Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here.

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Dear Bev,

I am the COO for a fairly large advisory firm. I get along fine with the founder and leader, “Jim.” We meet regularly and make decisions mostly together. He is respectful toward me, as am I with him.

We have an important issue that needs to be addressed in terms of who will be our lead CIO for the firm. Our CIO is retiring and we have two candidates in place who could be the successor. Our investment process is very rigorous and developed, so we don’t need a lot in the role.

Jim and I met and I thought we had agreed on one of the internal people who would be groomed to first step into a co-CIO role and then the lead CIO role within the next nine months. Jim and I spoke about timing and coaching opportunities. We spoke with the current CIO (the soon-to-be retiree) and he validated our decision.