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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You Are Not Paid to Be Right All the Time

Don Connelly audio podcast

As the markets become more and more complex, keep in mind that not everything you recommend will work out. It’s okay to feel badly when something doesn’t work. It’s not okay to feel guilty.

One problem with feeling guilty is that we tend to doubt ourselves. Your clients don’t deserve that. They desperately need you to have confidence in yourself. Have an opinion and be there for them. That’s hard to do when you feel guilty.

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