As a financial planning business owner or leader, you’re likely focused on growth strategies: acquiring clients, building efficient systems, and expanding your team. But there’s one often-overlooked factor that can make or break your ability to scale - company culture.
Culture isn’t just a buzzword or an HR responsibility; it’s the unseen thread that holds your business together. It shapes how your team works, communicates, and represents your business to clients. And here’s the thing: culture is created whether you focus on it or not - but when left unattended, it can drift into something misaligned with your vision.
Culture Starts at the Top
In financial planning businesses, leadership plays a pivotal role in setting the tone for culture. As the leader, your actions, decisions, and communication style create a blueprint that your team will follow. Culture is cascaded down, not pushed up.
If you’re intentional about embedding the right values and behaviors, you’ll create a culture that aligns with your vision for the business. If not, it will be shaped by chance—and potentially by conflicting subcultures that don’t serve your goals. While subcultures are inevitable in any growing business, they must complement and support the broader company culture. Otherwise, they risk creating silos and fragmentation.
The Time to Start is Now
One of the biggest mistakes leaders make is delaying their focus on culture, thinking it can be addressed “later” when the business is bigger or more established. In reality, it’s hard to play catch-up. The earlier you start shaping your company culture, the easier it is to scale without losing your way.
Culture doesn’t just appear overnight. It’s built through experiences - through the wins and the failures, the trial and error, and the shared moments that define what your business stands for. Every decision you make, from how you onboard new hires to how you handle mistakes, feeds into the culture your team absorbs.
The Hidden ROI of a Strong Culture
A well-defined culture doesn’t just make your business feel cohesive; it also drives measurable outcomes.
Hiring: Your culture becomes a template for finding the right people. Candidates who resonate with your values are more likely to thrive in your business.
Retention: Employees who align with the culture are more engaged and committed, reducing costly turnover.
Client Experience: A cohesive team delivers a consistent, high-quality experience for your clients, enhancing trust and loyalty.
Culture Requires Leadership and Change Management
Creating and maintaining a culture isn’t a one-time initiative; it’s an ongoing process of change management. As your business grows and evolves, so will your culture. Leaders need to adapt their own behaviors and encourage their teams to do the same.
This is where a coaching approach becomes invaluable. A coaching culture develops open communication, collaboration, and accountability at every level. For leaders, this means embodying a “coaching way of being”—focusing on asking questions rather than giving directives, guiding rather than dictating, and empowering team members to find their own solutions.
When coaching becomes part of your management style, it cascades through the organisation, reinforcing a culture of growth and trust.
Practical Steps to Embed Culture in Your Business
Define Your Values: Start by identifying the values and behaviors that align with your vision. Make these explicit and visible to your team.
Lead by Example: Culture begins with leadership. Demonstrate the values you want to see in your team.
Integrate Culture into Hiring: Hire not just for skills but for cultural fit. Ask interview questions that reveal alignment with your values.
Create Shared Experiences: Celebrate wins, learn from failures, and involve your team in shaping the business. These moments solidify your culture.
Invest in Coaching: Train your leaders in coaching techniques and encourage a coaching culture at all levels of the organisation.
Culture is Your Foundation
Neglecting culture isn’t an option for businesses looking to grow and scale. By starting early, leading intentionally, and embracing a coaching approach, you can build a culture that not only supports your current team but also attracts and retains the right people as your business expands.
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