Growing trust in business relationships is not all that different from coaching a college football team, according to Coach Phillip Fulmer, former head coach at the University of Tennessee, now a partner for business development at Finworx, a behavioral finance firm that works with financial advisors.
In his keynote on the first day of the Financial Planning Association's (FPA) annual conference in Nashville, Tennessee, Fulmer laid out his recommendations for how advisors can build a solid foundation for their team members and clients:
|1. Be a mentor but do it well.
He described a time when he failed at that task with Dustin Colquitt, a punter for Tennessee who eventually went pro with the Kansas City Chiefs. Colquitt was kicking high and long when he joined the University of Tennessee Volunteers (the Vols), so Fulmer played him in a game where he subsequently kicked out of bounds the first two times, followed by a short kick that rolled back to the snapper.
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