The Advisor Delta™

Narrator: Welcome to The Advisor Delta™, the practice management podcast dedicated to helping investment advisors grow their business and reach their goals. Whether you’re looking to scale your practice, streamline operations, adapt to emerging technology, or deliver value to clients - this is the place for actionable insights, thoughtful leadership and innovative strategies. Brought to you by Worldsource Wealth Management. Let’s dive in!
Hi, I'm Kristen McElhone, National Vice President Partnerships and Advisor experience at Worldsource Wealth Management. In today's episode, we're diving into a topic that doesn't always get the spotlight but absolutely should. The evolving role of administrators in wealth management. We've just had our administrative conference here at Worldsource, so this topic is so timely. These professionals are often the first point of contact for clients. They're the backbone of the practice's operations, and increasingly they are key players in business development and growing these practices. Joining me today is someone who knows this space inside and out. Marcia Latcha, Manager of Business Development and Client Onboarding at Financial Wealth Builders Securities of Worldsource Securities, Inc. Marcia leads the firm's growth and onboarding strategies, and she's here to talk about administrators and their increasingly complex role in advisory practices. Marcia and I have known each other for a number of years, but we got to get reconnected at the administrative conference. Welcome to the show, Marcia.
Marcia: Thank you so much for having me, Kristen. And it was such a pleasure reconnecting with you after all these years.
Kristen: Fantastic. Let's kick things off. So, what was something you're gonna take away from the conference? What was sort of one of your aha moments or things you learned?
Marcia: Something that really stood out for me at the conference was an exercise we did, it was called the TKI assessment. And what this really does is it helps individuals identify their preferred style of dealing with conflict or handling conflict. I didn't know I had a style of handling conflict. And what really came out of that was there's five modes of handling conflict: competing, collaborating, compromising, avoiding, and accommodating. And when I really looked at all of those, I went through all of those five in different phases of my journey in this industry. And where I currently landed on was the collaborating. So that was a big aha for me because it really showed my growth and that I actually took the time to really learn about myself and internalize my growth at that point.
Kristen: And do you find that your conflict mode is different at work versus at home? 'Cause I know when we went through that exercise, I really found that it was very different when I thought about dealing with my kids or my husband versus at work versus who I want to be at work.
Marcia: At first, yes, I did. But then getting deeper into it, I am starting to see how my current mode, collaborating, is translating into all areas of my life, even how I deal with my 12-year-old.
Kristen: That's a challenge.
Marcia: Definitely.
Kristen: I would think there'd be a lot of competing or avoiding in that one, for sure. So you've been with Worldsource Securities for quite a while. I know a lot of these administrators, did you get a chance to reconnect with anyone or get any insights that you haven't seen for a while?
Marcia: Yes, and I always find it such a great event to come to, to really reconnect with your peers, to have that human touch, that human connection, because you know, in the world of Zoom and being behind closed doors, you don't get to come out and interact. So I looked at it as a great networking opportunity and I met some really great people, new ones that I haven't seen. I really shared some insights on how they can help build and elevate themselves in this industry.
Kristen: I'd like to talk a bit about your personal experience in the evolution of the administrator role. Could you share a little bit about your story, how you got into the financial advisory space and what your experience has been like in your career?
Marcia: So I love telling this story because my journey into this space was anything but conventional. I actually started out studying broadcasting, totally immersed in storytelling and media. So at the same time, I was also working part-time as a marketing assistant at a financial services firm that focused solely on supporting educators and their families across Canada. What really started as a side job quickly opened the door to an entirely new world. I began learning about the financial industry, how it works, and most importantly, how it's served. And that was the biggest takeaway for me, how it's served. And that curiosity turned into passion. And over time I found myself really stepping into different roles, learning the ropes from the inside out.
Kristen: That's fantastic. That's a really interesting start to get into this industry. What's something about being an admin in this industry that people outside of the role often misunderstand or don't see?
Marcia: You hear a lot of people say admin, and you immediately picture someone that's just taking orders or doing basic tasks, but it's so much more deeper than that. Like for me, being an admin in the industry is actually incredibly layered. We're like the behind-the-scenes storytellers. We're kind of like journalists. We're crafting, we're shaping, we're holding together and the moving parts that no one sees, but everyone relies on. I. So it's really creative, it's strategic, and it just really plays a huge role in how everything functions. We are actually not just supporting the story, we're helping to build it.
Kristen: That's fantastic. It's so true. How have you helped others recognize and elevate this role of administrators in this industry?
Marcia: So I always start by recognizing what someone is naturally good at, like their strengths and their spark, and then I build on that because I believe that visibility starts from within. When you see people for what they uniquely bring to the table, and then you give them that space to lean into that, it really shifts how others see them too. And I always make a point to highlight those contributions out loud, whether it be in meetings, in emails, like, you know, in conversations with leadership, the admin team is really often holding everything together. So I just try to make sure that, you know, value doesn't stay visible. Elevating the role is really about shifting the narrative from support staff to essential partners in building the bigger picture.
Kristen: For sure. And that shift and change in responsibilities of administrators over the past few years. What do you think has been the driving force behind that?
Marcia: Oh, compliance. Compliance has really transformed this role. It used to be all about client service, scheduling, keeping things running day to day, but with new regulations, industry standards. And we're now handling a lot more complex responsibilities, managing documentation to ensuring everything aligns with policy. What’s really driving that shift is the need for a greater trust, accountability, and transparency in this financial space we're in. Like we're not just supporting the business anymore. We're actually helping to protect it.
Kristen: I think that's a great place to transition then into talking about. Those teams and the leadership administrators play in their practices. In your experience, what's the most practical way for a financial administrator to build stronger connections with their teams and with their clients?

Marcia: Listening to understand is the key. It's not just about hearing the words, it's really tuning into what someone is saying. And what they're not saying. So when you take the time to listen and pick up on important details, it builds trust. Everyone has a story. And when you understand that story, your approach becomes more thoughtful, more personal, and that's what really builds long. I. Lasting connections.
Kristen: For sure. For sure. Can you share a story where your growth or your leadership directly impacted business development or client satisfaction in the practice you work in?
Marcia: Oh, for sure. I love stories. It all started with a pattern, actually. We noticed in our process and how we communicated it, it kept changing slightly each time. So as a team, we stepped back and we decided we need to streamline this approach. So we built a clear, standardized formula, something that was simple but consistent, and it really quickly became the foundation of how we operated. That one shift strengthened the entire service experience and it works much more efficiently now. So it was a quiet behind the scenes leadership moment that really made a lasting difference.
Kristen: So shifting a little bit these days. Capacity and burnout are really real concerns in our industry. When you're working with your team, how do you approach conversations about capacity? There's so much that you're responsible for, so much you do. And about delegation and empowering other members of the staff to really lead from their, they're spot on.
Marcia: the team. This definitely starts with creating a space where people feel safe to speak up about capacity. It's not just when they're overwhelmed, but before it gets to that point. I always encourage open conversations about workload priorities and what can realistically be delegated, and you know, when it comes to empowerment, I believe in this. Everyone who sits in their seat owns that seat. Own what you're doing, like you created it. When people feel that sense of ownership, they step up. They take initiative and lead from where they are. There's no title change needed. It's not about really doing more. It's about doing what matters most with clarity and confidence.
Kristen: What would you say a well run day looks like for you? What really keeps you on your toes?
Marcia: So, I do often get asked this question, and for me, a really well run day actually starts the night before. So I always create a space for myself before the ending of my day to list out my top five non-negotiables for. The next day, and those are things that really move the needle for me. I also block out specific times in my calendar for, you know, the repeated tasks so I can stay focused instead of reactive. And that structure really gives my day flow and clarity something that actually keeps me on my toes. That's when plans completely go out the window. You know, maybe a client had an urgent need, there was a last meeting popup, or a system hiccup, which definitely throws things off, and it's those curve balls that really test your ability to pivot. You've gotta stay calm, you've gotta adapt fast, and you really still have to show up with intention And a fun fact, really my secret to staying energized throughout the entire day. Is I take midday dance breaks. I love that. Love dancing, and it's usually to mc Hammers Can't touch this.
Kristen: I think this is a great tip for all of us and we should all try it out, but maybe, maybe a little later. We'll, we'll take that one on. In your experience, I. What role should administrators play in the onboarding process as you're bringing on new clients, and how can they add value to that pivotal process that's beyond the paperwork?
Marcia: So admins play a huge role in just setting the tone from day one. So yes, we handle the paperwork and the logistics, but often our real value goes far beyond that. It's about creating a smooth, welcoming experience. And really building a relationship from the start. We are often the first consistent point of contact, so how we show up matters. Things like being present, approachable and organized. Admins can make new clients or team members really feel seen and supported, and that early connection builds the trust and sets the foundation for longer term relationships. Now when onboarding is done with care, it really becomes more than just a checklist. It's the first impression that lasts.
Kristen: for sure. And I think, I know I've seen through my experience, we often in our industry talk about the advisor relationship with the client. It tends to be the administrators, the assistants who have those ongoing conversations. They're the first one to hear. Mm-hmm. When there's been a major life event, good or bad. So I love that you're starting that right from day one. Yep. With those relationships. So when you have friction points with clients, when there are issues with the relationship, or just maybe personalities in that onboarding process, what can teams do to proactively to avoid that?
Marcia: So one of the biggest friction points I actually see is lack of clarity. Another common issue is missing or incomplete information, which usually causes back and forth and that. Definitely slows things down. So to avoid this, really, teams need to be proactive. And what does proactive mean? It, it really just means having a clear, consistent process in place, setting the expectations early, and this is a really big one, communicating openly every step of the way. It also helps to assign a go-to person for onboarding someone who builds the relationship and keeps things moving smoothly. When everyone knows their role and the client feels supported, the entire process just becomes more efficient and more human.
Kristen: for sure. And how do you work with different client personalities? You aren't always the one who's choosing who your clients are gonna be. So how do you make it work?
Marcia: for me, the biggest thing with clients in any relationship, it starts with listening and observing. Every client has a different communication style. I. Comfort level and a level of financial understanding. So it's really important to meet them where they are. So you have the clients who like details for that. We provide step-by-step breakdowns for those who prefer bigger picture conversations. We keep it high level and concise, so complexity often also plays a big role. So, as an example, if a client situation involves multiple accounts. Family members or sensitive transitions. We slow down. We add more checkpoints and offer extra touchpoints to keep things clear and calm. The key here is really being flexible and intuitive and adjusting the experience so each client feels seen. Understood and supported right from the beginning.
Kristen: So moving on into looking to the future of the practice and and your role and technology, what skill sets do you think that administrators need to develop today so that they can evolve with the industry and stay essential to the practices they're part of?
Marcia: So if I had to choose one core skill, it would definitely be adaptability. This industry is constantly evolving. There's new tech, there's changing regulations, and there's shifting client expectations. Being able to pivot with confidence is what keeps it essential. It's not just about reacting to change. The admins who thrive are the ones who see change as an opportunity, not a disruption, and they use it to grow. To lead and support their teams in new valuable ways.
Kristen: I think that's such a great point. I'm not sure there's anything more consistent than change in this industry, and I think that's only gonna continue to, definitely to speed up as we go. So thinking about that change, technology is playing always a bigger and bigger role in what we're doing in the financial sector. In your opinion, how do you think administrators can use technology, not just to keep up, but to really become drivers of innovation in the practice?
Marcia: Yes, so we definitely are playing an increasingly bigger role in this financial sector. We're in a unique position to lead with technology because we're often the closest to the day-to-day operations. So we see where the gaps are, where things slow down, and where. Tech can actually make a difference by staying curious and proactive. Testing new tools and suggesting smarter systems really helps the team to adopt them. We're not just keeping up, we're driving with change. It's about more than using tools. It's about integrating them in a way that improves the client experience, supports the advisors, and creates a more efficient forward-thinking practice. That is really how admins become true innovators in this space.
Kristen: Is there a piece of technology that you are using or a process that you're finding to be a game changer in how you do your work? Oh,
Marcia: absolutely. Um, and I think this game changer is standard in a lot of practices and a lot of people would agree with me when they say the CRM is definitely their number one game changer in their business. And now with technology and things that are evolving, tools like Chat, GBT. Is coming to the forefront in how we communicate. Now, keeping in mind with new technology, we have to fact check obviously with compliance and make sure everything meets regulatory standards. We can't take everything word for word, but again, it is a tool that helps provide additional support. These are not just tools. It gives us visibility, accountability, and helps to create a seamless client experience For me, these are really the central hubs that keeps the entire team aligned. Could you give us an example of where you use AI in your role? I really enjoy using AI tools for things such as. You know, executive summaries and guidelines. Spreadsheets is another big one to provide data and insights, client communication and drafting templates. So those are just some of the key things that really helps in day-to-day operations.
Kristen: So what advice would you give to an administrator who wants to take on a more strategic and influential seat at the table of their practice?
Marcia: So my advice is really simple. Act like you already belong there because you do start by understanding the bigger picture, what drives the practice. What matters most to clients and where your work connects to those outcomes. You know from there, speak up with ideas, take initiative, and own your role like you created it. Strategic influence doesn't always come from having a title. It comes from showing up with clarity, consistency, and confidence. The more you bring solutions, anticipate needs, and really align with the vision of the team. The more your voice becomes essential, leadership starts exactly where you are. So lead from your seat and lean into it fully.
Kristen: Thank you so much for joining us, Marcia. This has been such a fantastic conversation.
Marcia: Thanks so much for having me. I really enjoyed my time with you and really showcasing what we do behind the scenes.
Kristen: It's really clear that administrators are no longer just the operational glue of a practice as we've sort of once considered them to be. They're really strategic partners. Driving growth, deepening client relationships and adapting to change in the practices they're part of. Thank you so much to all of our listeners for tuning in today, and we'll see you next time.

Narrator: Thanks for tuning into The Advisor Delta™! We hope you found today’s episode valuable to supporting your practice. For more episodes and insights, don’t forget to subscribe and visit us at www.worldsourcewealth.com. And remember, together, we can take your practice to the NextLevel™. Until next time!
Worldsource Financial Management Inc. (a mutual fund dealer) and Worldsource Securities Inc. (an investment dealer), are divisions of Worldsource Group of Companies Inc., operating as Worldsource Wealth Management. The views and opinions expressed in this podcast are those of the participants only. This podcast is for informational purposes only and does not constitute financial, legal, or professional advice. Listeners are encouraged to seek professional guidance for their specific needs. Worldsource Wealth Management does not endorse any products, services, or companies mentioned in this episode.