In a recent group coaching session, a veteran financial advisor was discussing his lack of motivation and constant frustration with the industry. His deflated attitude had become a common one and the rest of the group was weary of hearing it. This eventually resulted in one brave peer and colleague posing the obvious question: ‘Why are you in this business anyway?”
Momentarily silenced, the veteran humbly admitted, “I don’t know.” He hesitated…then continued complaining about the aspects of his practice he didn’t like, the recent loss of his assistant, etc.
Does this scenario sound familiar? Have you ever felt this way? If so, rest assured that you are not alone. Many financial advisors feel overwhelmed at some point in their careers. What can we do when this happens? Put passion back into your processes.
Understanding Your Passion
The first step on the road to recovering the passion in your practice is to remember the reason you got into the business in the first place. You may have always had a passion for investing, or a desire to start your own business, or maybe it was your own personal experiences towards money that drove you to wanting to work in financial services. As you you seek the answer, you may also find that, deep down inside, you simply enjoy helping people.
Translating Your Passion
Once you realize why you are working in this field, it is important to translate that passion into the on-the-job feelings you experience.
Let’s use the example of “helping people.” Helping people accomplish their financial goals is rewarding, satisfying, and makes one feel accomplished. This process allows you to identify which emotions are most likely to motivate you. When times are difficult, just remind yourself that the reason you are in this business is to help people and the reason you love helping people is because it makes you feel “X”.
Communicating Your Passion
It has been said that “communication is the lifeblood of every great relationship”. In this business, building and maintaining healthy relationships with prospects and clients not only helps you survive, it helps you thrive!
So why is communicating your business passion(s) so crucial? Letting your clients and prospects know the fulfillment and satisfaction you receive by simply working with them can do nothing but strengthen the relationships.
One of the ways to communicate your passion is by using an “attitude of gratitude” — taking a moment to offer your appreciation to your clients. Then, watch what happens next. Clients will immediately feel more connected to you simply because you have opened up and explained the passion behind your practice.
The ripple effect of this conversation is that your clients will most likely share their passions with you. This allows for a complete circle of communication.
As this year ends and a new one begins, ask yourself, “Is there passion in my practice”? If the passion exists, be sure to keep the embers burning brightly. If the passion has waned, it is time to re-ignite it before your business burns itself out.
If putting the passion back into your practice is something you need guidance with, email me at firstname.lastname@example.org to schedule a complimentary 30-minute consultation.
Daniel C. Finley
Advisor Solutions Inc.
St. Paul, Minn.