Essential Working Habits to Ensure Your Success as a Financial Advisor

Essential Working Habits to Ensure Your Success as a Financial AdvisorIn recent posts, we have outlined why financial advisors must master critical habits for prospecting, calling, and selling, without which success can be elusive. However, while you may identify as a financial advisor, you are, first and foremost, a businessperson. You can have all the best habits for prospecting, calling, and selling, but you need to have the vital working habits of a successful businessperson or entrepreneur to help you in the long run.

If your business lacks direction or you can’t manage your time effectively, you are essentially practicing your craft on borrowed time. Without self-discipline and a results-oriented mindset, you’ll be less likely to progress to the next level. These are just some of the working habits that, when mastered, make it possible to exercise the revenue-generating practices of prospecting, calling, and selling to the greatest extent possible with much better outcomes.

To succeed as a financial advisor, you must create a sustainable business that supports your efforts to grow your clientele. These are the crucial working habits any businessperson must master to be successful.

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#1. Become goal-oriented

Successful advisors are obsessed with goal setting. They have a clear vision of what they want to achieve and establish written goals broken down into long-term, annual, quarterly, monthly, weekly, and daily milestones. Well-defined goals are powerful motivators and help to direct your efforts to achieve the highest level of productivity. However, if your goals are not quantifiable, measurable, and time-specific, they are less likely to be achievable.

#2. Develop written action plans

If you don’t have a plan for achieving your goals, they’re nothing more than pipe dreams. Successful businesspeople have a detailed plan for each goal they set with measurable objectives, clear action steps, and timelines. Many work from a well-crafted, general business plan to create detailed action plans to guide their monthly, weekly, and daily activities.

#3. Be results-oriented

Goals are set to be met. If you fall short of your goals, you need to know why and make the necessary adjustments to your plan. Successful advisors are accountable to themselves, measuring their activities and results to see if their plan is working. It’s essential to review your results frequently and ask hard questions such as:

  • Am I on target to reach my goals–why or why not?
  • What’s working – why or why not?
  • What isn’t working – why not?
  • If it’s working, what can be done to improve results?
  • If it’s not working, is it the wrong idea, or have circumstances changed?

Getting to the answers will help you narrow your focus to the vital issues driving your plan’s success or gumming up the works.

#4. Become action-oriented

The biggest dream killer for financial advisors is procrastination or spending too much time getting ready to get ready. Successful advisors fervently attack their goals each day, not allowing any distractions to interfere. They don’t waste time and work with a sense of urgency. Most importantly, they stay focused on their goals, stick to their plans, and constantly assess their results.

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#5. Become self-disciplined

The one habit that almost guarantees you can master all the others is self-discipline. It’s the one habit shared by all the most successful entrepreneurs. Self-discipline keeps you focused on your goals, ensuring you have a plan to achieve them and keeping you in control of the outcome.

Self-disciplined people are also self-critical, always looking for ways to improve themselves by learning new things, asking for feedback, and holding themselves accountable. Self-disciplined advisors eat distractions for breakfast and don’t allow excuses to derail them.

#6. Become health conscious

The quality of your health can not only dictate how much you can accomplish on a daily basis but also your longevity in the business. You can’t get very far in this business without abundant energy and a clear mind. Key factors in maintaining high-quality health include:

Getting enough sleep: People function best when they are well-rested. Getting enough sleep is critical to your energy level, memory function, and creative thinking.

Rising early: Successful people set their alarms early to allow time to exercise, eat a healthy breakfast, work on personal projects, and plan their day. They avoid being rushed and frantic before work.

Exercising regularly: Studies show that regular exercise is a critical source of your daily energy and acts to clear your mind and rejuvenate your attitude.

Practicing self-reflection: Another reason for rising early is to allow time for self-reflection. Taking fifteen minutes in the morning to think in isolation about what’s going on in your life, or for meditation, is a proven stress reducer.

Regardless of the business you’re in, these work habits are critical to your success. However, for financial advisors, they are crucial as the foundation upon which to build the essential prospecting, calling, and selling habits you need for greater productivity.

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  • Susan Klein /

    Thank you! Getting enough sleep is a very important one, undoubtedly. I would also recommend getting a printable calendar or a time-management app, whatever you choose, to track your schedule and organize your day in the most beneficial way. After being a fan of Google Calendars for many years, I have found Bordio, which simplified all of my tasks in a major way. I highly recommend you to try out some time-management apps, maybe it will also help you.

    • Thanks for reading and for joining the conversation, Susan, and for sharing the tool you have found.

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