Sorry to say, it is not necessarily the additional designations acquired (though they may help validate a client’s decision).
Clients make a decision based on whether they like you and trust you. They don’t even understand what the designations mean. What is important is getting those designations to help hone your skillset as a financial advisor, which of course is important. Now is a good time to start.
Here Is What matters most To Be A Successful Financial Advisor:
Being Likeable:
Are you likeable? How would you even know if you are likeable? Most of the time, the traits that relate to being likeable are unconscious to you. Don’t bank on your friends to let you know if there are any traits or behaviors about you that reduce your likability score. They may want to protect your feelings.
Being Trusted:
I know this is not a shocker to you because we have mentioned it in previous articles. Trustworthiness is another ‘invisible’ trait. If you have a dog, you will notice that they ‘sniff’ out other canines to determine if they are friend or foe. Humans do this as well – once again, under the bar of consciousness. The first few seconds you meet someone, they are sizing you up, or um, sniffing you out to determine if you can be trusted. One tiny twitch of the nose, scratch of the head or bead of sweat on your brow and you might be marked ‘untrustworthy’. Establishing trust and rapport with someone prior to diving deep into business will help you build upon the trust factor.
Continual Growth (Personal And Professional):
Successful financial advisors are constantly engaged in training or coaching of some kind. They are always working ON themselves and ON their businesses.
Get Out Of The Office (And For As Long As Possible):
High net-worth relationships as well as the more rewarding (enjoyable) clients are most often met outside the office. Your office is for managing and administering business. Building and growing your business happens most effectively OUTSIDE the office, whether it’s on the green or at the gym.
They Are Driven To Succeed – Very Goal-Oriented:
Just about all of us are motivated to pay our bills, put food on the table and a roof over our families’ heads. There are some people in the business that have a deep need to hit goal after goal. After your business pays all the bills, do you know what drives you as a person?
Process Oriented / Strong Systems:
Scale always becomes a challenge in any business. Being able to continually grow your business without sacrificing service to your clients requires clear processes and a strong team to carry them out. Most often, an accountability coach can help you stay on top of your game.
Solid Team Of Other Financial Advisors And Support Staff:
This helps carry out the systems and structures in your business that adds a level of service that will create the confidence of your clients to refer you to others. Servicing issues and delays create doubt in your ability to manage things (including their money). Servicing issues can be very costly in terms of both fines and relationships.
Guide Their Clients Confidently:
When you are clear about the value you provide your clients, you will guide them confidently. Clients look to you to be an important guide. If you lack the confidence in your ability others will as well. Afterall, why would they trust you if you don’t deeply trust what you are guiding them on.
What may be in the way of the success you hope to experience is likely not what you think it is.
There is no lack of information and strategies available today. In fact, you have likely been exposed to the hundreds of them at conferences and meetings. You have access to the very same tools (strategies) as the biggest producer in your region, so what’s the difference? Twenty-five years into this business and it is more apparent than ever to us that real success comes from enhancing the performer to more effectively use the tools available. Enhance the player; you enhance the game.
