney nor an accountant, and no portion of this website content should be interpreted as legal, accounting or tax advice. Material presented is believed to be from reliable sources and no representations are made by our firm as to other parties’ informational accuracy or completeness. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investment involves risks including possible loss of principal and unless otherwise stated, are not guaranteed. Any economic forecasts set forth may not develop as predicted and are subject to change. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.