Lessons from 20 Years in the Business
While completing my annual disclosure for my firm earlier last month, I realized that this December marks 20 years in the industry for me! I entered the financial services industry at the ripe old age of 22 – fresh out of university and ready to tackle the world! Sitting at my desk (now ergonomically designed to ease back pain), writing this blog post 20 years later, it’s a great celebration of years of experience and many lessons along the way.
Recently, a newly licensed advisor asked me for my top three tips on success in the industry. I studied her with fond curiosity and remembered the days I’d pose the exact same question to my industry seniors; then chuckled, because to this day, I still do!
If I have observed patterns in the industry over 20 years, they’d be as follows:
- Listen, listen, listen. Listen again. Ask questions. Emotions play a HUGE role in investing – the best thing you can do for your clients is try to understand the emotional constraints they have and help them position their portfolios to best meet their needs.
- Speaking of needs – they keep changing. A financial plan is a great roadmap but unlike a real map, this one will change constantly. The best thing you can do is keep up with changes in your clients’ lives, and ensure they are reflected in the work you do for them.
- Enjoy yourself. Being able to position yourself as a trusted advisor to clients is such an important role. This is a wonderful industry and the satisfaction you get from a client’s heartfelt “Thank You” is second to none.
In addition to the conversation that sparked me to write this, I want to take this opportunity of celebration to pause and thank my mentors and my colleagues. Most importantly, I’d like to thank the clients who have put their faith in me for the last 20 years and continue to do so. Some of these folks have been in the practice prior to me, so they’ve been there with me through many of my own life’s milestones. I do not take these relationships lightly and look forward to celebrating more milestones in the future and blogging at my 40th anniversary in the industry. To a good financial future!
