How to Create a Culture of Growth in a Financial Advisory Firm

Creating a culture of growth isn’t just about acquiring more clients—it’s about building a team that thrives. Patrick Sweeny, CEO of Apella Wealth, shares his insights on internal promotions, residency programs, and strategic hiring. These methods can help financial firms build a culture where employees don’t just work—they grow.

Investing in Career Development

One of the key drivers of growth within any firm is investing in the development of its people. By providing career development opportunities, firms can retain top talent and help employees feel valued. Patrick emphasizes that when team members see a clear career path, they’re more likely to remain engaged and motivated. This leads to higher productivity, stronger client relationships, and overall firm growth.

Internal Promotions and Residency Programs

Internal promotions are essential for creating a growth-oriented culture. By promoting from within, firms send a powerful message to their employees—that there is room for advancement and that they are valued members of the team. Residency programs, which offer mentoring and training opportunities for future leaders, can also contribute. These programs help create a strong, well-trained team that’s committed to the firm’s long-term success.

Strategic Hiring and Building the Right Team

Another important aspect of creating a growth culture is hiring strategically. Firms must be intentional in building teams that align with their mission and values. The right hires can bring in fresh perspectives, new skills, and energy. This drives innovation and success. Patrick emphasizes the importance of bringing in team members who share a passion for the firm’s vision. These members will work collaboratively to achieve the company’s goals.

Fostering Leadership and Company Culture

Building a culture of growth also requires leadership. Leaders who invest in the development of their team and foster an environment of trust, respect, and collaboration will help create an atmosphere where employees feel motivated. This environment ensures employees contribute their best work. When leadership invests in training programs, mentorship, and other initiatives that promote growth, the result is a unified, high-performing team.

The Long-Term Benefits of a Growth Culture

The benefits of creating a culture of growth within a financial advisory firm go beyond just retaining top talent. Advisors who feel valued and supported are more likely to stay with the firm long-term. This leads to better client service, higher employee satisfaction, and increased profitability. Firms that focus on fostering a growth culture are well-positioned to thrive in the long term. They attract both top talent and loyal clients.

Inspired by The Connected Advisor podcast featuring Patrick Sweeny,Chairman and CEO of Apella Wealth and Co-founder of Symmetry Partners, learn how firms can build an internal culture of growth. Listen to the full episode here and explore more articles in this series.