The Five Costliest Delegation Mistakes

A lot can go wrong when you start delegating tasks in your practice; here are our top five mistakes you can avoid the next time you assign tasks to your team.

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3 min read

Micah Shilanski
*Financial Planner, CFP®*

“But I can’t delegate that!”

I hear excuses like this from up-and-coming advisors daily, and I call B.S. every time – you can delegate everything but family, faith, and client-facing time. Those three things are absolute and require personal time and commitment.

Everything else? Push that off your plate and into the hands of someone else whose skill set is more adept than yours.

You can’t run surge meetings or have a top-performing RIA without delegation. Here are the top five mistakes I’ve made in my practice and ways you can prevent them altogether.

1. Making excuses

Regarding delegation, follow Joko’s example, take extreme ownership of your business, and stop making excuses.

“It’s not worth it to delegate.”

“That can’t be delegated.”

“I can’t delegate until I get to x, y, z, level.”

Those are head trash reasons for why you can’t delegate. In reality, you can’t afford not to delegate. You can’t grow your practice – and you can’t surge – without the support of a well-trained staff.