7 Lessons I’ve Learned Listening to Top Advisors
Lessons I’m personally implementing to continue growing professionally
Over the last few years, I’ve had numerous opportunities to connect with and learn from incredible wealth managers. They’ve ranged from local leaders to nationally ranked advisors, and each has shared valuable career advice. Today, I want to share 7 lessons that have shaped my approach and mindset.
Be the CEO of Your Career
One of the greatest messages that has resonated with me is this: no one will hand you an opportunity. As a young professional, it’s up to you to proactively seek opportunities and advocate for yourself at every stage.
Think about it like college. The goal is to take courses that align with your degree while also checking off those general education classes that always make you wonder why. You’re encouraged to meet with counselors, but ultimately, it’s on you to make sure you’re on track.
The same applies to involvement. If you don’t take initiative, it won’t happen. Set specific career goals, envision where you want to be, and determine what steps you need to take now to get there. You are the conductor of your own life.
Take Your Time, but Learn Fast
Many successful advisors didn’t rush into building their book. They took time to develop technical expertise, planning skills, and relationships, patiently building credibility. They sought mentorship and experiences that would elevate them. Only when they felt truly ready did they take the leap, confident and prepared.
It’s important to learn as much as possible, as quickly as possible. But when it comes to taking the next step, ensure you have the knowledge and readiness to succeed. Seek mentors who can be honest with you about your progress.
Specialize Early, but Stay Flexible
As an advisor, it’s important to develop a niche and start becoming a specialist rather than trying to be everything to everyone. But when you’re just starting out, keep an open mind. Explore different areas, stay curious, and see where you can add unique value to your team or firm.
Eventually, you’ll find an area you enjoy and where you can make the greatest impact. That’s when it’s time to dig in and truly specialize.
Pick a Team or Firm That Aligns with Your Values
Choosing a team or firm that aligns with your long-term career goals is more important than rushing into the next opportunity without clarity.
If you’re considering a team or firm, have the important conversations upfront:
What are the expectations?
Where will this role lead?
How will you be compensated?
What’s the development plan?
How can you add unique value?
And don’t overlook personal connection. If you don’t feel aligned with the people you’ll be working with, it may not be the right place for you. Both parties need to be clear about expectations and goals before moving forward.
Planning Skills Differentiate
Deep planning knowledge is essential especially for those who aspire to become advisors. Today’s clients expect a comprehensive approach into their financial lives, not just investment advice.
Developing strong planning skills early will differentiate you from other advisors who may focus solely on investments.
Your Work Ethic and Presentation Are Your Brand. Protect It.
We all know people who’ve built reputations good or bad that follow them. Maybe they failed to follow through once, and now that’s what others expect of them. Even if they change, it’s hard to shake that impression.
Wherever you are in life, it’s beneficial to be known for a strong work ethic and professional presentation. As a future advisor, this can make the difference between landing the next great opportunity or not.
Leave positive impressions on coworkers, managers, potential clients, and even casual acquaintances. You never know where future opportunities will come from. Build a reputation for working hard, following through, and maintaining professionalism. Then protect it.
Build a Process
This one resonates deeply with me. Without a process, you have no clear direction, and you won’t operate as efficiently as you could.
Top advisors succeed through repeatable systems, whether for personal growth, prospecting, marketing, or even shaping team culture.
In your own career, envision where you want to be and reverse engineer the steps to get there. Find mentors who’ve walked the path. Track weekly goals and progress. Stay on course but also be open to change if you discover a better path.
A plan gives you direction. You won’t have to guess you’ll know what needs to be done.
Final Thoughts
Take these 7 lessons and reflect on where you stand with each. Decide where you might need to improve or what you could implement in your life and career. Find mentors who have achieved what you aspire to and seek their advice.
Most importantly, enjoy the process. Growth isn’t just about the destination the journey can be just as rewarding.
What career lessons have shaped your journey? What advice do you have for the next generation of wealth management professionals? I’d love to hear from others in the comments?
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