Increasing behavioral competencies in Financial Advisors 

The following criteria were used in selecting the case study:
Sample size: The program must have at least 40 participants.
Control group: The evaluation research included a control group or equivalent experimental controls.
Replication: The program has been delivered more than once.
Outcome measures: There are valid data on competency development, performance and/or financial outcomes.
Multiple data points: Pre- and post-measures were obtained.

Case Study -Background:
In 2004, volunteers from an American Express Financial Services group (thirty-seven financial services advisors, five vice presidents, and an administrative assistant) participated in a yearlong pilot program designed to measure the effect of the development of behavioral competencies on their sales and quality of life.

The Business Coaching Program:
The participants were first taught the importance of developing a range of behavioral competencies that directly impacted the executive key professional skills. Through assessment, specific behavioral items were located that were decided to be strengthened. A development plan was then created for each participant. Each person's coach was selected on the basis of their expertise in the participant’s behavioral areas to be developed.

1-to-1 and Group Coaching delivery format
Regular 1-to-1 bi-weekly coaching sessions were conducted over a period of 12 months. Every four months the coachees also engaged in a group coaching session via a conference call. During the group session each participant shared their progress and experiences.  

Pre- and Post-Measures were obtained from the following Assessment Instruments: 
- In-house records of advisor productivity ie: sales/the amount of money an advisor generates
- A Behavioral Competency Inventory providing scores
- A States Survey measuring the ability to experience positive states such as productive rest, concentrated attention, pleasure etc
- A Stress Scale measuring both perceived amount of stress as well as stress tolerance
- A General Health Survey measuring quality of life, mood, anxiety and optimism
- A Vitality Survey assessing the domains of appetite, energy level, sleep patterns, relaxation and body stiffness.

Results:
In difficult market conditions the advisors demonstrated a 60% to 400% improvement in productivity over their peers who did not participate in the program. This significant increase in productivity led to an average increase in sales of 25%. There were also significant decreases in stress with a marked improvement in life satisfaction

Note: Many vital assessment and measurement instruments a professional coach requires are only available to coaches trained and mentored by a facilitator who is also a licensed clinical psychologist. Dr Skiffington's fast-tracked, 4 Day Certified Master Coach Course (in New York, London, Sydney etc) is the only international business coach training program that provides personal instruction in how-to-use the necessary validated tools for obtaining and measuring lasting behavioral coaching outcomes and producing a ROI scorecard..