Top-producing advisors share key traits that set them apart. Success isn’t a fluke; it’s a result of deliberate actions and consistent habits. Just as a well-structured book has a clear narrative, a successful career is built on effective practices. Inspired by Stephen Covey’s The 7 Habits of Highly Effective People, here are seven strategies advisors can use to drive professional success at any stage of their career.
1) They Never Stop Learning.
Top earners are learners. The financial industry is dynamic, which means advisors need to be intentional about reading up on industry trends, compliance changes, and investor opportunities. Standout advisors make time for learning and growth each week. That could look like formal professional development in the forms of seminars, attending conferences, and reading trade publications. This dedication helps them become better rounded so they can provide clients with more informed advice and bridge the gap between a plan and results.
2) They Focus on Communication.
Open, consistent, and clear communication can inspire confidence and loyalty. High-achieving advisors put in the work to connect with their clients on a deep level. They know how to ask the right questions to uncover financial goals, assess risk tolerance, and craft a custom plan. They aren’t afraid to address tough questions or be challenged.
3) They Do the Right Thing.
Acting in good faith isn’t just a suggestion — it’s mandated by industry standards. RIAs know that even when no one is watching, they must display integrity, competence, and diligence. They should always do right by the client, even when there’s nothing for them to gain from the interaction. They take ownership for mistakes and pledge to do better next time.
4) They’re Adaptable and Resilient.
This career path can come with its share of curveballs. Successful advisors know how to pivot in the face of challenges like market volatility and economic downturns. They know when to quiet their ego and are adept at adjusting strategies to help their clients win.
5) They Let Their Goals Guide Their Work.
Just like clients have goals, every advisor should have a shortlist of goals they want to achieve this year. Revisit them regularly and adjust course as needed. Build in rewards to keep you motivated. Celebrate wins and don’t let setbacks detail you.
6) They Seek Inspirational People.
As the saying goes, you’re the sum of the five people you spend the most time around. That holds true in the business world. Motivated people tend to seek out other hungry individuals. Whether engaging in a formal mentoring program or simply approaching a peer for advice, it’s important to get out of your comfort zone. Don’t get complacent or you’ll likely end up stuck at some points. Growth comes from encountering new ideas and ways of doing things.
7) They Embrace Technology.
Technology has infiltrated nearly every industry. Even veteran advisors with decades of experience under their belts know they have to adopt innovations to stay relevant. The best solutions enhance a practice’s operations, improve efficiency, and elevate client service. Advancements in the form of digital tools for portfolio management, client communication, and data analysis can help advisors provide a multidimensional client experience.
With that in mind, technology can be a powerful asset for financial professionals, offering tools and efficiencies that weren’t even possible a decade ago. To truly elevate your practice, you need the right tech to back you up. Check out PreciseFP to see how our software can support your firm’s growth and help you achieve your long-term goals.
Also, it’s beneficial to see what others are doing. Reading testimonials on G2 or joining our Skool community for best practices and practice management discussions can keep you connected and inspired. By adopting these habits and engaging with the community, you’ll advance your career and set a high standard for those entering the industry.
Vice President of Enterprise Solutions, Docupace
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