Strategies for succeeding as a new advisor
As a new financial advisor, you intuitively have the drive to succeed. That’s the underlying reason why you chose to become an advisor in the first place. However, while there is tremendous room for success, you must recognize that success takes time, patience and hard work.
It goes without saying that newcomers to the business must have the right behavior and attitude and be willing learn if they are to fit in and grow in their roles. You must also recognize that you would not be operating in a vacuum and must be respectful of rules of working in a regulated environment.
Although new advisors are expected to bring fresh perspective, you must remain cooperative and use your skills to add value to the practice. If you’re a millennial, for instance, you might want to prove yourself by doing things your way. While there is nothing wrong with that, it is important to recognize that you cannot deviate from being a team player.
Here are five strategies for succeeding as a new advisor:
Seek guidance and training
You must be realistic about your strengths and weaknesses. Do some self-examination and self-reflection on what you like most about being a financial advisor.
Recognize that you have a lot to learn, and don’t be afraid to ask your mentor or a more experienced colleagues for guidance.
Invest in yourself by attending industry courses and seize every opportunity to participate in internal training sessions.
Listen and learn
Keep your eyes and ears open and learn as much as you can from your peers.
Become like a sheet of blotting paper. The more you learn, the stronger you will become.
Use every client meeting as a learning experience. Show your appreciation for feedback and don’t be afraid to ask questions or seek clarification. For example, if a client disagrees with a recommendation, ask why.
Embrace different opinions
Be aware that you will be exposed to differing perspectives and remain open to new ideas.
There are different means to the same end and the views of your colleagues might be different from yours. That doesn’t mean that you should be afraid to express your opinions or put forward a fresh perspective.
Your colleagues could very well come around to accepting your opinion. At this stage of your career, your goal should be to earn the respect of your colleagues by demonstrating that you are a valuable member of the team.
Be humble, not cocky
Show humility in dealing with your colleagues and your clients. Accept that you will face opposition in some of your interactions, and be sure to resolve any disagreements with courtesy and respect.
You are bound to run into resistance, especially if you have strong views on certain subjects. Be humble, rather than cocky in resolving differences of opinions.
Although you are new, you should maintain your self-respect. Do not regard yourself as below your colleagues. You might not have as much experience but that doesn’t mean you don’t have an important role to play.
Drive your own success
At the end of the day, your success as a new advisor depends on your own hard work and commitment to growing your book of business. Be sure to take advantage of all the resources at your disposal, including technology solutions that can help you build your business.