Have you ever wondered why some advisers build thriving businesses while others struggle to keep theirs afloat? For some advisers, their success is in part a bit of luck like being at the right place at the right time or taking over an existing book of clients handed to them by a relative or retiring colleague. However while coaching advisers for more than a decade I have identified some key qualities that all successful advisers possess. Follow their lead and you too can be groomed for greatness
1.) A Passion to Help People: I have asked countless top producers why they are in the financial services industry and their answers all revolve around helping people. For many, making sure that individuals have strong financial security for themselves and their families is an inspiration and motivation
2.) A Willingness to Learn: Recently, I said to a financial adviser client of mine who has $200 million of assets under management, “You are good at selling but you are not great at helping people understand why they should buy.”
“I want to be great!” she said. “What do I need to learn?”
Successful advisers never stop wanting to learn. Constantly evaluating your strengths and weaknesses is a good way to ensure you are consistently engaging in areas of growth.
3.) The Humility to Find Help: Great athletes know that the right coach can take their game to the next level. Successful advisers have the humility to find help for the same reason. “The value that you as my coach bring to the table is to help me to define my challenges even if I’m not sure what they are and to provide solutions that work for other successful advisers,” said a million dollar producer.
4.) An Abundance Mentality: Successful advisers aren’t intimidated or threatened by the so-called competition. “There are enough quality clients in this city for anyone to succeed if they want to,” said a top producer to room full of competitors during an FPA statewide association meeting.
5.) The Ability to Bounce Back: Years ago I literally was bucked off a horse. While battered and bruised with a black eye, a famous quote came to mind, “When you fall off a horse, you have to get right back on.”
If you don’t get back on the proverbial horse the fear of getting bucked off again will overtake you and will never ride again. Successful advisers are very resilient and they learn from their mistakes.
Finding Your Own Greatness
Obviously, there are many key qualities that help characterize those who are successful but find a few, like the ones above and focus your energies on fine-tuning them.
If you read this article and need help defining and focusing on some key qualities to ensure your success, email Melissa Denham, director of client servicing at firstname.lastname@example.org to schedule a free complimentary consultation.
Daniel C. Finley
St. Paul, Minn.