Are you trying to build your independent financial advisor business and looking for a coach to help you along the way? Or do you already have a coach and wonder why he or she isn’t helping you achieve the goals you set out for yourself? As a coach who has helped hundreds of advisors over the course of my career, I’m here to tell you that if you’re not working with a coach who is also a financial advisor, you’re basically screwed. Here’s why.
A coach who is a financial advisor will help you act like a business owner
If you’ve worked for a large firm for a number of years, you’ve probably developed some bad habits. One of those is seeing yourself as a salesperson rather than what you are: a business owner. A coach who is also an advisor will help you spot these habits and mindsets that aren’t serving you and adjust them so they are more in line with your goals. If your coach has no experience in the financial field, he or she is likely to miss common red flags that are easy to spot for a coach like me who has been in your shoes.
A coach who is a financial advisor has an insider’s point of view
As someone who has been in the financial planning trenches for most of my career, I’m aware of what most advisors have been trained to know (and not know). I’m also aware of their blind spots that occur because the big firms haven’t exposed them to certain things either intentionally or unintentionally because of how their training process works. There’s a reason why all financial advisors tend to sound alike, and a coach who has experience in the industry can show you how to forge your own path and stand out from the crowd.
A coach who is not a financial advisor will take a sales approach
Coaches who specialize in helping people grow their businesses most often take a sales approach—something that doesn’t work in the financial planning industry. When you work with a coach who has experience as a financial advisor, you will get expert guidance on how to handle the soft side of sales. This includes learning how to listen to and communicate effectively with your clients, how to talk to your clients about your fee structure, and understanding and managing potential triggers that may cause your clients to make rash decisions.
A coach who is a financial advisor will help you create a business that serves you
Too many entrepreneurs (and their coaches) have bought into the hustle culture and believe that the key to success is working longer and harder than anyone else. However, when independent advisors attempt to do this, their business ends up running them instead of the other way around. A coach who has experience as an advisor will help you create a business that is in line with your values and desired lifestyle and that serves you. This could mean working from home so you can spend quality time with your kids or arranging your schedule so you can travel one week out of every month. A coach who is an advisor knows what it takes to create a business that will be fulfilling and successful without sacrificing your integrity along the way.
If you’re ready for exponential growth in your independent advisory business, you need to work with a coach who has been in your shoes. I’ve been in the financial planning industry for over 20 years and I’m passionate about mentoring financial advisors to entrepreneurial freedom. Reach out today so I can help you hit the ground running in 2022.