Success as a Financial Advisor Is Easy to Explain, but Difficult to Replicate

The good news for every Financial Advisor is that how one becomes a Top Tier Advisor is simple. The bad news is that it is not easy. To rise to the top one begins by doing things right, by doing the right things and by working hard.

Listen to the audio episode or read the transcript below to learn a few steps you should take to succeed as a Financial Advisor.

Recommended Product to build a successful business – How to Excel in the Securities industry, 4-CD set – mp3 version to show you what Elite Advisors do that average advisors don’t do.

We lose a lot of people in the first twelve months.

The reason they fail is that, for the most part, they don’t see enough people. Failing to book several appointments each week is not doing things right, is not doing the right things and is not working hard enough.

The next simple thing is to master and stick to the basics.

We lose more people here. The reason they fail here is that they don’t create and stick to a repeatable process. They lack the requisite blue collar heartbeat. They don’t have good habits. Here’s Aristotle one more time:

We are what we repeatedly do. Excellence, then, is not an act, but a habit.

Now one must hone one’s relationship building skills.

You can’t manage someone’s money until you’ve earned the right to do so. People do business with people they trust and they can’t trust you until they know you. We lose even more Advisors here. They open up accounts and move on toward the next prospect. The new client is caught in the jet wash. Lack of communication breeds lack of confidence and lack of confidence spells doom for the relationship.

Added to all this is self-motivation.

We lose a ton of folks here. You have to believe that you deserve success and that is no small task. You have to cope with rejection. You have to pick yourself up out of a slump. You have to choose to be optimistic. You must be enthusiastic. Your passion must be obvious. Nobody wants to deal with an Advisor who’s in it strictly for the money. Failure isn’t about falling down. Failure is about staying down.

So we see that going to the top is quite simple.

Be likeable, be trustworthy, and create and stick to your plan. Don’t worry about what you can’t control. Control your behavior.

There is only one thing holding you back. The elevator is broken. You have to use the stairs.

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  • Andrian /

    Hello Don,

    I would like to thank you for your help with publishing the material for financial advisiors. From what I am following constantly on the net about finance consultancy is your ideas, that are spot on. Thanks, Andrian

    • Diana /

      Thanks for your comment, Adrian! Don greatly appreciates all feedback and we are glad you find his advice and guidance helpful. Stay tuned for more useful tips!

  • Hello Don,

    I am an adviser in Australia in my mid 30’s and started my own business 18 months ago.

    I see the biggest problem now days for my generation of advisers is that we are bombarded with how to be a great technician and never educated on how to build great communication and relationship skills. These forgotten arts seem to have been lost from the generation before me.

    I think these skills are what separates the mediocre from the exceptional.

    Thanks for all the thought provoking ideas Don. Extremely valuable.


    • Diana Marinova /

      Hi, Ben! Congrats for running your own business for 18 months now – every beginning is tough! Realizing hard skills are not enough but soft skills is what you need to succeed is a big step – it’s great that you have made it. I will pass along your greetings to Don – he always appreciates feedback!

      Thanks for allowing Don to play an important role in your business and in mastering the basics!


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