What’s The Greatest Cause of Burnout among Financial Advisors

A Blueprint for Aspiring Million Dollar {Producers to Follow - AskDON

Here’s a question I received from Ricardo in Portugal. He’s writing about burnout with an interesting question.

What’s the greatest cause of burnout among advisors in the United States?

I think that actually is very easy to answer. Whether it’s Los Angeles or Lisbon, it doesn’t really matter.

Listen to the audio or read the transcript below to learn what Don thinks the greatest cause of burnout among Financial Advisors is.

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Take Back Control of Your Financial Advisor Career

Take Back Control of Your Financial Advisor Career

If you feel your career is at a crossroads, or that things are not going your way you need to adapt your attitude and learn to make better decisions. In the words of the late Earl Shoaff ‘Don’t wish it were easier, wish you were better. Don’t wish for fewer problems, wish for more skills”.

The only thing holding you back in life is you. You alone determine your future, not the outside world. So, if you don’t like where you are – get in the driver’s seat and take control.

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Weekly Focus: Goal Setting

Don-Connelly-Associates

The beginning of a given year is the time to rewrite our goals, our mission statement and our business plan. For some of us that will involve a major overhaul and for some of us it will involve a tweak. For all of us, it will be a thought-provoking experience. Goal setting comes first. Decide what you want to accomplish and write it down. Set a date by which you will accomplish each goal. If you were charged with running a twelve-minute mile and nobody posted a finish line, you would have no way of knowing if you succeeded. It’s no different with business goals.

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Take Action Now if You Want to Succeed as a Financial Advisor

Take Action Now if You Want to Succeed as a Financial Advisor

Financial advisors often fail or stay at a mediocre level because they procrastinate. They don’t understand that success requires looking to the future, setting goals and working hard to achieve those goals. Instead many advisors think they can get by day by day on the bare minimum. Unfortunately, success doesn’t just ‘happen’. No matter how talented you are your star won’t rise unless you get proactive about growing your business.

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Getting Back on Track

Don Connelly audio podcast

I’m often asked what I read. One of the things I read is the Motivational Manager. They once reprinted an old treatise written by Harry Joiner at ecommercerecruiter.com called – “Before you apply for your next job”.

The title of the Motivational Manager article is simply “Disengage autopilot and take control of your career”. I think it’s really important for advisors to hear this.

It goes on to say that Harry Joiner was an executive recruiter. He meets about a hundred and fifty candidates a week and 90% of those professionals share the same failing – they’re clueless.

He said that most are well educated, and some may even be considered accomplished.

But they have a blind spot where their long-term career vision should be.

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How to Become a Successful Financial Advisor

How to Become a Successful Financial Advisor

There are lots of average financial advisors out there, but very few great ones. And it may surprise you to learn that those that do get to the top rarely get there on talent alone. Successful advisors do however share certain attributes and have a work ethic that marks them out. They have a clear vision, work hard and never stop developing their skills.

Here are five things you must do if you want to be a successful financial advisor.

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It’s All about Your MVA

Most Valuable Activities for Financial Advisor - Business Growth

Why isn’t my business growing like I want it to? Why has my business plateaued? Why am I working so many hours but not growing my firm? These are several of the questions that I get from some of the financial advisors that I have coached. These advisors have become frustrated that their businesses aren’t succeeding as they want. Although they have been in the business for more than 5 years and have achieved some success, they still want to grow.

When I hear these questions, or comments, I begin to do some probing.

I become very curious as to how these advisors spend their time. I am specifically looking to determine what these advisors do on a daily basis.

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