February 12, 2024 / by Don Connelly / Best Practices / 0 comments
It’s estimated that nine advisors out of ten don’t last three years in the industry. That seems high for a career that offers so much promise and potential. Most people come into the business checking all the appropriate boxes for having what it takes. Still, when you consider the gap between reality and expectations of fledgling financial advisors, it begins to make sense why most choose to leave the business.
To put it bluntly, not everyone is cut out for a career as a financial advisor, even for those who do check all the boxes. However, with a better understanding of why many financial advisors quit the business, you can beat the odds by avoiding that fate.
The reasons why financial advisors quit are varied, but here are some of the most common.
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Why Financial Advisors Quit
February 12, 2024 / by Don Connelly / Best Practices / 0 comments
It’s estimated that nine advisors out of ten don’t last three years in the industry. That seems high for a career that offers so much promise and potential. Most people come into the business checking all the appropriate boxes for having what it takes. Still, when you consider the gap between reality and expectations of fledgling financial advisors, it begins to make sense why most choose to leave the business.
To put it bluntly, not everyone is cut out for a career as a financial advisor, even for those who do check all the boxes. However, with a better understanding of why many financial advisors quit the business, you can beat the odds by avoiding that fate.
The reasons why financial advisors quit are varied, but here are some of the most common.
Read more
7 Things Many Financial Advisors Don’t Do, and Fail as a Result
June 17, 2019 / by Don Connelly / Best Practices / 0 comments
Much of the failure in this industry comes down to non-observance of the basics. Too many advisors fail not only to develop their soft skills but lack the necessary business acumen to remain viable. If you want to succeed as a financial advisor, learn from their mistakes and make sure you ‘do’ what they are ‘not doing’.
Here are some things that many advisors are not doing – but should be.
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Don’t Feel Guilty About Not Being Perfect
May 25, 2015 / by Don Connelly / Best Practices / 0 comments
There will be times when you get it wrong. Car mechanics and even doctors don’t get it right all the time and neither will you. Mistakes are easy to make and inevitable. As markets get more and more complex the chances of getting things wrong increase even more, and the longer you’re in business the more times you will be wrong.
But never see this as failure. Accept mistakes as part of life and keep on track by not feeling guilty. If you are doing everything you can with everything you’ve got you are a winner so you have nothing to feel guilty about.
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Asking for a Commitment
October 28, 2013 / by Don Connelly / Managing the Relationship / 0 comments
Mechanically, asking for a commitment is rather rudimentary. Why, then is asking such a difficult thing to do?
The inability to properly ask is perhaps the number one reason for failure in the Financial Services industry.
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