/ by Don Connelly / Best Practices / 0 comments
For challenging endeavors in which people seek to achieve a level of performance beyond their current capacity – such as sports, weight loss, or running a business – they have a better chance of getting over the top by working with a coach. Even successful business executives and sports figures recognize the significant gap that separates a plan from action, theory from practice, and activity from results.
For most people, it often takes an external force to push them beyond their comfort level. That’s what a coach does. The top athletes in the world hire a team of coaches because they know they can’t get to the next level without them. In complex and vital endeavors, we could all use a coach to keep us detached from our emotions and accountable to our goals when our discipline fails.
Ask any professional athlete, corporate executive, or entrepreneur why they hire a coach, and they’ll tell you they want to increase their earnings by improving their performance. It’s no different for financial advisors.
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The Paradox of Financial Education: How Too Much Knowledge Can Cost You Clients
/ by Don Connelly / Best Practices / 0 comments
Financial advisors constantly walk a tightrope between empowering clients and overwhelming them. While financial literacy is crucial for informed decision-making, overeducating prospects and clients can backfire, resulting in the loss of an account. This phenomenon can be better understood by examining the psychology of financial decision-making and the delicate advisor-client relationship.
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Why Financial Advisors Need a Coach
/ by Don Connelly / Best Practices / 0 comments
For challenging endeavors in which people seek to achieve a level of performance beyond their current capacity – such as sports, weight loss, or running a business – they have a better chance of getting over the top by working with a coach. Even successful business executives and sports figures recognize the significant gap that separates a plan from action, theory from practice, and activity from results.
For most people, it often takes an external force to push them beyond their comfort level. That’s what a coach does. The top athletes in the world hire a team of coaches because they know they can’t get to the next level without them. In complex and vital endeavors, we could all use a coach to keep us detached from our emotions and accountable to our goals when our discipline fails.
Ask any professional athlete, corporate executive, or entrepreneur why they hire a coach, and they’ll tell you they want to increase their earnings by improving their performance. It’s no different for financial advisors.
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3 Strategies Advisors Are Using to Break Through Stagnation to Get to the Next Level
/ by Don Connelly / Best Practices / 0 comments
“I feel my team and I have reached a stage of stagnation. How can we build on what we have and continue to grow the business?”
That sentiment is becoming a common theme among many of the advisors who enroll in our workshops and training programs. I can also attest that it is pervasive throughout industry, which means it happens to most every advisor or advisor team. Regardless of what stage you’re in, you can do all the right things to move through that stage and then realize that what got you to that point isn’t enough to get you to the next level. So, you stagnate. And you know that in this business, if you’re not deliberately moving forward, you’re actually falling behind.
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Only Elite Advisors Step Out of Their Comfort Zone—Do You?
/ by Don Connelly / Best Practices / 0 comments
It’s human nature to seek comfort in familiar habits and patterns. When anything comes along to threaten the status quo, we naturally feel uncomfortable, even anxious. Most of us will take great pains to cling to our comfort zone just to avoid those feelings, rejecting change and its unpredictability. The inevitable result for many people is to languish in predictable mediocrity. While they may feel safe, they eventually slip into obsolescence.
In the financial advisory business, if you are not constantly working at getting better, you are getting worse. That’s because successful advisors always strive to improve, to find ways to perfect their craft, which often requires breaking from familiar habits and stepping outside their comfort zone. They know that if they continue to live inside their complacency zone and do what they’ve always done, they’ll continue to get the same results. As a financial advisor, that is ultimately a formula for failure.
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To Be The Best Financial Advisor You Can, It’s Essential to Challenge Yourself
/ by Don Connelly / Best Practices / 0 comments
There are two paths you can follow in your career: One that goes uphill or the easy one, which involves simply getting through the day. Not many people take the steepest and hardest path, which is why so few really achieve success. But if you’re prepared to challenge yourself and commit to hard work, practice and persevere, you will maximize your talent and do what unsuccessful people are not willing to do.
So, step out of your comfort zone and start creating your own success story. Here are a few important self-challenges.
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