With the committee basing most of its policies on measurable key performance indexes, which look into sales, profits and service quality, Day says management by majority vote and effective delegation at Wowprime makes his life much easier.

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Indeed, Fidelity found that younger financial advisors were more likely to play a validation role for their clients and provide assurance that they were making the best money decisions, as compared to Boomer advisors whose clients were more likely to opt for hands-off delegation of all aspects of portfolio management.

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Delegation and professional growth is the key to management success and ultimately, business performance.

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