Overcoming the Age Bias Prospects Have About Young Advisors

Overcoming the Age Bias Prospects Have About Young Advisors

For young financial advisors, nothing is more challenging than overcoming the age bias that older clients have against them. I hear it often from advisors who come through our training programs—that feeling as though they are viewed more like a child or grandchild than a financial advisor. It creates a perceived impression that young advisors don’t have the experience, skills, or knowledge to appreciate the circumstances of older clients, let alone guide them in making critical financial decisions.

That may be understandable and, in some cases, deserved. Older prospects are right to question a young advisor’s experience and depth of knowledge. But the problem may not be with the perceptions of older clients as much as it is with the mindset of younger advisors. Most advisors have gone through that painful period of not knowing what they need to know and feeling embarrassed to meet prospects who may sense that.

The primary difference between where they are now compared to where they were back when they knew less and lacked experience is confidence.

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Self-Confidence Will Make You Unstoppable

From Don Connelly Blog - audio post

I was speaking at a Financial Services conference in Australia and heard an insurance company CEO issue a provocative challenge to the audience members.

“If you stand on any street corner in Sydney and ask everyone who walks by to buy life insurance, every eighty-fifth person will. The questions is, do you have what it takes to hear the word ‘no’ eighty-four times in a row?”
The failure rate in the Financial Services industry is north of eighty percent.

This industry hires a small fraction of the people who apply. We provide good training, good products and good internal and external support. Yet most fail. And they are good people who got hired for good reasons.

Lack of self-confidence doesn’t mean lack of ability.

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