The career path distinguishes between Backstage roles (behind-the-scenes work) and Frontstage roles (client-facing positions):
Backstage Positions
1. Client Service Advisor (0-3 years experience)
- Manages pre and post-appointment logistics
- Processes new business and handles client administration
2. Paraplanner (Bachelor’s degree and 2-5 years experience)
- Designs financial plans and conducts financial/tax modeling
- Meets with advisors to finalize deliverables
Frontstage Positions
3. Advisor (Bachelor’s degree and 3-7 years experience, working toward CFP)
- Supports Lead Advisors with larger clients
- Services smaller accounts independently
- Often referred to as “Second Chair” advisors
4. Lead Advisor (Bachelor’s degree and 5-10 years experience, CFP certified)
- Manages high-value client relationships
- Drives business development
- Mentors and trains team members
- Functions as “First Chair” advisors
5. Practicing Partner (10+ years experience, industry specialist)
- Holds ownership stake in the firm
- Leads firm strategy and oversees most valuable relationships
- Drives organizational growth
The Two-Chair Approach to Client Service
For Frontstage roles, we implement a two-chair approach:
- First Chair Advisors (Lead Advisors and Practicing Partners): Close business and mentor less experienced advisors
- Second Chair Advisors (Advisors or Paraplanners): Handle meeting organization, plan design, and communications
This structure creates a natural mentorship pipeline while ensuring consistent client service quality.
[Related: Structuring Your Financial Advisory Firm for Success]
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- Operates as an informal mentoring program
- Supports better service to clients
- Outlines the rubric for job advancement
- Walks individuals step-by-step through their career projection
- Acts as a unique recruiting tool for top talent
- Facilitates measurables for annual reviews
