I'm POSSIBLE

Starting a career in the financial services profession can be challenging for newcomers, but success is possible with the right mindset, support, and guidance. In this article, I will touch on some tips that can help enhance the success rate for newcomers in our profession.

Firstly, deciding if being a financial advisor is a job, career or passion is essential. The financial services profession may not be the best fit if it is only a job.

Secondly, it is vital to understand and appreciate your country's financial services regulations, compliance, and general code of conduct and ethics. This will help you to navigate the profession and make informed decisions.

Thirdly, you need to understand the products you will be working with and give first-class advice, including financial planning where appropriate and possible. Only use suitable products that are not only remuneration-driven for your client's needs. Products have to be a consequence of advice, not the other way around.

Fourthly, it is imperative to educate yourself and ensure continuous professional development on an ongoing basis. Learn from your mistakes and amend and adapt quickly to the best advantage of your clients and our profession. If you are uncomfortable or uncertain, make use of joint-field work through available support systems and experienced senior advisors. With the virtual, it has become much easier now.

Fifthly, it is essential to find a mentor as soon as possible within your company, our profession or through affiliation mentorship programs. A mentor can provide guidance, support and advice as you navigate your career.

Sixthly, financial planning should take priority at every opportunity, and reputable financial needs analysis tools should be adopted early on. Never become an assurance salesman selling or flogging policies with no regard to the long-term needs of your clients.

Seventhly, keep advice simplistic and straightforward. Drop the bells & whistles to impress clients, as you will go over their heads and lose the real impact of financial planning. Technical jargon is always a no-go.

Eighthly, get away from cold calling as soon as possible by building a network with the centre of influence by always doing the right things for the right reasons and with the proper outcomes. Turn your clients into advocates, so they do introductions.

Lastly, please stay away from emotionally based selling and always focus on the best interests of your clients and our profession.

In conclusion, starting a career in the financial services profession can be challenging, but with the right mindset, support, and guidance, success is possible. Remember to always adhere to regulations and ethics and understand the products you work with, continuously educate yourself and seek out mentorship, prioritize financial planning, keep advice simple, and avoid cold calling and aggressive selling techniques. By following these tips, you can become a professional planner and contribute to the professionalization of our profession.