Are you ready to take the next step in your career as a financial advisor by either leaving your broker-dealer to go independent or making your already established independent firm more profitable? One of the keys to taking whatever the next step in your journey might be is surrounding yourself with the right people. This includes a group of mentors who can provide support and guidance, an inner circle that is supportive and enthusiastic about your goals, and a business coach who can personally relate to your journey and help you every step of the way. If you don’t have a business coach, you’re missing out on one of the greatest sources of motivation and insight an entrepreneur can have.
Why a Coach is Important
There are a lot of traps an independent advisor can fall into, such as not running their business like a business, getting too personally involved in their clients’ lives, and not thinking big enough to facilitate growth. And as everyone knows, it can be pretty tough to spot your own blind spots. A coach can do that, which is just one way they provide value. Here are a few more:
They provide a third-party perspective Coaches don’t “have a dog in the fight” when it comes to your business, unlike your friends, family, and business associates. Your coach will give you unbiased advice and guidance that is based 100% on what will help you succeed.
They are dedicated to your success A coach works for you. That means it’s their job to help you succeed. Though mentors, colleagues, and friends can all be helpful when it comes to growing your business, they all have other jobs (and families, projects, etc.) that inevitably take priority.
They have proven strategies of helping clients grow The good coaches have strategies that have worked with others in your position. Why make common mistakes that are easily avoidable when you have the right strategy in place? A coach can help you with this.
They have access to resources you don’t Most coaches are well-connected to other professionals who could benefit you, programs you normally wouldn’t have access to, and other resources that could prove to be a game-changer in growing your business.
Why Your Coach Should Be an Advisor
To really achieve success as an entrepreneurial advisor, you need to find out how to put your business GPS on autopilot so you’re not involved with every day-to-day task and can instead focus on growing your business. While a coach can help you to some extent, it really takes someone who has had experience in the financial industry to understand what you need. Not only will a coach who is an advisor be able to help you learn how to turn your firm into a money-making machine, but they’ll also be able to help you learn how to be a better financial counselor to your clients and create the type of independent advisory business that best fits your unique style. There are many perks to being an independent advisor, and a coach who’s been there has personalized knowledge of how to take advantage of those perks while still serving clients at a high level.
Coaches who are also financial advisors also understand that your time is precious, which is why some of them (like me) offer plenty of options to connect. Through our Advisor Academy, you can connect with me via social media, through group calls, and in one-on-one sessions. Want to know more? I’d be happy to chat with you about why I should be your coach!