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Dear Readers,
This is both my favorite and most challenging time of year when, in addition to running the business, I teach a full load of graduate classes on leadership and managing teams. It’s challenging from a time perspective, given I need to be available and attentive to over 65 students. However, it’s also very fulfilling to work with the students and see them learn and engage.
One of the experiences in class leads me to write this column on communication in leadership. Below is a student quote that indicates what they learn through the material.
“Through self-assessment, discussions, and experiential activities, I realized that leadership is notabout control — it’s about connection. It’s about understanding yourself first, so you can understandothers.”
The lesson for this week’s column is on the difficulty of communication in a fast-paced, demanding world. In a separate breakout from the one above, I asked the students to “plan an end-of-the-year party.” For me, being in the financial services sector, the end of the year means December 31. For the students, the end of the year means sometime in May or June, when the school year ends and some of them are able to graduate. I typically include the language “holiday party” but neglected to do so when I gave them the assignment. One group came back with a big December event but the other three planned a May or June timed party.
This was a great reminder of how casual we can often be with language. I call it the “nuggets,” because they are small seemingly insignificant comments that prospects, team members and clients drop when speaking to us. In many cases, there is some larger underlying message we want to explore. We assume we know what they mean, but language is funny. Even the clearest statement (what could be clearer than “end of the year”?) can be misinterpreted if my lens is different based on my background and lifestyle.
Some key tips as we navigate the fourth quarter for ensuring your communication is clear, concise and understood by all:
- Remember that people have different communication and learning styles. What works for one person who “gets it” doesn’t work for another. If a message is important, make sure to use several modes of communication — written, verbal and interactive — wherever possible. Be sure to check for understanding by the recipients of your message. Ask someone you trust how the message was received and whether there is need for additional clarification.
- Context matters. Always give the “why?” of any decision. Even if you know someone won’t want to hear the message, when you can explain what happened, why the decision was made and any background information, the listener is going to be more open. Too often in business, senior leaders share the what, and sometimes the how, but they often overlook the why. What’s behind the message? This is an important component to include.
- Watch out for overused words. Especially in the financial services industry, jargon is everywhere. Assumptions get made and people believe they are being clear, because everyone knows what a particular term or turn of phrase means. I remember developing a training wherein I wanted managers to be reminded about SMART goals (specific, measurable, action-oriented, realistic and time-bound). The training partner at the client firm I was working with told me not to bother because “everyone knows SMART goals and how to establish them.” I ultimately left the material around SMART goals in the training, and this became the most important topic we covered. The leaders wanted to spend a lot of time learning about SMART goals and the best ways to use them! It wasn’t about being right for me — rather, it was more about the assumptions we make when we use certain terms and concepts, and remembering not everyone knows what we might know!
- Slow down to ensure important information is conveyed adequately and completely. In a recent coaching lab I was running, we were talking about delivering a difficult message to team members. A lot of times the leader wants to rush through and get a tough message out there without having the discomfort of dealing with the fallout. In the lab, many of the seasoned managers talked about the importance of practicing with a colleague or on their own before delivering a tough message of any kind. Waiting, preparing and practicing can be key before rushing in to get something over with, when it comes to effective communication.
- Communication is not just about talking — it’s also about listening. Reach out to team members in advance of an important message to get their point of view or “take the pulse” of the team. Once a message is delivered, follow it up by asking people for input and insights to gain feedback. Respecting communication as engagement, and an ongoing practice, will make you a much better communicator and influencer overall.
When we talk about leadership in my grad classes one of the key areas that comes up is the ability to communicate effectively. You might believe you excel at communication, but take the time to consider where you can improve.
Beverly Flaxington co-founded The Collaborative, a consulting firm devoted to business building for the financial services industry, in 1995. The firm also founded and manages the Advisors Sales Academy. The firm has won the Wealthbriefing WealthTech award for Best Training Solution for 2022, 2023, 2024 and 2025. Beverly is currently an adjunct professor at Suffolk University teaching undergraduate and graduate students Entrepreneurship and Leading Teams. She is a Certified Professional Behavioral Analyst (CPBA) and Certified Professional Values Analyst (CPVA).
She has spent over 25 years in the investment industry and has been featured in Selling Power Magazine and quoted in hundreds of media outlets, including The Wall Street Journal, MSNBC.com, Investment News and Solutions Magazine for the FPA. She speaks frequently at investment industry conferences and is a speaker for the CFA Institute.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
