Looking back over the last 38 years of my career, I feel tremendous pride in the insights I’ve gained along the way. Through mistakes, milestones, and experiences, each has taught me powerful lessons that have shaped how I operate Client 1st Financial. Here are some of the key takeaways:
1. Don't Take Shortcuts
Since I’ve been doing this for over 30 years, I’ve witnessed many people taking shortcuts, and it almost always leads to mistakes. Shortcutting not only tarnishes your image as a financial advisor, but it also gives our industry a bad reputation. And that reputation doesn’t just affect you. Handling people’s finances is a sensitive matter, one that should be handled with respect, discernment, and trust. If you’re known for using shortcuts, it makes clients reluctant to work with you because they want transparency. Be complete and thorough when working with clients, and while skipping shortcuts may take more time, the end result is always worth it.
2. Be Compliant
Compliance is huge. Some people view compliance as a way to prevent advisors from moving forward, but to me, it provides a structured guideline for what I have to do and how to do it right. I’ve heard plenty of excuses like “it can be complicated” or “it’s tough to bother people,” but in the long run, wouldn’t you like to work with an organization that takes the extra step to get it right?
If you end up losing a client sale because they don’t want to be compliant, that’s okay. Sometimes the best things that ever happen are the cases that you never get. It’s better to do right by your business and current clients by following the rules.
3. Don't Give Up
While I’ve celebrated many wins throughout my career, I’ve also faced setbacks and losses. It's tough, but it’s important not to be discouraged. Accepting 'no' as an answer and not taking it personally are two key factors that will set you up for success. Remember not to get caught up in those moments, and while getting turned down may hurt, look at the bigger picture. Focus on working hard, remember your plan, and stick to it. We all know that every week won’t be sunny, but if you just keep going and believe in yourself, you’ll be amazed at how far you’ll go.
These lessons have shaped me into the financial advisor I am today, and as I think back to when I first started out, there are some strong pieces of advice I would give myself and other young advisors.
To those who are just beginning their careers, don’t constantly change your plan. It’s normal to try new ways of doing things, but when it doesn’t work right away, instead of immediately changing and moving on to the next thing, be patient. Growth and change take time, and they certainly don’t happen overnight.
Another piece of advice I’d recommend is not to get too caught up with designations. While they’re great for showcasing your accomplishments, and I’m proud of the ones I’ve earned, they don’t always equate to success. I know plenty of people in the industry who I trust and work with frequently, and they don’t have a ton, if any, designations. Your relationships and experiences are more important; they will shape you into a successful financial advisor more than any credential will.
And finally, I highly recommend finding a mentor. Working with a mentor can offer tangible advice and ideas that you’d never find in a textbook. Look for someone with a good practice, someone who’s willing to help you (not do it for you), and someone who is willing to invest the time in guiding you in a positive direction. Those relationships are highly valuable for professional and personal growth in your career.
Through it all, one common theme rings true: take every moment as an opportunity to learn and grow. While the past 38 years have taught me a great deal, I’m eager to keep evolving to better serve my clients and their financial futures.