Why It’s Vital to Join the Community of Financial Advisors

Why It’s Vital to Join the Community of Financial Advisors

“No man is an Island, entire of itself.” That excerpt from a 17th-century sermon given by a man named John Donne has become a popular proverb that describes the inherent connectivity of humankind. In essence, it says that humans cannot get along with their lives and succeed on their own—that we are all dependent on other people for support.

If you can imagine a conversation between two people, one of whom has ambitions of becoming a financial advisor, it might sound something like this:

First person: When I leave school, I’m going to start a financial planning practice.
Second person: That’s great, but how are you going to do it by yourself?
First person: I don’t need anyone else; I can do it alone.
Second person: No man is an island; you’ll need someone’s support at one point or another.

While that actual conversation may have never taken place, it’s no secret that many people who set out to become financial advisors do so because they like the idea of being independent. But it doesn’t start out that way. Most of us started our careers as trainees thrown together with other trainees to learn the business, typically by reading manuals or attending formal classroom presentations.

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Three Challenges Advisors Face in the Post-Pandemic World

Three Challenges Advisors Face in the Post-Pandemic World

At the height of the COVID crisis, financial advisors were confronted with unthinkable challenges. All things considered, the industry has been resilient in the face of unprecedented headwinds. But, as the other side of this crisis begins to come into view, the industry faces a significant shift that will shape the way advisors operate long after the pandemic wanes. Advisors who get in front of that shift and adapt to the new paradigms quickly will not just survive; they will thrive.

If you could capture clients’ general mood today in one word, “anxiety” would probably say it best. In their hearts, minds, and souls, it’s a very different world from just a year ago and, as much as we all hope for a return to normal, there may be no going back for clients. Their perceptions and priorities have forever changed, much like they did during the 2008 financial meltdown. Only this time, it’s different because it involves both financial and health risks.

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