Why Your Associate Advisor Might Be Doing Less Than Expected—and How to Fix It

Why is it that you bring on an associate advisor, lay out their contract and expectations clearly, and yet, after some time, you feel they’re doing less than they should?

I’ve seen this scenario play out for decades with financial advisors and agency owners—and I experienced it myself early in my career.

My Own Story: Blurred Lines and Burnout

Many years ago, I hired an associate. On paper, their job was clear: prospect, consult with clients, and grow the business. But truth be told, I was burned out. Instead of letting the associate focus on their own work, I leaned on them for energy and support so I could keep producing the record-breaking results I was known for.

They poured their time and energy into propping me up, and with their backing, I got my work done. What I didn’t see was that I was draining their capacity to deliver on their own client results. Years later, when we finally sat down to talk about partnership, everything came to a head.

That was my story. But over the decades, I’ve seen this same pattern repeat itself in many other advisor–associate relationships.

Another Story: When Early Promises Lead to Trouble

A familiar version of this looks like this: an advisor hires an associate advisor to build capacity. Early in the relationship, they make the mistake of saying, “One day, you could be a partner.”

Not long after, the advisor begins blurring the lines. They invite the associate advisor into high-net-worth client meetings, exclusive dinners, and strategic planning sessions. Without saying it outright, the advisor signals that the associate is “different” from the rest of the team.

The associate advisor, understandably, internalizes the message: “I’m on the partner track.” In their mind, they’ve already become a 50/50 partner.

The advisor, however, is still holding them accountable to the contract and bonus structure, which includes:

• New AUM targets tied to bonus eligibility.
• Life FYC client benchmarks.
• Client conversion ratios and reviews.

When the associate fails to meet those expectations, the advisor feels frustrated. The associate, on the other hand, feels they’ve been contributing in other ways—providing service support, handling transactions, and giving the advisor the emotional energy to keep achieving client outcomes.

The disconnect grows wider until the advisor finally brings up partnership terms. At that point, the associate recalls being told years earlier that partnership was possible. The advisor then points out that, back then, the business was worth half a million dollars, and if the associate truly wanted to be a 50/50 partner, they should have written a check for $250,000. By this stage, the associate already believes they are a partner in practice. The relationship collapses, sometimes ending in court.

The Psychology Underneath the Numbers

Why does this happen so often? Here are a few of the psychological dynamics at play:

The Support Trap: Associates are hired to produce, but they drift into providing service and support. The advisor leans on them, consciously or unconsciously, for energy.

Business Developer vs. Service Provider: Many associates have the wiring of business developers—they thrive in prospecting and client consultations. When asked to do service and support, they can adapt, but it drains them.

Recognition Gap: When associates adapt to provide support, they often don’t receive acknowledgment for that contribution. Then, when challenged about client results, they feel unrecognized and overwhelmed.

Emotional Energy Transfer: Advisors sometimes lean on associates as an emotional foundation to keep producing at a high level. This leaves the associate carrying two jobs: supporting the advisor and meeting their own numbers.

How to Put the Relationship Back on Its Wheels

When this dynamic develops, it doesn’t mean the relationship is doomed. But it does require a reset. Here’s a framework I use with clients to put things back on track:

Acknowledge Accomplishments
Begin by fully acknowledging what the associate has contributed—not just the numbers, but also the service and emotional support they’ve provided. Recognition creates space for accountability.

Recognize the Support Role
Be explicit that you see the associate has taken on roles beyond their contract. This removes defensiveness and helps them feel understood.

Re-anchor to the Contract and Bonus Structure
Pivot the conversation back to the measurable benchmarks outlined in the original agreement. These might include:

• 50 new wealth clients annually.
• A 30% conversion rate into other lines.
• Annual AUM growth tied to thresholds.
• Life FYC client benchmarks.

This isn’t about blame—it’s about clarity.

Introduce a Scorecard
Implement a scorecard that tracks both leading indicators (consultations scheduled, client reviews completed, solutions delivered) and lagging indicators (AUM, net new clients, Life FYC). Review it weekly to eliminate ambiguity and excuses.

This sequence—Acknowledge → Recognize Support → Re-anchor Contract → Scorecard & Accountability—is simple but powerful. It brings objectivity back into the relationship and resets both parties around shared expectations.

A Final Word

If you’re finding that your associate advisor is doing less than you expect—even though their contract says they should be doing more—step back. Ask yourself: have you blurred the lines? Have you leaned on them for support and emotional energy, while still expecting them to hit full client benchmarks?

The path forward is about balance. Acknowledge what they’ve done, recognize the roles they’ve played, re-anchor expectations in the contract, and then measure progress through a clear scorecard. That’s how you turn a blurred relationship into a productive one again.

Invitation

Are you facing blurred lines with your associate advisor? Do you feel they’re not delivering the client results they should, yet you’re leaning on them for support? Let’s talk.

I’ve helped countless advisors and agency owners reset these relationships—clarifying expectations, restoring accountability, and keeping the business on track.

👉 Book a complimentary conversation with me here